Very quiet data wise yesterday and a week of tariff announcements coming, along with Powell's 2 day testimony. We've had the shocks. Expect less volatility until the tariffs thing is fixed with all counterparties. Watch Gold.
China to boost residents' income to spur spending [Reuters]
Fury as Labour scraps China tariffs in huge blow to stunned UK businesses [Express]
China Marriages Fall to Record Low in Challenge for Government [Bloomberg]
Gold continues its amazing run, amidst rumours of a massive buyer that doesn't have to cash settle.
Gold / USD Daily
China Frees Possible $27 Billion From Insurers to Buy Gold [Bloomberg]
As spot markets consolidate, EM has taken a beating especially the Rupee.
USD / Indian Rupee
Markets positive overnight (except Tesla) as Trump has prepared markets for tariff announcements this week. Watch out the EU!!
Equity Markets Overnight
Bitcoin has woken up but still trapped.
Bitcoin / USD
Treasuries continue to be quiet, with all the reassurances put out by Bessent & Trump. Despite this yield is ticking up
US 10 Year Government Bond Yield
Powell front the senate and house panels today and tomorrow. He's going to get a rough ride.
Powell Heads for ‘Hyper-Charged’ Hearings Overshadowed by Trump [Bloomberg]