Forward Guidance

Can anything stop oil's run when the SPR is already drained?

This week, we dig into why the oil squeeze is becoming structural, not just a Strait of Hormuz story.

We explore the oil curve trade, the Brent–WTI gap, tightening financial conditions, and crypto's slow bottoming process. Enjoy!

TIMESTAMPS:

00:00 Markets In Turmoil, Round Two

01:25 Bonds Rip As The Nasdaq Drops 3%

02:29 Oil And Bonds Break Up

05:23 Why Nobody Wants The Oil Bull Case

09:45 Reading The Oil Curve

12:38 Ads (Fidelity, DAS London)

13:50 Brent–WTI Gap Hits Wartime Highs

16:33 Diesel, Cracks & Maxed-Out Refineries

20:30 The Only Way Out Is Through

23:13 AI Capex Doubts Meet Tighter Conditions

29:18 Ads (Fidelity, DAS London)

30:36 Midterms, Iran & No Plan

36:07 No SPR Left To Cap Prices

39:56 Do Shipping Costs Cap Oil?

44:19 Is Crypto Bottoming?

54:06 The Midterms Risk For Crypto

FOLLOW THE SHOW

› Forward Guidance – https://x.com/ForwardGuidance

› Felix – https://x.com/fejau_inc

› Quinn – https://x.com/qthomp

› Telegram – https://t.me/+CAoZQpC-i6BjYTEx

› Blockworks – https://x.com/Blockworks

SPONSORS

› Fidelity Crypto was built in-house with over a dozen years of crypto experience. So you can trade crypto and stocks in one place at Fidelity, backed by industry-leading security. Fidelity Crypto. We're here to help you feel good about investing in crypto. Crypto is offered by Fidelity Digital Assets, NA, is not insured by FDIC or SIPC and includes risk of significant loss. Securities offered by Fidelity Brokerage Services,LLC. Member NYSE, SIPC.

http://fidelity.com/crypto

RESOURCES

› Weekly Roundup Charts – https://drive.google.com/file/d/1Tnu1D0x02EGLR6qtWjttOj6iDTp-jOLw/view?usp=sharing

› Learn more about Blockworks Agentic Detection:

https://blockworks.com/insights/introducing-agentic-detection-asset-monitoring-built-for-the-ai-era

› Start building with the Blockworks Unified API

https://blockworks.com/insights/introducing-the-blockworks-unified-api

EVENTS

› Join us at Digital Asset Summit London Nov 10-11

https://blockworks.com/events

DISCLAIMER

Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

Is crypto finally rewarding the investors who do the work?

This week, we sit down with three top allocators at DAS Singapore to unpack where the real alpha lives in an early, uneven bull market.

We explore where crypto x AI actually works, building size in illiquid tokens, if $HYPE stays the consensus winner, and seed vs. growth for the next cycle. Enjoy!

TIMESTAMPS:

00:00 Intro

01:21 Where Is Crypto AI’s Edge?

07:10 Ads (Fidelity Crypto)

07:43 Do AI Agents Need Blockchains?

10:16 How Crypto Funds Allocate Capital

16:33 Ads (Fidelity Crypto)

17:13 Finding Alpha In A Crowded Market

23:37 Longs, Shorts, And Beating Bitcoin

26:34 Seed Or Growth: Where’s The Opportunity?

FOLLOW GUESTS

› Arthur Cheong – https://x.com/arthur0x

› Rajiv Patel-O'Connor – https://x.com/rajivpoc

› Smac – https://x.com/0xsmac

FOLLOW THE SHOW

› Forward Guidance – https://x.com/ForwardGuidance

› Felix – https://x.com/fejau_inc

› Telegram – https://t.me/+CAoZQpC-i6BjYTEx

› Blockworks – https://x.com/Blockworks

SPONSORS

› Fidelity Crypto was built in-house with over a dozen years of crypto experience. So you can trade crypto and stocks in one place at Fidelity, backed by industry-leading security. Fidelity Crypto. We're here to help you feel good about investing in crypto. Crypto is offered by Fidelity Digital Assets, NA, is not insured by FDIC or SIPC and includes risk of significant loss. Securities offered by Fidelity Brokerage Services,LLC. Member NYSE, SIPC.

http://fidelity.com/crypto

RESOURCES

› Learn more about Blockworks Agentic Detection:

https://blockworks.com/insights/introducing-agentic-detection-asset-monitoring-built-for-the-ai-era

› Start building with the Blockworks Unified API

https://blockworks.com/insights/introducing-the-blockworks-unified-api

EVENTS

› Join us at Digital Asset Summit London Nov 10-11

https://blockworks.com/events

DISCLAIMER

Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

Is the AI trade now the only thing standing between the economy and a slowdown?

This week, we unpack why bonds are rallying through scalding inflation data and what that says about the current cycle and inflection point in markets.

We explore the collapse in October hike odds, why AI backstops favor debt over equity, the Russell's brutal losing streak, where to hide from a correlation shock, and whether the top is in for yields. Enjoy!

TIMESTAMPS:

00:00 Intro

02:06 Why Are Bonds Ignoring Hot Inflation?

07:53 Has The Fed Ruled Out October?

11:56 Ads (Fidelity Crypto)

12:29 Cracks In The AI Growth Engine

16:59 Is A Growth Slowdown Already Coming?

21:11 The Market’s Warning Shot

26:43 Ads (Fidelity Crypto)

27:42 Who Gets Saved In AI Bailouts?

32:14 Where Can Investors Find Shelter?

40:41 Do Rate Hikes Still Work?

44:43 Can Bonds Really Offer Safety?

49:06 Iran Escalation And The Midterms

FOLLOW THE SHOW

› Forward Guidance – https://x.com/ForwardGuidance

› Felix – https://x.com/fejau_inc

› Quinn – https://x.com/qthomp

› Telegram – https://t.me/+CAoZQpC-i6BjYTEx

› Blockworks – https://x.com/Blockworks

SPONSORS

› Fidelity Crypto was built in-house with over a dozen years of crypto experience. So you can trade crypto and stocks in one place at Fidelity, backed by industry-leading security. Fidelity Crypto. We're here to help you feel good about investing in crypto. Crypto is offered by Fidelity Digital Assets, NA, is not insured by FDIC or SIPC and includes risk of significant loss. Securities offered by Fidelity Brokerage Services,LLC. Member NYSE, SIPC.

http://fidelity.com/crypto

RESOURCES

› Weekly Roundup Charts – https://drive.google.com/file/d/1Jxp-TOVcBtYAs5dzvk8GK4k2pgKJE2vf/view?usp=sharing

› Learn more about Blockworks Agentic Detection:

https://blockworks.com/insights/introducing-agentic-detection-asset-monitoring-built-for-the-ai-era

› Start building with the Blockworks Unified API

https://blockworks.com/insights/introducing-the-blockworks-unified-api

EVENTS

› Join us at Digital Asset Summit London Nov 10-11

https://blockworks.com/events

DISCLAIMER

Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

Are onchain markets about to become the default way the world trades?

This week, Felix sits down live at DAS Singapore with Robinhood's Johann Kerbrat and Lighter's Vlad Novakovski to unpack the convergence of TradFi and crypto.

We explore 24/7 trading, why perps beat CFDs, pre-IPO and commodity perps, the CFTC path for US perps, and Robinhood Chain's first 100 days. Enjoy!

TIMESTAMPS:

00:00 Intro

01:14 Why Finance Is Moving Onchain

04:17 Can 24/7 Markets Stay Liquid?

06:33 Why Perps Are Going Mainstream

09:59 Bringing Real Assets To Perps

13:10 Can The US Get Perps Right?

15:51 Connecting Traditional & Onchain Finance

18:15 What Robinhood Chain Has Learned

FOLLOW GUESTS

› Johann – https://x.com/JohannKerbrat

› Vlad – https://x.com/vnovakovski

FOLLOW THE SHOW

› Forward Guidance – https://x.com/ForwardGuidance

› Felix – https://x.com/fejau_inc

› Telegram – https://t.me/+CAoZQpC-i6BjYTEx

› Blockworks – https://x.com/Blockworks

› DAS – https://x.com/blockworksDAS

RESOURCES

› Learn more about Blockworks Agentic Detection:

https://blockworks.com/insights/introducing-agentic-detection-asset-monitoring-built-for-the-ai-era

› Start building with the Blockworks Unified API

https://blockworks.com/insights/introducing-the-blockworks-unified-api

EVENTS

› Join us at Digital Asset Summit London Nov 10-11

https://blockworks.com/events

DISCLAIMER

Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

Can policymakers keep the AI boom alive without squeezing the rest of the economy?

This week, Aidan Garrib, PGM Global’s head of global macro strategy and research, joins us to explore the widening divide between Wall Street and Main Street.

We discuss what’s driving bond yields, housing’s squeeze, the debasement trade, and Europe’s policy trap. Enjoy!

TIMESTAMPS:

00:00 Intro

02:38 What’s Really Driving Bond Yields?

08:31 AI Booms While Housing Breaks

14:40 Can The Fed Get Yields Down?

19:23 The Fed’s Inflation Balancing Act

22:42 Can Main Street Survive AI’s Boom?

29:04 Why Policymakers Need Stocks Higher

33:04 Do Rate Hikes Actually Stimulate?

38:13 Engineering Buyers For Government Debt

43:00 Europe’s Inflation Or Industry Dilemma

48:23 Why Europe’s Crisis Keeps Getting Worse

FOLLOW THE SHOW

› Forward Guidance – https://x.com/ForwardGuidance

› Felix – https://x.com/fejau_inc

› Quinn – https://x.com/qthomp

› Aidan – https://x.com/AidanGarrib

› Telegram – https://t.me/+CAoZQpC-i6BjYTEx

› Blockworks – https://x.com/Blockworks

RESOURCES

› Learn more about Blockworks Agentic Detection:

https://blockworks.com/insights/introducing-agentic-detection-asset-monitoring-built-for-the-ai-era

› Start building with the Blockworks Unified API

https://blockworks.com/insights/introducing-the-blockworks-unified-api

EVENTS

› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th

https://blockworks.com/events

› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the biggest weeks in crypto.

Get your TOKEN2049 tickets and 10% DISCOUNT here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=fg&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST

DISCLAIMER

Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.