JR Chantengco

Capital Advisor & Financier | RE, VC & Alt-Investments | Sustainability

[JR Chantengco @JRChantengco]

https://t.co/kSj0ZUH9OC

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Call option volume in the S&P 500 spiked to a record 4.0 million contracts on Tuesday.

This figure has more than doubled over the last several weeks.

By comparison, daily call option volume never exceeded 2 million contracts until Q4 2023.

Furthermore, call option volume averaged ~700,000 contracts a day in 2020-2021.

Meanwhile, the S&P 500 put/call skew, measuring the relative demand for downside protection versus upside exposure, posted its largest two-day decline since 2017.

Risk appetite is absolutely exploding.

[The Kobeissi Letter @KobeissiLetter]

The bond market is out of control.

The US 30Y Note Yield is now up to 5.27%, its highest level since June 2007.

This officially marks a +450 basis point rally since the low seen in 2020.

At the current pace, we are on track to see US 30Y mortgage rates exceed 7.50% by year-end.

And to top it all off, Fed Chair Warsh is now adamant that the market should operate independently, without Fed guidance.

Even without rate hikes or Fed guidance, the market is sending rates higher; operating exactly how Fed Chair Warsh wants it to operate.

The bond market will soon be the most talked about component of global capital markets.

This simply is not sustainable.

[Massimo @Rainmaker1973]

It's amazing this happens while you sleep

[📹 connorpatonphotos]

[Golf Performances @GLFPerformances]

Tiger Woods and Torrey Pines were always built for moments like this.

Every eagle. Every roar. Pure dominance.

[KnicksMuse @KnicksMuse]

It’s still pretty incredible that Tyler Kolek and Jordan Clarkson let us to an NBA Cup Championship.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: More than 1.2 million leveraged retail trading accounts in South Korea triggered margin calls as ​of July 13th, with an estimated 320,000–360,000 accounts fully liquidated, per Goldman Sachs.

This means around 3.4% of the adult ⁠population in South Korea has received margin calls.

The KOSPI is currently down another ~18% since July 13th.

We believe that the total number of fully liquidated accounts is now above 500,000.

[Adam Schefter @AdamSchefter]

This year’s major winners:

⛳️The Masters: Rory McIlroy
⛳️PGA Championship: Aaron Rai
⛳️U.S. Open: Wyndham Clark
⛳️The Open: Ryan Fox

[The Open @TheOpen]

Ryan Fox. Nerves of steel.

That is how you win The 154th Open.

[The Open @TheOpen]

Magical bunker play from Jon Rahm to save par on 18.

He's at -4 heading into the final round.

[60 Minutes @60Minutes]

“I don't want to be Messi … I want to follow my own path,” said Spanish soccer sensation Lamine Yamal. https://t.co/s0jd17j6m8

[The Kobeissi Letter @KobeissiLetter]

Never before have so many Americans been outside the labor force:

The number of Americans who are not in the labor force rose by +832,000 in June, to 105.8 million, an all-time high.

These are people who are neither employed nor actively looking for work.

This is now 2.2 million above the 2020 pandemic peak, when the global economy was shut down.

So far in 2026, 2.5 million Americans have exited the labor force.

By comparison, 68.7 million Americans were not in the labor force at the beginning of this century.

As a % of the population aged 16+, this figure is up to 38.5%, the highest since the 1970s, excluding the pandemic period.

The US job market is weak under the surface.

[WWE @WWE]

Narrated by @EliManning, welcome to the newest King of New York...

Jalen Brunson.

[Face The Nation @FaceTheNation]

Bank of America CEO Brian Moynihan said the bank estimates the FIFA World Cup has generated about $20 billion in economic activity in the U.S. Moynihan also said he is “absolutely not” surprised by the turnout or spending despite high ticket prices.

“It's having this on-the-ground economic impact, and that spending is going into…bars and restaurants and things like that, not necessarily only the people in the stadium,” Moynihan said.

[CBS News @CBSNews]

Argentina and Spain fans flooded the streets of New York City on Saturday ahead of the World Cup final on Sunday at MetLife Stadium.

Argentina fans flooded into Times Square while Spain fans took over the street in front of Madison Square Garden.

[FIFA World Cup Stats @alimo_philip]

🇦🇷 ABSOLUTE MADNESS IN NYC RIGHT NOW!

🗽Times Square is completely overrun by Argentines — they shut down every street around it because the crowd is INSANE!

🔥 What’s going on?! This energy is next level!

[Face The Nation @FaceTheNation]

Chris Krebs, who led CISA during President Trump’s first term, says he has a “hard time believing” Trump was not informed about China’s efforts to influence the 2020 election. Krebs, a CBS News cybersecurity expert and analyst, says there were “countless memos” distributed to senior officials about the intent of foreign adversaries in the lead up to the 2020 election.

[The Kobeissi Letter @KobeissiLetter]

Competition between US and Chinese AI models is heating up:

The proportion of tokens used by US firms that run through Chinese AI models on OpenRouter is up to a record ~58%.

OpenRouter is a platform that allows developers and companies to access and compare AI models from multiple providers, making it a useful gauge of real-world AI model adoption.

This percentage has TRIPLED since mid-January, overtaking American peers on the platform for the first time in March.

The token share of Chinese models briefly rose as high as 63% in the first week of July.

By comparison, Chinese models accounted for less than 10% of usage at the start of 2025, while US models accounted for ~80%.

DeepSeek has emerged as the most popular choice among American firms in recent months.

Chinese AI models are rapidly gaining market share.

[Dudes Posting Their W’s @DudespostingWs]

I don’t think people realize how absurd this is. Scottish runner Josh Kerr just broke the mile world record in 3:42.66, an average speed of 16.2 mph. Most people couldn’t even briefly reach that speed, let alone sustain it for an entire mile.

[Travis Miller @travismillerx13]

🇬🇧Josh Kerr’s 3:42.66 mile 🔥

🌎Breaking a world record that had stood for 27 years

[Yakub @Yakkubkk]

Clear angle of Messi assist

Wow, this assist deserves to be in a museum