◆ Morning Briefing · Sep 28
Bonjour. Welcome to Wall Street High Wealth Invest Channel.
Good morning.
【Key Takeaway】
The S&P 500 and Nasdaq in the prior session posted slight gains, while the VIX fell to 14.9—more like a Consolation that’s firming rather than the starting point of a new rally. Our stance today is to maintain positions and avoid chasing higher prices.
【Overnight Markets】
In the prior session (2026-09-25), the S&P 500 closed at 7,743.4, up 0.51%, with nearly one week at +1.21%; the Nasdaq closed at 27,068.7, up 0.48%, with nearly one week at +2.06% and nearly one month at +3.59%. The VIX closed at 14.9, down 5.11% on the day. The 10-Year Treasury Yield rose to 5.184%, up 2.2 bps versus the previous day. This morning in Asia is relatively weak: the SSE Composite is down 0.26% at the open, the Shenzhen Component is down 0.38%, and the ChiNext (创业板指) is down 0.65%—not in sync with the U.S. market’s rebound from the prior session.
【Today’s Headlines】
Two pieces of information are worth looking at together. First, China’s coal import tariffs from the U.S. were brought into a “300B versus 300B” reciprocal tariff-reduction framework: both sides agreed to lower tariffs on roughly $30 billion worth of products through reciprocal measures. Second, with the 10-Year Treasury Yield standing above 5.184%, the Iranian parliamentary speaker publicly mocked this level. The reciprocal tariff cut may slightly suppress commodity-side inflation expectations, but long-end interest rates above 5% indicate the market is not pricing in a Fed pivot—and that matches our view. The Fed remains Hawkish and accountable for inflation; this is the most reliable anchor in current valuations. Any upside built on Rate Cut expectations ultimately needs to be given back.
【Smart Money Moves】
· Berkshire Hathaway: Bought 1.68 million shares of LEN from 09-23 to 09-25 at 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 in ARKK by 468 shares (-42%), about $45.4M (09-25 holdings)
· ARK (Cathie Wood): Reduced GOLDMAN FS TRSY OBLIG INST in ARKG by 468 shares (-77%), about $6.4M (09-25 holdings)
Our interpretation: Berkshire added 1.68 million shares of LEN from 09-23 to 09-25 at an average price of $81.19, lifting its position to 25.38 million shares. This is contrarian allocation while pressures build on rates and the real-estate cycle—not chasing momentum. Meanwhile, ARK reduced ARKK and ARKG positions in money-market-type instruments by about $45.4M and $6.4M, respectively; it looks more like setting aside cash for subscriptions/redemptions and rebalancing, not a directional bearish signal. Please note: Form 4 is filed within two business days, while 13F is quarterly disclosure—both are lagging information, for reference only, and not a copy-trade signal.
【Portfolio Report】
Of the seven positions previously made public, we touched one:
· NVDA at 225.087 triggered a Short (a trap laid 3 days ago). Currently up 0.07%; at 20x, estimated PnL +1%
None of the other positions have been triggered yet; we keep the original plan.
【Impact on Crypto】
BTC is trading at $84,006, down 0.55% over the past 24 hours—roughly flat. The 10-Year Treasury Yield rose to 5.184% (+2.2 bps vs. the prior day), and the carrying cost of non-yielding assets remains elevated; this is the main variable suppressing BTC valuation right now, not short-term fluctuations in risk appetite. We remain cautious with leveraged positions: until the long-end rates are clearly topped, you shouldn’t use Leverage to bet on direction.
【Our Stance Today】
Risk appetite today is slightly neutral: U.S. stocks were relatively strong in the prior session; Asia’s open is weak. The DXY is down to 101.0 but still +1.83% over the past month. The relative winners are assets with stable cash flows and less sensitivity to long-end yields—not high-Leverage growth and commodity speculation. Keep positioning neutral, don’t add Leverage, and wait for this week’s NFP and PCE to provide direction.
$BTC $XAU $XAG #BTC #Macro
Your private advisor on Wall Street.
Bonne journée.
Bonjour. Welcome to Wall Street High Wealth Invest Channel.
Good morning.
【Key Takeaway】
The S&P 500 and Nasdaq in the prior session posted slight gains, while the VIX fell to 14.9—more like a Consolation that’s firming rather than the starting point of a new rally. Our stance today is to maintain positions and avoid chasing higher prices.
【Overnight Markets】
In the prior session (2026-09-25), the S&P 500 closed at 7,743.4, up 0.51%, with nearly one week at +1.21%; the Nasdaq closed at 27,068.7, up 0.48%, with nearly one week at +2.06% and nearly one month at +3.59%. The VIX closed at 14.9, down 5.11% on the day. The 10-Year Treasury Yield rose to 5.184%, up 2.2 bps versus the previous day. This morning in Asia is relatively weak: the SSE Composite is down 0.26% at the open, the Shenzhen Component is down 0.38%, and the ChiNext (创业板指) is down 0.65%—not in sync with the U.S. market’s rebound from the prior session.
【Today’s Headlines】
Two pieces of information are worth looking at together. First, China’s coal import tariffs from the U.S. were brought into a “300B versus 300B” reciprocal tariff-reduction framework: both sides agreed to lower tariffs on roughly $30 billion worth of products through reciprocal measures. Second, with the 10-Year Treasury Yield standing above 5.184%, the Iranian parliamentary speaker publicly mocked this level. The reciprocal tariff cut may slightly suppress commodity-side inflation expectations, but long-end interest rates above 5% indicate the market is not pricing in a Fed pivot—and that matches our view. The Fed remains Hawkish and accountable for inflation; this is the most reliable anchor in current valuations. Any upside built on Rate Cut expectations ultimately needs to be given back.
【Smart Money Moves】
· Berkshire Hathaway: Bought 1.68 million shares of LEN from 09-23 to 09-25 at 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 in ARKK by 468 shares (-42%), about $45.4M (09-25 holdings)
· ARK (Cathie Wood): Reduced GOLDMAN FS TRSY OBLIG INST in ARKG by 468 shares (-77%), about $6.4M (09-25 holdings)
Our interpretation: Berkshire added 1.68 million shares of LEN from 09-23 to 09-25 at an average price of $81.19, lifting its position to 25.38 million shares. This is contrarian allocation while pressures build on rates and the real-estate cycle—not chasing momentum. Meanwhile, ARK reduced ARKK and ARKG positions in money-market-type instruments by about $45.4M and $6.4M, respectively; it looks more like setting aside cash for subscriptions/redemptions and rebalancing, not a directional bearish signal. Please note: Form 4 is filed within two business days, while 13F is quarterly disclosure—both are lagging information, for reference only, and not a copy-trade signal.
【Portfolio Report】
Of the seven positions previously made public, we touched one:
· NVDA at 225.087 triggered a Short (a trap laid 3 days ago). Currently up 0.07%; at 20x, estimated PnL +1%
None of the other positions have been triggered yet; we keep the original plan.
【Impact on Crypto】
BTC is trading at $84,006, down 0.55% over the past 24 hours—roughly flat. The 10-Year Treasury Yield rose to 5.184% (+2.2 bps vs. the prior day), and the carrying cost of non-yielding assets remains elevated; this is the main variable suppressing BTC valuation right now, not short-term fluctuations in risk appetite. We remain cautious with leveraged positions: until the long-end rates are clearly topped, you shouldn’t use Leverage to bet on direction.
【Our Stance Today】
Risk appetite today is slightly neutral: U.S. stocks were relatively strong in the prior session; Asia’s open is weak. The DXY is down to 101.0 but still +1.83% over the past month. The relative winners are assets with stable cash flows and less sensitivity to long-end yields—not high-Leverage growth and commodity speculation. Keep positioning neutral, don’t add Leverage, and wait for this week’s NFP and PCE to provide direction.
$BTC $XAU $XAG #BTC #Macro
Your private advisor on Wall Street.
Bonne journée.
