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Bessent 'I'm the house'..really? / Trump $1.3trn promise to voters / Brent $100 / ECB to hike / UST yields up & USD ?
Bessent bond plan details revealed ( (tested right after announcement last night, 10's UST up 5bps to 4.84%..) as Treasury secretary tells FX traders he’s ‘the house now’..., one might dislike is rather bold or cocky approach, but has been consistent so far (it's not about morals and attitude, its about what he wants markets to do..and so far it's spot on... with regards to JPY strength, and more ahead ! #USDdebasement #duration risk (as Trump added another $1.3trn of promises overnight..)..., given inflation and relative strength in US K economy 4.85% in UST yields is not crazy at all LONGTERM, not at all, but you need charts going back 30-50years, not just 15years..
Trump promises to send a $ 5'000 check to all Americans, that's another $ 1.3 trn to come up with #debasement #GOLD , XPT had a very nice break up, XAGUSD awakening too, honest guv : ''just an honest public bride to voters'...
This is a WILD divergence 'the gap between US & Chinese 10Y yields just hit a record 3.17%''.. - US yields are rising on debt supply & hike expectations - China's yields are falling on weak credit demand & deflation..
Markets : Brent over $100, UST 10's 4.84%, ECB to hike 25bps today (priced in), and we get U.S PPI later, followed CPI tomorrow, both pretty key given UST's, the response to U.S treasury buy backs this week (total of 14bn!!..) is quite telling...beware.., only 37% of S&P 500 stocks are trading above their 50-day moving average, the worst market breadth in more than 5 months, Anthropic reports fourth cybersecurity incident with early version of Claude, >>> USDJPY while <155, heading for 142, confirmation through 152.50 area >>> UST yields are up and USD is NOT rising ... this is highly unusual #debasement #gold #xpt #xag in play #GDX #mining companies
Surprise..?..nope....AI data centers won’t create as many UK jobs as the tech sector projects, think tank warns
Iran and US hit tankers in biggest wave of attacks on shipping since war began | Iran said on Wednesday it had attacked 10 ships near the Strait of Hormuz after the U.S. sank five Iranian oil tankers, in the biggest wave of attacks on shipping by both sides since the start of the six-month-old war. (Reuters) => Brent holds above $100 as tanker attacks deepen supply fear
More debt, more debasement..
Market calling his bluff ... Nic on X: "Treasury buybacks this week: up to $14.5B. 10Y yield's response: 4.85%, highest since 2023. The government is now buying its own debt & the market is selling into it. The treasury is quite frankly pissing into the wind. https://t.co/BBzrWC2tLM" / X
Lisa Abramowicz on X: "Traders are implying almost three Fed rate hikes ahead, with 2-year Treasury yields 66bp above the current fed funds rate. That's the biggest differential since 2022, during the post-pandemic rate-hiking cycle. https://t.co/1ZepcEuw4E" / X
What's next after #AI ??...... Advertotial 3
#QTUM Sundar Pichai To Step Back From Google, Jumps on Quantum Computing Financial Tech
Excellent #XAGUSD #Silver analysis 🇦🇺Craig Tindale on X: "The Silver Turnstile: Tracking the 330 Million Invisible OZ That Prevent Delivery Failure" / X
Liz Webster on X: "Johnson had no credible plan for making Brexit work. Sunak tried to manage the consequences. Starmer inherited the damage and then inexplicably imposed his own red lines ruling out the Single Market and Customs Union. Now Burnham wants a European deal capable of adding https://t.co/vYCflbCcFV" / X
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