Real Vision: Finance & Investing

With the U.S. midterm elections just one day away, Andreas Steno and Mikkel Rosenvold are back to break down the forces shaping markets as November gets underway. They examine the battle for control of Congress and what the outcome could mean for markets, the disconnect between surging AI investment and selling pressure across technology stocks, and why liquidity could become the next major market catalyst.

🏆 The Real Vision Trading is now open! The best trade ideas on the platform compete for $80,000 in cash.

📈 Trading League: https://realvision.com/your-future

Timestamps:
00:00 - Welcome to Macro Monday's
01:25 - Three News Items: Anthropic Q3, ISM & Iran Oil Drop
02:26 - Iran Peace Deal: Trump’s Way Out
03:30 - Real Vision Trading League Launch
04:31 - October Market Panic: Liquidity & Hedge Fund Deleveraging
06:31 - Extreme Positioning & October PPI Turning Point
08:36 - Peace Deal Could Spark Rally Like April
09:12 - US Midterms: Michigan, Texas & Democratic Sweep
13:29 - Lame Duck Period: Appropriations & Debt Ceiling
15:19 - Anthropic: Fastest $1B to $75B Growth in History
16:42 - “No More AI CapEx” Credit Investor Consensus
18:09 - Tech Sector Priced Below 2022 Bottom
20:02 - Anthropic IPO: Why Steno Prefers OpenAI
21:19 - GPU Spot Prices Soaring Since October
22:06 - LLM Margins & Commoditization Debate
24:01 - This Week on Real Vision: Drill & Drinks with Raoul
26:10 - Positioning: Semiconductors Still Look Great
27:45 - Closing Thoughts
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Nico Brugge and Kris Bullock break down the latest crypto and macro setup as financial conditions begin to loosen after weeks of pressure from higher bond yields, a stronger dollar, and tightening credit spreads. Kris explains why he still believes Bitcoin is in the early stages of a new bull-market regime, where he sees major support around the $76K area, and what needs to happen for BTC to regain momentum above the recent breakout zone. They also dig into the assets showing the strongest relative strength, including Hyperliquid, NEAR, Uniswap, Zcash, PUMP, and privacy coins, while examining why Ethereum continues to struggle against Bitcoin and which crypto narratives still have real fundamental support.

👉 Have a question for Kris? Join the live show every Wednesday at 1pm ET in the RV Discord. Register here: https://discord.gg/FTQsrUhD9Z.

🏆 The Real Vision Trading is now open! The best trade ideas on the platform compete for $80,000 in cash!

📈 It's FREE - Trading League: https://realvision.com/your-future

Timestamps:
00:00 - Crypto Market Outlook: Are Financial Conditions Improving?
03:34 - AI Stocks, Credit Markets & the Return of Risk Appetite
05:48 - Bitcoin Price Analysis: Is the Bull Market Still Intact?
09:05 - Bitcoin Support Levels: Is $76K the Next Buying Opportunity?
11:03 - Bitcoin's Four-Year Cycle: Is the Pattern Breaking?
14:00 - Lighter (LIT) & PUMP: Which Altcoin Looks Stronger?
18:36 - Pump.fun Revenue: Is the Market Missing Something?
22:22 - Ethereum vs. Bitcoin: Why ETH Continues to Struggle
27:38 - Solana & Sui: Are Altcoins Ready for Another Rally?
30:18 - PONZ: Early Signs of a Bullish Reversal?
33:13 - Hyperliquid & Kraken: A Bullish Partnership for HYPE?
35:36 - NEAR Protocol: AI, Privacy & Token Valuation
39:15 - Uniswap (UNI): Can DeFi Momentum Continue?
41:03 - Circle, USDC & Galaxy Digital: Crypto Stocks to Watch
45:16 - Zcash vs. Monero: Why Privacy Coins Are Outperforming
51:11 - Wormhole, Venice AI & BAT: Altcoins Showing Potential
54:09 - Bittensor (TAO): What Will Trigger the Next Breakout?
56:55 - Bitcoin's Key Levels & What to Watch Next

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Andreas Steno and Mikkel Rosenvold are back to challenge one of the biggest narratives in markets: that the AI boom is simply another dot-com bubble waiting to burst. They break down why today's AI investment cycle may be fundamentally different from the late 1990s, and what that means for tech stocks and the broader market outlook.

They also unpack the latest political surprise involving Brazil's Lula and the implications for emerging markets, before turning to renewed EU–China trade tensions and what another escalation could mean for global trade, European industry, and investors.

🏆 The Real Vision Trading is now open! The best trade ideas on the platform compete for $80,000 in cash.

📈 Trading League: https://realvision.com/your-future?utm_medium=social&utm_source=youtube&utm_campaign=2026_uyf&utm_content=macro-mondays

Timestamps:
00:00 - Anthropic IPO Filing: What It Reveals About the AI Buildout
02:41 - AI vs Dot-Com: Why the Comparison Still Doesn’t Hold
05:54 - Why Higher Rates Are Forcing AI to Prove ROI Now
08:15 - Big Tech Earnings: Can Alphabet, Amazon, and Microsoft Calm Credit Markets?
09:32 - GPU Rental Prices Are Rising — and That Changes the AI Bear Case
12:33 - Is Anthropic Running Out of Compute?
15:22 - Anthropic IPO: Could It Pull Capital Away From the Mag 7?
16:42 - Where to Position If the Fed Finally Acknowledges Tight Financial Conditions
18:33 - Has the Market Already Priced in the End of the AI Boom?
19:19 - Brazil Election Shock: Lula Wins and Markets Get Hit
22:08 - Israel Election: Why Policy Toward Iran May Not Change Much
23:50 - EU vs China: Europe Escalates the Trade War

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Ash Bennington sits down with Jonathan Gould, U.S. Comptroller of the Currency, to break down the OCC’s final rule implementing its portion of the GENIUS Act. Gould explains how the new federal framework will regulate payment stablecoin issuers, including reserve requirements, redemption liquidity, supervision, and the application process beginning January 18. They also discuss stablecoin rewards and yield, cross-border payments, U.S. dollar dominance, and why the administration sees digital assets as an opportunity to modernize the American financial system.

🏆 The Real Vision Trading is now open! The best trade ideas on the platform compete for $80,000 in cash.

📈 Trading League: https://realvision.com/your-future

Timestamps:
00:00 - The GENIUS Act Final Rule
01:09 - Stablecoin Applications Begin January 18
02:20 - How the New Framework Will Work
04:01 - Stablecoins and U.S. Competitiveness
05:32 - Reserve Requirements Explained
06:56 - Why Liquidity Matters
09:10 - Balancing Innovation and Regulation
10:41 - How Stablecoin Supervision Will Work
12:18 - Reporting and Oversight
14:37 - Yield vs. Rewards
17:56 - U.S. vs. Foreign Stablecoin Issuers
19:07 - Stablecoins and Dollar Dominance
20:49 - Why Washington Sees Crypto Differently
21:42 - What Comes Next
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Andreas Steno of Steno Research is flying solo on this week's Macro Mondays, breaking down the latest inflation signals and what they mean for the market outlook. With energy prices and input costs rising, is another inflation shock on the horizon — and could Kevin Warsh be focusing on the wrong inflation measure? Andreas also examines the latest business cycle data, why he's not ready to turn bearish on equities just yet, and what renewed pressure in France's bond market could mean for European investors.

🏆 The Real Vision Trading is now open! The best trade ideas on the platform compete for $80,000 in cash.

📈 Trading League: https://realvision.com/your-future

Timestamps:
00:00 - France Is Burning — But Is the Market Panic Overdone?
02:30 - French Bond Stress: Why Credit Markets Are Turning on France
04:23 - AI Credit Stress: Is the Data Center Buildout Finally Breaking?
05:14 - Extreme Fear, Record Hedging, and the Midterm Setup
07:30 - Why This AI Selloff Is More Fundamental Than the Last Ones
08:26 - Hot CPI and PPI — So Why Did Bond Yields Fall?
09:38 - Positioning Is Crowded: Bonds, Energy, Dollar, and AI
11:30 - Inflation Peak Ahead? Why October Could Be the Turning Point
14:35 - Are the Mag 7 Really About to Cut AI CapEx?
15:41 - Compute Prices Are Rising — and That Changes the AI Bear Case
18:04 - DeepSeek Banned From US Government Systems: A New AI Trade War?
20:12 - Hiking Cycles, Credit Stress, and the Timing of the Next Trade
21:05 - Why Inflation and the Midterms Could Set Up a Q4 Rebound
#macromondays #macro #mikkelrosenvold #andreassteno #stenoresearch #realvision
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