Danny Moses Identifies Nvidia and the 10-Year Treasury Yield as the Market’s Defining Assets

According to Danny Moses, founder of Moses Ventures and a key investor chronicled in “The Big Short” for betting against mortgage-backed securities before the 2008 crisis, two assets currently command the absolute center of gravity in financial markets. Speaking Tuesday on CNBC’s “Fast Money,” Moses stated that the 10-year Treasury bond and Nvidia are the two most important assets for the market right now.

Investors are closely watching Nvidia in the countdown to its earnings report due after the bell Wednesday. The stock has pulled back following recent earnings releases, and this time, investors will be searching for crucial insights into the chipmaker’s dependence on hyperscalers. Nvidia shares rose about 2% on Tuesday, snapping a seven-day losing streak — its lengthiest daily decline since 2022. Despite the recent turbulence, shares are up around 14% in 2026. NVDA YTD mountain Nvidia in 2026 Moses, who is bullish on the stock, said he expects the company to beat earnings and guide higher on Wednesday. Wall Street appears to be on the same page: The average analyst polled by LSEG has a buy rating and anticipates around 40% in upside over the next 12 months.

“People should run and hide — Andy Garcia-style, ‘Ocean’s Eleven’ — because I’m long Nvidia,” Moses said.

Moses’ highlighting of the 10-year Treasury yield comes as the market intensifies its focus on government bonds. Investors have grown increasingly concerned that U.S. government spending has ballooned too far and that recent Treasury Department actions may not be adequate to address it. The U.S. 10-year note yielded 4.623% on Tuesday. US10Y 1M mountain U.S. 10-year Treasury, 1-month The monthly U.S. budget deficit topped $432 billion in July, marking its highest level since March 2021. U.S. government debt surpassed $40 trillion as of last week, having more than doubled over the last decade.

Treasury Secretary Scott Bessent said last week that his department would double debt buybacks in a bid to steady soaring long-dated bond yields. Bessent told CNBC that he has a “big toolkit” to soothe the government bond market.

“I don’t think there’s a reason to panic here,” Moses said. But, “now we’re going to highlight, kind of, the fiscal condition of the U.S. — and it’s not pretty.”

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