Today's Post - https://bahnsen.co/4yUosr7

David Bahnsen reviews a “bizarre” July in which long-term yields rose, the Iran ceasefire/MOU collapsed, semiconductors fell sharply, and the yen hit multi-decade lows—yet the S&P 500 finished flat with improved breadth—and notes a strong early-August rally led by mega-cap tech while oil fell and energy dipped. He highlights massive hyperscaler capital expenditures and the key market questions around ROI, timing, financing, and systemic exposure. Bahnsen discusses shifting Iran headlines, policy items including the Todd Blanche AG nomination, the low odds of the Save Act and another reconciliation bill, Michigan’s Senate primary dynamics, and a multi-state lawsuit over Section 301 tariff rationale. He covers Q2 real GDP at 1.5%, stronger July ISM manufacturing, elevated mortgage rates, Fed chair Warsh and balance-sheet effects, Treasury’s reported yen buying, and midstream/MLP performance.

00:00 Welcome and Setup

00:23 July Market Recap

02:22 Monday Rally Snapshot

03:04 Big Tech Capex Questions

05:03 Iran Headlines and Oil

05:39 Washington Policy Update

07:50 GDP and ISM Readouts

09:01 Rates and Housing Impact

09:49 Fed Chair and Yen Move

12:45 Energy and Midstream Returns

13:10 Wrap Up and Next Episode

13:39 Disclosures and Disclaimers

Links mentioned in this episode: DividendCafe.com

TheBahnsenGroup.com