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Bessent : USD or UST's / China-US : about rare earth / Tariffs deadline tom / Precious metals up

  • Writer: Stéphan
    Stéphan
  • Jun 3
  • 3 min read


  • Markets : Bessent may have to choose (UST's or USD), IMHO you can't have it both ways, weaker U.S ISM manufacturing, WS fears foreign tax in budget bill, US pushes countries for best offers by Wednesday as tariff deadline looms, #Gold #XAG #XPT #PALL all nicely up, #SILJ #GDX beginning to look like a decent break UP in tall this, copper should follow, decent JGB auction, but Chinese data was softer overnight

  • Powell said: "The end of the Bretton Woods era in the 1970s, fundamentally changed the conduct of monetary policy." The signals are all over the place. Why bring this up now?

  • Treasury secretary Scott Bessent insists US will ‘never default’ on its debt >>> ....Not nominally.. if the debt is safe, the currency is unsafe #USD

  • Canada Ditches U.S. Defense for $1.25 Trillion EU Pact

  • China's rare earth restrictions: More collateral damage from US export controls.EU and U.S to meet on Wednesday on trade, Eu strongly regrest U.S decision to raise steel tariffs, EU prepared to impose countermeasures is talks fail - the stage is set..

  • Pantheon / Have bunds considered that Germany spending 5% on defence is €250B per year, at 2024 GDP. Assuming a 10Y implementation of the infrastructure fund, that's €300B a year, just on those two. That implies, holding other components equal, a 6x rise in annual net bund issuance

  • BBG / A gloomy outlook for US assets. DoubleLine joined Pimco and TCW in shunning 30-year Treasuries, shifting to shorter maturities amid worries about US debt >>> finally coming through with what's been pretty obvious for a while #UST supply...it's the bonds or the currency, Bessent and Trump actually 'welcome' a weaker USD

  • Malaysian PM Anwar delivered a quiet but firm rebuttal to US pressure

  • "I just got back from China last week," Dimon said. "They're not scared, folks. This notion that they're going to come bow to America, I wouldn't count on that."

  • There’s a total of $698 billion worth of homes for sale in the U.S., up 20.3% from a year ago and the highest dollar amount ever




















 
 
 

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