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I’ve been seriously AFK these past few weeks, passing up on hundreds of thousands, maybe even millions, and it feels incredible. I’ve been a slave to my screen and winning for a long time, so taking a break was well overdue. But I’m recharged and ready to get back in the mix.

Economist Nouriel Roubini told CNBC that he expects core inflation in the United States to climb to 3.5% by the end of 2025. He said the second half of the year will bring weaker growth and possibly even a recession, while interest rate cuts from the Federal Reserve won’t happen before December. Roubini said the economic slowdown will look like a “mini stagflationary shock” and warned that inflation is still running too hot for the Fed to pivot. The Fed’s preferred inflation measure, the core personal consumption expenditures index, remains stubborn. Roubini believes it will stay well above target, which keeps the Fed stuck. Growth slowing while inflation remains high is a setup he’s seen before. The economist also said he expects global trade talks to cool off, but not in a way that avoids economic damage. He predicted a “mild” outcome where many countries end up slapped with 15% tariffs. When asked about possible market fallout, Roubini said he doesn’t think the US is headed for another April 2 moment . That date, in 2025, saw President Donald Trump announce aggressive tariffs that triggered a 20% market drop. Roubini said, “I’m not expecting, certainly, anything close to April 2.” But the warning still stands. He made it clear the economic path is narrowing, and the Fed has limited room to act. Roubini earned his nickname “Dr. Doom” for predicting the 2008 crash and the 2020 virus-induced recession early. While his accuracy isn’t flawless, his timing on those calls made him hard to ignore. He’s spent years in academia, government, and private investing, and he’s currently a portfolio manager at the Atlas America Fund (USAF), an ETF launched late last year. That fund was built to shield investors from threats like inflation, economic shocks, and climate instability. Despite being small, just $17 million in assets as of now, the fund has held up under pressure. Since launching in November, USAF has gained more than 5%, even though that trails the S&P 500. When the stock market fell apart after April’s tariff news, USAF only dropped under 3%, showing some defense against broader turmoil. Roubini said the goal of the fund isn’t to chase big wins. “It’s not a portfolio for doomsday,” he explained. The fund is built for people who expect slow-moving, long-term instability instead of sudden collapses. It’s trying to stay steady, not spectacular. Puneet Agarwal, another manager at USAF, said their focus is on steady returns. “We don’t particularly want outsized returns in one month. We’d rather have the slow and steady uptick, which is exactly what we’ve been seeing,” he said. The ETF holds a mix of gold, short-term US government debt, and agricultural commodities. That lineup has helped at times, but also slowed performance during calmer months like June. Since launch, the portfolio has shifted. USAF recently added more exposure to cybersecurity and defense technology . They also bought short-term inflation-protected bonds and reduced their stake in real estate. The bet on gold gave the fund an edge earlier this year, but became a drag in recent weeks. Still, it reflects a bigger idea Roubini has been pushing. He believes the global economy is slowly drifting away from the US dollar, and investors are starting to prepare for that. “We’re not expecting things to crash. But the trend is clear and it is going [in] one direction,” he said. That direction, according to Roubini, includes elevated inflation, slower growth, geopolitical uncertainty, and tighter financial conditions worldwide. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

Wall Street is ditching the profitable tech elites for a wild batch of companies with no earnings and no apologies. The so-called Unprofitable 858, those money-losing names inside the Russell 300, have started driving the market’s latest high-stakes rally. The obsession with profits is gone. Investors are now throwing cash at companies with big risk, no earnings, and serious volatility. Since April 8, the day the market bottomed out, 10 of the 14 stocks that tripled on the index haven’t made a single dollar of profit. That stat came straight from Bespoke Investment Group, and it’s changing the entire conversation. Through late June, this same batch of 858 unprofitable companies delivered 36% average gains, beating profitable peers who actually generate income. Avis Budget Group, Carvana, and Aeva Technologies are three of the biggest names riding this wave. Avis has jumped 188% since April. Carvana has climbed 98%, and Aeva, a maker of lidar sensors for self-driving cars, is up 457%. This is the same type of manic rally that powered the meme-stock craze in 2021, back when cheap money and government stimulus pumped the market to extremes. The signs are everywhere. A Goldman Sachs tracker for retail traders’ favorite stocks just hit a fresh high, the first since November 2021. That’s when speculation peaked before rate hikes started wrecking fragile plays. Steve Sosnick, chief strategist at Interactive Brokers, said the movement isn’t rooted in fundamentals anymore. “We’re not yet seeing a full-fledged ‘flight-to-crap,’ but it is clear that the motivation behind many of these stocks’ activity is something other than disciplined considerations of discounted cash flows,” Steve said. Inside Interactive Brokers’ own trading data, the trend gets even more insane. Traders have been pouring into names like Cyngn, a self-driving vehicle firm with barely any revenue and a valuation under $100 million. Despite that, Cyngn’s stock has almost tripled in three months. It’s still down 90% year-to-date, but that hasn’t stopped the trades. These are names investors would’ve dumped a year ago. Now they’re at the top of trading dashboards. The pandemic-era favorites are back too. Avis, once a meme darling during lockdowns, is leading again. Carvana, the used-car dealer that crashed hard during the downturn, has now nearly doubled since April. Aeva’s 400%+ run shows how far this rally is spreading. It’s not just mega caps or AI names moving the indexes. It’s companies with no earnings and little business stability. Kevin Gordon, senior investment strategist at Charles Schwab, said this bounce in unimpressive names could become a real problem. “If you do see that low-quality, speculative part of the market lead for an extended period, it can be concerning,” Kevin warned. Still, he admitted this is what retail investors have been trained to do. “They’ve been conditioned to buy the dip and not look back, and for the most part that’s been a sound strategy for them.” What’s feeding the beast? A mix of optimism around rate cuts, economic resilience, and political easing under President Trump. The belief that the White House will take a softer stance on trade and inflation has helped bring bullish energy back. June’s jobs report was the latest upside surprise. Payroll growth held steady, and unemployment dropped to 4.1% from 4.2%, even though Wall Street Journal economists had expected an increase. Those numbers gave traders more confidence that the second half of 2025 could deliver strong growth without spiking inflation. The S&P 500 and Nasdaq both closed at record highs just before the holiday break. That momentum has killed the fear that dominated just three months ago, when retail sentiment hit its lowest level since 2009. Now, traders are only scared of missing the next pop. The “YOLO trade” is alive and foaming at the mouth. Art Hogan, chief market strategist at B. Riley Wealth Management, said the second-quarter attitude shift was loud. “When the attitude shifted to risk-on in the second quarter, it seems like the traditional players moved back into the Apples and Amazons and Microsofts of the world,” Art said. “And now you’ve got the cohort of the ultra-risky, ‘you only live once’ gang rushing back into their selection of equities.” That risk-heavy crowd is also fueling leveraged ETFs. Invesco’s ProShares UltraPro QQQ, which tries to triple the daily return of the Nasdaq-100, saw record inflows in early April. It’s now up more than 100% since April 8. That kind of result is only possible when retail traders ignore warnings and throw size at momentum. Still, the risk of collapse is real. Josh Jamner, senior analyst at ClearBridge Investments, said the long-term reality hasn’t changed. “While some of this speculative stuff can go on huge runs, in the long run, the vast majority of stock returns come back to earnings,” Josh said. “Investors need to keep that in mind.” KEY Difference Wire helps crypto brands break through and dominate headlines fast

In October 2024, Russia put an idea on the table, a BRICS Precious Metals Exchange. The goal? To create a platform where member countries could trade metals like gold, silver, nickel, platinum, and palladium without having to go through Western-run markets . Instead of following the pricing and standards set by institutions like the London Metal Exchange or COMEX, BRICS aims to establish its own benchmarks, along with a clearing and auditing system that puts more control in their own hands. We might soon see this idea come to life. Here’s Why. Brazil assumed the BRICS presidency on January 1, and is going to host the 17th BRICS Summit on July 6–7 in Rio de Janeiro. This summit is going to get a lot of attention because the formal announcement, or even the soft launch, of the metals exchange is expected. The BRICS bloc was founded in 2009, and it has grown. It began with five countries: Brazil, Russia, India, China, and South Africa. Now, it has expanded to include Indonesia, Iran, Egypt, Ethiopia, Saudi Arabia, and the United Arab Emirates. According to a report from CNF, this expanded group now controls a huge share of the world’s gold, platinum group metals, and rare earth reserves. This push isn’t happening in a vacuum. It’s part of a larger effort to move away from the U.S. dollar in global trade. Russia’s Finance Minister, Anton Siluanov, recently doubled down on that vision. Despite ongoing sanctions and isolation after the Ukraine war began in 2022, he said Russia is determined to build a more self-sufficient economy that doesn’t bow to Western pressure. The metals exchange fits neatly into this plan. It’s about resilience. If successful, it could allow BRICS countries to price and trade metals on their own terms, reducing their exposure to U.S. financial systems and sanctions. And it’s not the only step in that direction. BRICS is also developing BRICS Pay , a cross-border payment system using local currencies. There’s even talk of a gold-backed regional currency, pegged roughly 40% to gold and 60% to a mix of member currencies. That kind of financial ecosystem would fundamentally change how these nations interact with global markets. That shift could drive increased physical demand for gold and other metals, especially as more trade is settled in real assets rather than in abstract futures or dollar-based contracts. Of course, launching a new metals exchange is one thing. Getting it to work at scale is another. For starters, the system would need strict accreditation, transparent auditing, and reliable clearing mechanisms, all while coordinating across countries with very different systems and priorities. That kind of multilateral trust isn’t easy to build. There’s also the challenge of infrastructure and liquidity. Traders won’t move to a new platform unless it’s just as fast, reliable, and secure as what they already use. And if the exchange starts gaining traction, Western governments could push back with sanctions or trade barriers to slow things down.

🚨 AIRBNB for YAPPING just launched by @Vader_AI_ Here’s the breakdown👇 - Every Thursday, Vader Yappers (2k+ creators) will ONLY post about one project - Projects bid their tokens to win that 24h exclusive spotlight - Top bidder wins, others get their tokens burned 🔥 - 80% of winning tokens → airdropped to $VADER stakers - 20% → airdropped to Thursday yappers - Leaderboard visible via DeBank - Bidding resets every Thursday 00:00 SGT This isn’t just another airdrop. It’s a clever mix of incentive design, social distribution, and token burn mechanics. Turn attention into competition. Turn tokens into talking points. Smart move @VaderResearch