Open Interest 7/2/2026

Summary

Anchor Dani Burger hosts on a holiday-shortened session after a sharply weaker-than-expected June jobs report (57k vs 113k est). Markets rebound as the data eases Fed hike fears, but chip stocks continue selling off on leverage and overvaluation concerns. BlackRock's Rick Rieder advocates for European duration, European credit hedged to dollars, and securitized carry, while avoiding US Treasury duration. Bridgepoint's acquisition of Kayne Anderson Real Estate fuels talk of a decade-long super cycle in medical office, student housing, and senior living real estate. OpenAI reportedly proposes a 5% government stake, and IQM Quantum lists via SPAC.

• June payrolls miss badly at 57k vs 113k estimate; unemployment rate falls to 4.2%
• Equities attempt a rebound but chip stocks, especially memory names, remain under pressure
• Simon White warns liquidity drain from inflation and leveraged ETF unwind threaten short-term memory performance
• Rick Rieder sees value in European duration, credit (HY/IG) hedged to dollars, and non-agency securitized markets
• Rieder suggests avoiding US Treasury duration, favoring income and carry
• Kevin Hassett defends Fed independence under Chair Warsh and cites a construction boom
• Al Rabil describes a 10-year super cycle in demographic-driven real estate (medical office, student, senior living)
• OpenAI floats idea of US government taking a 5% stake; IQM Quantum debuts on Nasdaq