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Strategy's Fixed-Cost Trap: A Forced BTC Redemption Stress Test
When a $1.76 billion dividend load meets a shrinking coin, the math runs in only one direction.
22 hrs ago
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Mike Agne
1
June NFP Miss Unmasks the Participation Rate Trap -Warsh, BOJ, and the Fiscal Dominance Test
507,000 Workers Left the Workforce in June as the BLS Headlined a Drop in Unemployment.
Jul 6
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Mike Agne
2
June 2026
Why We Think the Fed Ends Up Cutting, Not Hiking, Inside Six Months
Strategy Inc is running out of room to wait and see who is right.
Jun 28
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Mike Agne
9
1
The Negative Convexity We Flagged Is Now a Cash Flow Problem
We walk through the mechanism we flagged months ago, now showing up in the filings.
Jun 25
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Mike Agne
5
1
1
Export Controls Just Created Their Own Workaround
Sakana AI's new Fugu model openly targets the gap left by Anthropic's Mythos export control suspension. We connect that story to BofA's hawkish rate…
Jun 23
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Mike Agne
2
Fiscal Dominance and the Inversion of Monetary Transmission
Why High Interest Rates May Be Inflationary Under Debt Saturation, and What the Federal Reserve Is Getting Wrong
Jun 16
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Mike Agne
5
1
King Elon, a $2 Trillion Crown, and a Dollar Nobody Wants to Talk About
SpaceX goes public. Markets chase the headline. The real story is what it costs in a currency the Fed is printing at $6 billion a week.
Jun 14
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Mike Agne
4
1
Bonds Rally, Tech Slips, Gold Breaks
The curve bull-flattened into CPI, the Nasdaq short delivered, and gold cracked through 4,475.
Jun 10
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Mike Agne
1
The Zero Sum Game
What the non-farm payrolls print did not cause, and what the SpaceX IPO is doing to the tape.
Jun 8
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Mike Agne
5
The Skew Already Told You
How 25 years in fixed income derivatives positioned Magnelibra to read Broadcom's options market before the print — and what Bitcoin's balance sheet is…
Jun 5
•
Mike Agne
6
1
Broadcom Earnings: Reading the Skew
Broadcom reports after the close Wednesday, a look at what the options markets think and Bitcoin tanking
Jun 3
•
Mike Agne
3
1
The SpaceX Swap: Why NVIDIA Gets Sold First
Money does what it always does — it finds leverage and goes to work.
Jun 1
•
Mike Agne
2
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