Limit Up!

Limit Up! 25th February 2025

Written by Ian Reynolds | Feb 24, 2025 2:17:28 AM

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Overnight

Markets were calm(ish) over the weekend after the brutal end of last week. No follow through in Bitcoin and futures pointing slightly higher currently. 

Germany's election was possibly the worst possible result for a political union bereft of decision makers.

Germany’s election winner pledges ‘independence from US’ [FT]

Germany’s Friedrich Merz promised to “achieve independence” from the US after his centre-right bloc won federal elections, putting him at the head of a potentially complex coalition at a time of upheaval for Europe. 

Economic partnership will protect the Ukrainian people and the US taxpayer [FT]

Breaking

 

Precious Metals

Gold consolidating just below 3,000 but bullion still flowing from London to New York. Plenty of conspiracy theories abound!

GOLD / USD Daily

Equities

Beautiful retracement to the scene of the crime for the NASDAQ daily but despite the technical negative you can't help think that it could still spike higher.

NASDAQ Daily

Foreign Exchange

YEN strengthens as USD weakens at the same time.

USD / YEN Daily

Bonds

US yields break below near-term support. The markets are trying to work out how the Treasury Secretary drives the 10 year yield lower, and one would be to starve investors from those coupons. Almost like what Janet did. 

US 10 Year Government Bond Yield Daily

Bitcoin

Just as we moved higher, we ran into a US stocks sell-off, biggest ever hack so we're back to where we were before.

BITCOIN / USD Daily

Economic Indicators Today

Not much today, and economically all eyes on US PCE this week.