Ian Reynolds
Breaking
Dollar drops over report Donald Trump considering scaling back tariff plans [FT]
Confirmed Trudeau resignation in Canada. Canadian dollar rallies
Immigration, voter fatigue undid Trudeau, not Trump [AFR]
Mark Carney says he is considering running for Liberal leadership after Trudeau resignation [Globe & Mail]
Loonie Gains as Wall Street Weighs In on Trudeau’s Resignation [Bloomberg]
Michael Barr to step down as Federal Reserve’s top Wall Street regulator [FT]
Police to take over efforts to detain impeached South Korean president [ABC]
Nippon Steel and US Steel sue after Joe Biden blocks $15bn deal [FT]
Foreign Exchange
USD slightly weaker versus Aussie, Euro, Yuan and up against Yen. BoJ watching the intervention level.
USD / YEN Daily
Equities
All quiet here.
Bonds
UK 10 year bond yield back to 2008 level.
UK 10 Year Gilt Yield Monthly
Commodities
The pause in Gold retracement seems have given Silver a good bounce, maybe also the news overnight that tariffs might actually have some logic.
Silver / USD Daily
Any chart of Silver is a total mess and most services don't include the all time high when Bunker Hunt and his brother tried to corner the market.
Crypto
Bitcoin is the best performing asset with a failed head and shoulders pattern driving price higher. Plenty of resistance through the chop but should lead to a near term 115,000 to 120,000 target
Bitcoin / USD Daily
Commercial Real Estate
A host of stories of deep discounts in commercial real estate sales. Here's a good link. Nightingale Associates [X]
Metrics takes control of Melbourne site to rescue $750m development [AFR]
Interesting
UK and France Govts seem to be battling Trump / Musk. Look what happened to Trudeau.
UK visitors from dozens of countries will have to pay a new entry fee starting this week[CNBC]
