<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0"><channel><title><![CDATA[RSS Feed]]></title><description><![CDATA[RSS Feed]]></description><link>https://ecency.com</link><image><url>https://ecency.com/logo512.png</url><title>RSS Feed</title><link>https://ecency.com</link></image><generator>RSS for Node</generator><lastBuildDate>Fri, 02 Oct 2026 17:56:22 GMT</lastBuildDate><atom:link href="https://ecency.com/@thauerbyi/rss" rel="self" type="application/rss+xml"/><item><title><![CDATA[Crude Is Fixed. Tell That to Your Truck.]]></title><description><![CDATA[Crude Is Fixed. Tell That to Your Truck. Somebody call the oil desks and tell them to stand down, because the Gulf is back. Goldman reckons Gulf crude exports averaged 23.3 million barrels a day over the]]></description><link>https://ecency.com/@thauerbyi/crude-is-fixed-tell-that-to-your-truck</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/crude-is-fixed-tell-that-to-your-truck</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Fri, 02 Oct 2026 03:38:39 GMT</pubDate></item><item><title><![CDATA[The Q3 Call of a Company You Don't Own]]></title><description><![CDATA[A fictional earnings call, Thursday, October 1. Ashgrove Industrial does not exist. The yields, the indexes and the Micron print around it do. Operator: Good morning, and welcome to the Ashgrove Industrial]]></description><link>https://ecency.com/@thauerbyi/the-q3-call-of-a-company-you-dont-own</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/the-q3-call-of-a-company-you-dont-own</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Thu, 01 Oct 2026 05:56:36 GMT</pubDate></item><item><title><![CDATA[Nobody Earns 86% on Memory for Long]]></title><description><![CDATA[Nobody Earns 86% on Memory for Long INTERNAL MEMO, FOR THE COMMITTEE, DRAFTED BEFORE THE BELL Subject: Tonight's Micron print, tomorrow's payrolls, and why the two are the same trade Micron reports after]]></description><link>https://ecency.com/@thauerbyi/nobody-earns-86percent-on-memory-for-long</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/nobody-earns-86percent-on-memory-for-long</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Wed, 30 Sep 2026 05:43:30 GMT</pubDate></item><item><title><![CDATA[Who Is Holding the Pause]]></title><description><![CDATA[Who Is Holding the Pause Sunday night an AI lab told the world it had stopped its most capable models mid-stride, and by Monday morning in Seoul the market had a story, a villain and a price. The story:]]></description><link>https://ecency.com/@thauerbyi/who-is-holding-the-pause</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/who-is-holding-the-pause</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Tue, 29 Sep 2026 03:53:48 GMT</pubDate></item><item><title><![CDATA[Otemachi]]></title><description><![CDATA[07:40, Otemachi The Nikkei is up 0.29% and nobody on this floor cares. Nobody is looking at it. Every screen is showing the same three numbers, and I have been staring at them since before the coffee.]]></description><link>https://ecency.com/@thauerbyi/otemachi</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/otemachi</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Mon, 28 Sep 2026 03:41:45 GMT</pubDate></item><item><title><![CDATA[The Greenland Trade Nobody Can Actually Execute]]></title><description><![CDATA[RISK DESK MEMO — Internal, Do Not Distribute Re: The Greenland Trade Nobody Can Actually Execute To: Desk heads From: Macro/Geopolitical Date: September 27, 2026 Someone needs to explain to me, slowly,]]></description><link>https://ecency.com/@thauerbyi/the-greenland-trade-nobody-can-actually-execute</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/the-greenland-trade-nobody-can-actually-execute</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Sun, 27 Sep 2026 04:03:06 GMT</pubDate></item><item><title><![CDATA[RISK DESK MEMO: The Debasement Trade Has a Liquidity Problem]]></title><description><![CDATA[RISK DESK MEMO: The Debasement Trade Has a Liquidity Problem TO: Portfolio committee RE: Gold's 20% round trip and why nobody on the desk wants to say "sell" out loud STATUS: Circulate, do not]]></description><link>https://ecency.com/@thauerbyi/risk-desk-memo-the-debasement-trade-has-a-liquidity-problem</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/risk-desk-memo-the-debasement-trade-has-a-liquidity-problem</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Sat, 26 Sep 2026 05:43:33 GMT</pubDate></item><item><title><![CDATA[Someone Already Lived Through This Number]]></title><description><![CDATA[Someone Already Lived Through This Number 3:47 AM. Can't sleep. The screen says 5.11% and I keep doing the math in my head like it'll change. Nineteen years. That's the gap. The last time the 10-year Treasury]]></description><link>https://ecency.com/@thauerbyi/someone-already-lived-through-this-number</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/someone-already-lived-through-this-number</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Fri, 25 Sep 2026 04:04:45 GMT</pubDate></item><item><title><![CDATA[The Embargo Reflex]]></title><description><![CDATA[The Embargo Reflex Every energy shock eventually produces a politician who discovers the export button. On Tuesday at the UN General Assembly, it was Donald Trump's turn. He said the US should not "send]]></description><link>https://ecency.com/@thauerbyi/the-embargo-reflex</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/the-embargo-reflex</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Thu, 24 Sep 2026 06:05:54 GMT</pubDate></item><item><title><![CDATA[The Index Is Lying to You Again]]></title><description><![CDATA[MEMO — Internal Distribution Only RE: The Index Is Lying to You Again Somebody on the desk pulled up the Nasdaq 100 chart this morning and called it a V-shaped recovery. It is not a V-shaped recovery.]]></description><link>https://ecency.com/@thauerbyi/the-index-is-lying-to-you-again</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/the-index-is-lying-to-you-again</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Wed, 23 Sep 2026 03:30:33 GMT</pubDate></item><item><title><![CDATA[On the Difference Between a Trade and a Deposit]]></title><description><![CDATA[MEMO: On the Difference Between a Trade and a Deposit TO: Risk desk RE: Critical Metals, Greenland Mines, USA Rare Earth — position sizing ahead of Wednesday STATUS: Read before you chase Monday's tape]]></description><link>https://ecency.com/@thauerbyi/on-the-difference-between-a-trade-and-a-deposit</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/on-the-difference-between-a-trade-and-a-deposit</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Tue, 22 Sep 2026 04:40:00 GMT</pubDate></item><item><title><![CDATA[The Calendar Belongs to Beijing]]></title><description><![CDATA[The Calendar Belongs to Beijing Tomorrow is the forty-first anniversary of the Plaza Accord, and nobody will mention it on Wednesday when a US president reportedly greets a Chinese one on the tarmac at]]></description><link>https://ecency.com/@thauerbyi/the-calendar-belongs-to-beijing</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/the-calendar-belongs-to-beijing</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Mon, 21 Sep 2026 06:04:48 GMT</pubDate></item><item><title><![CDATA[Eulogy for Three Ticker Symbols]]></title><description><![CDATA[Eulogy for Three Ticker Symbols Thank you all for coming. I'll keep this short, because the funeral is scheduled for before the opening bell tomorrow and the deceased are not expected to make a scene.]]></description><link>https://ecency.com/@thauerbyi/eulogy-for-three-ticker-symbols</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/eulogy-for-three-ticker-symbols</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Sun, 20 Sep 2026 06:16:24 GMT</pubDate></item><item><title><![CDATA[A Permission Slip Is Not a Property Right]]></title><description><![CDATA[A Permission Slip Is Not a Property Right Fifty senators voted no on Tuesday. By Thursday morning the crypto industry had most of what it wanted anyway, on paper thinner than a receipt. Hold both facts]]></description><link>https://ecency.com/@thauerbyi/a-permission-slip-is-not-a-property-right</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/a-permission-slip-is-not-a-property-right</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Sat, 19 Sep 2026 05:56:36 GMT</pubDate></item><item><title><![CDATA[The Three-Day Amnesia]]></title><description><![CDATA[The Three-Day Amnesia Sunday, Sam Altman, Elon Musk, and Dario Amodei stood up and said, in essence, slow down, we might be building something we can't control. Monday the market listened. The Philadelphia]]></description><link>https://ecency.com/@thauerbyi/the-three-day-amnesia</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/the-three-day-amnesia</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Fri, 18 Sep 2026 04:17:36 GMT</pubDate></item><item><title><![CDATA[The 1994 Trade]]></title><description><![CDATA[The 1994 Trade I was twenty-six the first time a Fed chairman convinced himself he was ahead of the bond market. Greenspan hiked in February 1994 off a fed funds rate of 3%, and the long bond did something]]></description><link>https://ecency.com/@thauerbyi/the-1994-trade</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/the-1994-trade</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Thu, 17 Sep 2026 06:31:33 GMT</pubDate></item><item><title><![CDATA[Gold Got the Debasement Story. Bitcoin Got Left at the Altar.]]></title><description><![CDATA[Gold Got the Debasement Story. Bitcoin Got Left at the Altar. Gold cleared its inflation-adjusted 1980 high on September 7 — the $850-an-ounce Volcker-era peak that had stood, adjusted for CPI, as the]]></description><link>https://ecency.com/@thauerbyi/gold-got-the-debasement-story-bitcoin-got-left-at-the-altar</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/gold-got-the-debasement-story-bitcoin-got-left-at-the-altar</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Wed, 16 Sep 2026 06:31:27 GMT</pubDate></item><item><title><![CDATA[The Track-Layers and the Line-Operators]]></title><description><![CDATA[The Track-Layers and the Line-Operators Three in the morning and I'm still looking at the sector breakdown from Monday's tape, because something about it won't let me sleep, and I've decided the something]]></description><link>https://ecency.com/@thauerbyi/the-track-layers-and-the-line-operators</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/the-track-layers-and-the-line-operators</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Tue, 15 Sep 2026 03:51:57 GMT</pubDate></item><item><title><![CDATA[Buy The Hike, I Guess]]></title><description><![CDATA[Buy The Hike, I Guess Fine. Sure. Let's do this. The Fed is 85% priced to raise rates into a market sitting near its fourth-highest close of the year, oil just punched through $102 a barrel, the thirty-year]]></description><link>https://ecency.com/@thauerbyi/buy-the-hike-i-guess</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/buy-the-hike-i-guess</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Mon, 14 Sep 2026 04:15:24 GMT</pubDate></item><item><title><![CDATA[Refining Capacity Is the New OPEC]]></title><description><![CDATA[Refining Capacity Is the New OPEC TO: Risk Committee RE: Diesel, and why everyone is still modeling the wrong barrel STATUS: Not for distribution Somebody on the desk keeps pulling up WTI and calling it]]></description><link>https://ecency.com/@thauerbyi/refining-capacity-is-the-new-opec</link><guid isPermaLink="true">https://ecency.com/@thauerbyi/refining-capacity-is-the-new-opec</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Sun, 13 Sep 2026 07:08:12 GMT</pubDate></item></channel></rss>