Ian Reynolds
Overnight
US PPI January 2025
Hotter than expected PPI didn't faze the market after the CPI shock yesterday, and anyway Trump's promised reciprocal tariff announcement will be way more interesting.
Breaking
Trump’s Ukraine Plans Mean a $3 Trillion Bill for European Allies [Bloomberg]
Trump announces reciprocal tariffs on India.
Trump Tells Europe to Buy American Arms to Keep NATO Strong [Bloomberg]
Precious Metals
Gold trading near the all time high amidst anecdotal evidence of shortage of physical, from Chinese banks, South Korea, Costco
Gold / USD Daily
Equities
Stocks still bullish.
World Equity Index
Foreign Exchange
Possible break of head and shoulders neckline on the DXY.
DXY Daily
Bonds
Japanese bond yields threaten to break higher. If the US can't sustain higher rates because of debt servicing costs, it's going to be way more painful for Japan.
Japan 10 Year Government Bond Yield Daily
Bitcoin
Bitcoin snoozes or is it coils, waiting for it's moment to pounce.
Bitcoin / USD Daily
Interesting
US insurers face billions in losses from Los Angeles wildfires [FT]
Economic Indicators Today
