Powell staying on the board is a political move, violating Fed norms. Despite two rate cuts priced out and a 60% surge in oil prices, the Nasdaq has rallied 4-5% and the 10-year yield is only up 20bps. Zervos is 'even more bullish' as this resilience signals strong market momentum, suggesting equities are correct in not needing rate cuts and are poised for a strong year.
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David Zervos 9.0
Investment Bank $57.00B
David Zervos 9.0
4/30/2026 1:12:41 AM
dxy
The dollar is basically flat.
| 3/19/2026 4:23:21 PM | short term up | 5 days later | -0.05% | -0.05% |
| 3/19/2026 9:28:23 AM | short term cautious up | 5 days later | -0.05% | -0.03% |
| 12/9/2025 1:59:10 PM | medium term cautious down | 20 days later | -0.56% | +0.28% |
ndx
Zervos states the stock market has rallied 4-5% despite headwinds, and he is 'even more bullish' because the market is withstanding negative shocks. He expects momentum to continue into a 'pretty incredible year'.
| 12/22/2025 2:33:41 PM | medium term up | 20 days later | +0.78% | +0.78% |
| 10/29/2025 11:31:07 PM | short term up | 5 days later | -1.16% | -1.16% |
wti
We've seen energy prices go up almost $50 from 60 and change to almost 110 today... the energy complex rise 60% in price... which doesn't look like it's going away anytime soon.
| 3/19/2026 9:36:59 PM | short term up | 5 days later | -8.14% | -8.14% |
| 12/22/2025 2:33:41 PM | short term down | 6 days later | -0.51% | +0.51% |
yields
Ten year note yields are what, up 20 basis points during this whole storyline over the last two months? That's one bad day on a payroll number.
| 4/27/2026 7:46:28 AM | medium term cautious up | 20 days later | +6.18% | +3.09% |
| 1/2/2026 5:09:52 PM | medium term down | 21 days later | +1.15% | -1.15% |
| 12/22/2025 2:33:41 PM | medium term down | 20 days later | +0.43% | -0.43% |
| 12/1/2025 8:38:44 PM | medium term down | 20 days later | +2.03% | -2.03% |
| 10/16/2025 3:07:34 PM | medium term cautious down | 20 days later | +2.15% | -1.07% |
| 9/3/2025 7:11:49 PM | medium term down | 20 days later | -0.69% | +0.69% |
| 8/28/2025 6:44:17 PM | short term down | 5 days later | -0.38% | +0.38% |
| 8/20/2025 8:30:01 PM | medium term cautious up | 20 days later | -6.88% | -3.44% |
| 8/20/2025 8:29:45 PM | medium term cautious down | 20 days later | -6.88% | +3.44% |
| 8/20/2025 3:30:11 PM | medium term cautious down | 20 days later | -6.88% | +3.44% |
| 8/14/2025 8:32:54 PM | medium term cautious down | 20 days later | -3.51% | +1.76% |
