◆ Morning Briefing · Sep 27
Bonjour. Welcome to Wall Street High Wealth Invest Channel.
Good morning.
【Key Takeaways】
The S&P 500 and Nasdaq both rose slightly on the previous trading day. The VIX fell to 14.9, indicating a mild Risk-on environment under low volatility. Our stance: don’t chase gains; keep positions—let profits run, but don’t add Leverage.
【Overnight Markets】
On the prior trading day (2026-09-25), the S&P 500 closed at 7,743.4, up +0.51%, with +1.21% over the past week. The Nasdaq closed at 27,068.7, up +0.48%, with +2.06% over the past week, +3.59% over the past month—clearly outperforming the S&P 500. The VIX closed at 14.9, down -5.11% for the day and -3.75% over the past month. The Fear & Greed Index is in the Greed range. The DXY fell to 101.0, down -0.32%, but still up +1.82% over the past month. The 10-Year Treasury Yield rose to 5.184%, +2.2 basis points from the previous day. Asian markets are moving in line with U.S. equities, and risk appetite is repairing in sync.
【Today’s Headlines】
The interest-rate market currently prices a 64.2% probability of the Fed hiking rates by 25 bps in October. This aligns with our view: inflation has not yet returned to target, and keeping a Hawkish stance is discipline rather than hostility. With the 10-Year Treasury Yield moving above 5.18%, the market is pricing higher real rates, which continues to put persistent pressure on long-duration growth stocks. We have no expectations of any Rate Cut. Valuations propped up by QE and liquidity ultimately need to be paid back. Ethena’s announcement that it will stop USDe-related token incentives and inflation arrangements by the end of this month is yet another example of deleveraging within crypto; such structural contractions often appear before prices bottom.
【Smart Money Watch】
· Berkshire Hathaway: Bought 1.68 million shares of LEN from 09-23 to 09-25, with an average price of $81.19; shares increased to 25.38 million (Form 4, filed 09-25)
· ARK (Cathie Wood): Reduced GOLDMAN FS TRSY OBLIG INST by 468, down -42%, about $45.4M (09-25 holdings)
· ARK (Cathie Wood): Reduced GOLDMAN FS TRSY OBLIG INST by 468, down -77%, about $6.4M (09-25 holdings)
Our interpretation: Berkshire added to LEN around $81, increasing to 25.38 million shares—an anti-trend allocation under pressure from the rates and real-estate cycles, not chasing momentum. ARK simultaneously trimmed cash-like holdings in ARKK and ARKG; this looks more like portfolio rebalancing than a directional bet. These are lagging public disclosures—Form 4 within two business days, 13F quarterly, and lawmakers’ reports up to 45 days—so they are for reference, not signals to follow.
【Position Update】
Of the seven previously disclosed positions, none have reached the order limit prices. We stick to the original plan and do not chase.
【Impact on Crypto】
BTC is trading at $84,404, -0.03% over the past 24 hours—basically unchanged. With the 10-Year Treasury Yield rising to 5.184%, in an environment of higher real rates, the cost of holding non-yielding assets continues to rise—this is the most direct transmission mechanism right now. Ethena’s reduction of USDe incentives is a continuation of deleveraging within crypto. We remain cautious about leverage exposure and will not add Leverage here.
【Our Stance Today】
Our assessment of risk appetite today is neutral to cautious: the longer indexes consolidate in low volatility, the more fuel there is for an upside breakout. However, Nasdaq is already up +3.59% over the past month, partially discounting expectations; a short-term pullback is normal. The relative advantage lies in assets with stable cash flows that are less sensitive to interest rates. Maintain current positioning, don’t add Leverage, set Stop Loss levels for the long end, and wait for a clearer trend reversal signal.
$BTC $XAU $XAG #BTC #Macro
Your private advisor on Wall Street.
Have a nice day.
Bonjour. Welcome to Wall Street High Wealth Invest Channel.
Good morning.
【Key Takeaways】
The S&P 500 and Nasdaq both rose slightly on the previous trading day. The VIX fell to 14.9, indicating a mild Risk-on environment under low volatility. Our stance: don’t chase gains; keep positions—let profits run, but don’t add Leverage.
【Overnight Markets】
On the prior trading day (2026-09-25), the S&P 500 closed at 7,743.4, up +0.51%, with +1.21% over the past week. The Nasdaq closed at 27,068.7, up +0.48%, with +2.06% over the past week, +3.59% over the past month—clearly outperforming the S&P 500. The VIX closed at 14.9, down -5.11% for the day and -3.75% over the past month. The Fear & Greed Index is in the Greed range. The DXY fell to 101.0, down -0.32%, but still up +1.82% over the past month. The 10-Year Treasury Yield rose to 5.184%, +2.2 basis points from the previous day. Asian markets are moving in line with U.S. equities, and risk appetite is repairing in sync.
【Today’s Headlines】
The interest-rate market currently prices a 64.2% probability of the Fed hiking rates by 25 bps in October. This aligns with our view: inflation has not yet returned to target, and keeping a Hawkish stance is discipline rather than hostility. With the 10-Year Treasury Yield moving above 5.18%, the market is pricing higher real rates, which continues to put persistent pressure on long-duration growth stocks. We have no expectations of any Rate Cut. Valuations propped up by QE and liquidity ultimately need to be paid back. Ethena’s announcement that it will stop USDe-related token incentives and inflation arrangements by the end of this month is yet another example of deleveraging within crypto; such structural contractions often appear before prices bottom.
【Smart Money Watch】
· Berkshire Hathaway: Bought 1.68 million shares of LEN from 09-23 to 09-25, with an average price of $81.19; shares increased to 25.38 million (Form 4, filed 09-25)
· ARK (Cathie Wood): Reduced GOLDMAN FS TRSY OBLIG INST by 468, down -42%, about $45.4M (09-25 holdings)
· ARK (Cathie Wood): Reduced GOLDMAN FS TRSY OBLIG INST by 468, down -77%, about $6.4M (09-25 holdings)
Our interpretation: Berkshire added to LEN around $81, increasing to 25.38 million shares—an anti-trend allocation under pressure from the rates and real-estate cycles, not chasing momentum. ARK simultaneously trimmed cash-like holdings in ARKK and ARKG; this looks more like portfolio rebalancing than a directional bet. These are lagging public disclosures—Form 4 within two business days, 13F quarterly, and lawmakers’ reports up to 45 days—so they are for reference, not signals to follow.
【Position Update】
Of the seven previously disclosed positions, none have reached the order limit prices. We stick to the original plan and do not chase.
【Impact on Crypto】
BTC is trading at $84,404, -0.03% over the past 24 hours—basically unchanged. With the 10-Year Treasury Yield rising to 5.184%, in an environment of higher real rates, the cost of holding non-yielding assets continues to rise—this is the most direct transmission mechanism right now. Ethena’s reduction of USDe incentives is a continuation of deleveraging within crypto. We remain cautious about leverage exposure and will not add Leverage here.
【Our Stance Today】
Our assessment of risk appetite today is neutral to cautious: the longer indexes consolidate in low volatility, the more fuel there is for an upside breakout. However, Nasdaq is already up +3.59% over the past month, partially discounting expectations; a short-term pullback is normal. The relative advantage lies in assets with stable cash flows that are less sensitive to interest rates. Maintain current positioning, don’t add Leverage, set Stop Loss levels for the long end, and wait for a clearer trend reversal signal.
$BTC $XAU $XAG #BTC #Macro
Your private advisor on Wall Street.
Have a nice day.
