Charter House Rules - Ep 3 | High Yields Are a Tax, Not a Verdict

Charter House Rules is the weekly podcast from Emit Capital Asset Management. This week the S&P 500 and Nasdaq hit record highs with the US 10-year still above 5.25% and Brent near US$100. Matt Dever (Founder & CIO) and Craig Jackett (Head of Investor Relations) cover rotation versus rally, the pressure on the long end, oil, gas and European power, and why AI is becoming an electricity story. This week's rule: high yields are a tax, not a verdict. Chapters 0:00 Intro 0:18 Welcome, the Red Sox and Canadian Dave's Winnipeg Jets 2:41 This week's agenda 2:50 Macro: record highs with yields above 5.25% 4:18 Broad rally or rotation? 4:59 Weak payrolls and the long end 6:21 Headwind or wrecking ball? 7:26 The macro conclusion 7:46 Energy: Brent, WTI, gas and German power 8:38 Are inventory releases enough? 9:38 What it means for energy transition portfolios 10:40 AI is becoming an electricity story 11:52 The Google–Constellation nuclear deal 13:03 FERC, PJM and who pays for the grid 14:12 Bloom Energy and Vertiv 15:20 Nvidia chip pricing: slowdown or generation shift? 16:41 Our portfolio response 17:33 Framing the energy transition portfolio 18:29 What would make us cut exposure 19:11 The investment committee verdict 19:55 This week's Charter House Rule 🎧 Listen on Spotify: https://open.spotify.com/show/2W0PhFa... 📺 Subscribe:    / @emitcapitalassetmanagement   🌐 Emit Capital Asset Management: https://emitcapitalam.com Emit Capital portfolios may hold positions in companies mentioned. General advice warning: This content is general information only and does not take into account your objectives, financial situation or needs. It is not a recommendation to buy or sell any security. Consider whether it is appropriate for you and seek professional advice before acting. Past performance is not a reliable indicator of future performance. Views are those of the speakers at the time of recording and may change without notice. Emit Capital Asset Management Pty Ltd | ABN 57 652 326 237 | AFSL 551084 #CharterHouseRules #Markets #Investing