Daily LinkedIn | Weekly LinkedIn | Next event | Check out the website
Economic Indicators Overnight
Not much economic data and weakish stock markets set the tone to Risk Off.
Plenty of headlines coming about peace in Ukraine, EU still having a meeting and Putin's renaissance.
A momentary lapse in the Gold saga
UN Security Council passes US resolution calling for ‘swift end’ to war in Ukraine [FT]
Gold still flowing into NY from London as spot makes a new high.
GOLD / USD Daily
We have had months of the US / China government bond yield divergence but yesterday that changed. A continued rally in US bonds in the wake of lack of issuance in the quarterly refunding and more fiscal rectitude.
US 10 Year Government Bond Yield Daily
But China's 10 year government bond yield has spiked.
China 10 Year Government Bond Yield Daily
Finally some action as we retest support at 91,000. A confirmed break below leads to 75,000. Negative stock markets and general risk-off (too many headlines) as well as some technical factors and unwinding of positions as well as the hack last week of course. And where is the news from Trump about BTC Special Reserve etc? Nothing's changed though so HODL if you can.
BITCOIN / USD Daily
Individual stocks (Palantir, Carvana etc) massively overvalued and in an absolute bubble which is now popping. The index seems to be holding up for now and DAX hit a record high after the German elections yesterday. Chinese markets reversing with bond prices.
World Equities
China’s Local Government Bond Rush Worsens Liquidity Strain [Bloomberg]
Microsoft Dropped Some AI Data Center Leases, TD Cowen Says [Bloomberg]