Ian Reynolds
Suberia Capital
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Overnight
Trump pulls US back from brink of trade war with Mexico and Canada [FT]
And....markets reverse as Canada and Mexico come to arrangements with Trump's demands.
Most crucially have their currencies, bond and stock markets returned to where they were before? Yes pretty much so.
Aussie, Bitcoin also. But Gold is significantly higher and telling us to beware.
And the US Treasury Quarterly Refunding is upon us. We're waiting for the auction breakdown to find out how Scott Bessent is going to manage the mess that Yellen left him in. Due tomorrow 5th Feb 2025.
Indicators Released Overnight
German YoY CPI ticked higher but lower for the month.
US ISMs positive across the board reflecting Trump's business first approach
Breaking
Trump pauses tariffs on Canada for at least 30 days [investing.com]
Trump Deal With Maduro Sends Venezuela Bonds to Six-Month High [Bloomberg]
US creates Sovereign Wealth Fund
Bitcoin
Bitcoin bounces back - up 10,000USD. Structure is now looking good for a breaking above 105k and then test the all time high again.
BTC / USD Daily
Foreign Exchange
The wild ride for the Loonie continues
USD / CAD Daily
Bonds
Despite the big rally in prices, yields are now ticking up again
US 10 Year Government Bond Yield
Precious Metals
Gold is significantly higher and breaking new ground
Gold / USD Daily
Commercial Real Estate
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Seeing a lot of distressed owners now, rather than distressed buildings.
Interesting
80% of Japanese Banks Set to Embrace XRP for Global Payments by 2025 [NASDAQ]
Economic Indicators Today
