GM. This is Milk Road Macro, the newsletter that makes the big stuff small enough to be stuff that’s easy to handle.
Here’s what we’ve got for you today:
- ✍️ Silicon fortress - Apple x Intel.
- ✍️ Trump, China, and the chairman.
- 🎙️ The Milk Road Macro Show: Bitcoin Is Inevitable… And Wall Street Is All-In w/ Ric Edelman.
- 🍪 Rocket Lab soared 34% after blowing past revenue estimates.
Nexo is back in the U.S. - and new clients get 30 days of Wealth Club Premier perks! Higher yields, lower borrowing rates, and crypto cashback - start here.
Prices as of 10:00 a.m. ET.
SILICON FORTRESS - APPLE X INTEL
While the rest of the world is sweating over energy, the tech sector is having a "rip-your-face-off rally."
Trump rejected Iran’s latest peace deal. So, that standoff continues. But so does the bull run.
The latest news? Intel is reportedly building chips for Apple.
Intel’s stock is up another 5% today and has now tripled since late March.
This is the "Great Re-Industrialization" in action. Investors are fleeing to AI infrastructure as a safe haven because the demand for "compute" is growing faster than inflation.
Speaking of which, U.S. inflation data is due out this week. Another story we’re watching in macro right now.
However, if you own the factories making the chips, you own the future. Inflation, or not.
CRYPTO SHOULD WORK HARDER FOR YOU
Most people hold crypto and hope.
The smart money? They're earning interest on it, borrowing against it without selling, and trading it.
Where can you do the same all in one place? Nexo.
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TRUMP, CHINA, AND THE CHAIRMAN
The Senate is expected to approve Kevin Warsh as the new Fed Chairman this week.
Finally.
Warsh has historically liked lower rates, but he’s walking into a "perfect storm" of high oil and hot inflation.
The real macro story this week has nothing to do with the new Chairman of the Fed.
President Trump is heading to China to talk tech and rare earth elements with President Xi.
He’s also bringing with him a huge squad of U.S. CEOs to join the party. Clearly, Trump is setting up a huge event. The markets are expecting big news to go along with it.
The Trump-Xi meeting is a real wild card. The outcome will dictate if the U.S. Dollar remains the world’s ultimate safe-haven currency or if we’re headed for a trade war sequel.
Ultimately, we’re leaning optimistic on this. The two leaders would either postpone or cancel the meeting if they weren’t both confident that the meeting would be worthwhile and end with tangible results.
What will those results be?
Well, I’m sure there’s a reason Trump is bringing so many American CEOs with him.
Stay tuned.
Wrapping up
“Run it hot” is turning into “run it hotter” as the global equity markets keep pushing higher.
We’ll be watching to see how hot inflation is running with it.
Congress could give us a new Fed Chairman and a Clarity Act this week.
Trump is definitely going to make some news in China.
It’s all happening fast. Try not to get swept away, but stay locked in and pay attention.
Or, as we like to say… Stay safe. Stay educated. And stay bullish!
BITCOIN IS INEVITABLE, WALL STREET IS ALL IN 🚀
In today's episode, we sat down with Ric Edelman, founder of Edelman Financial Engines and bestselling author, to talk about why crypto deserves a serious slot in long-term portfolios.
Here's what you'll hear:
- Why the current S&P rally is dangerously concentrated in the Magnificent Seven and what AI revenue means next.
- Why the old 60/40 glide path is outdated, and how a 10 to 40% crypto sleeve fits a longevity portfolio.
- How the Clarity Act and stablecoin yield fight could unlock the next wave of institutional adoption.
- Why Edelman still sees Bitcoin hitting $500k by 2030 as tokenization reshapes how all assets trade.
Hit play and dive in 👇️
YouTube | Spotify | Apple Podcasts
Real Finance Blockchain is an EVM-compatible L1 that is built specifically for RWA tokenization. Read more about Real Finance Blockchain here.
Midnight is a fourth generation blockchain that just launched last week. Check out their launch announcement here.
Pharos is an institution-grade layer 1 (L1) designed specifically to bridge real-world assets onchain. Join the Pharos community (X & Discord) here.
BITE-SIZED COOKIES FOR THE ROAD 🍪
Circle (CRCL) raised $222M in an ARC Token presale. It’s a huge sign that "onchain" finance is growing up, building the payment rails for a future where AI agents do the shopping.
Moderna (MRNA) shares jumped 8% today on reports of a hantavirus case in the U.S. The market now views Moderna as a "frontier tech" play that can deploy mRNA for any biological threat.
Rocket Lab (RKLB) soared 34% after blowing past revenue estimates. Between new deals and the hype for a potential SpaceX IPO, "Space Fever" is officially back.
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