Middle East crisis not going away, this geopolitics risk is probably way under-priced- big picture and one to think about (supply disruption, crude, energy etc) >>> you may get now regular friday question of 'who wants to hold risk into weekend'
BLINKEN: "With regard to our policy in Gaza ... if we don’t see the changes that we need to see, there’ll be changes in our own policy."
Fed Latest: Kashkari & Goolsbee floated possibility of no rate cuts in 2024 (2nd tier members for markets), markets were running out of steam, what really mattered after that was ME geopolitics, #Brent oil jumped over $90/bbl for 1st time since October as the conflict in the Middle East showed signs of escalating, #VIX, #ODTE crowd bought a lot of SPX puts, bonds bid, all within 10minutes, gradually, then suddenly, though for now equity have hardly move, noone should be surprised of a 5-10pct correction in some of the way overdone sectors (Techs, Ai, mag7, concentration of risk etc)
Interview with Dr Thomas Hoenig was CEO of the Kansas City Fed, a voting member of the FOMC, and a Director of the FDIC - long but the guy was highly regarded -not a pretty picture Fed/U.S Treasury etc - well worth a listen - IMHO
The world needs over 2x the current annual supply of several key minerals to meet global climate pledges by 2030:" MS. China dominates production of these minerals, presenting "a challenge to the United States as it seeks to meet its climate goals and de-risk from China
Credit Suisse AT1: FINMA asks court not to show files to plaintiffs!
Ford to delay all-electric SUV, truck to focus on offering hybrid vehicles across its line up by 2030 >> You can build 25 hybrids with the minerals that it takes to build 1 EV," says Celebrity Motor Car Company owner Tom Maoli
CME raises Gold margins by 6.8% & Silver margins by 11.8%
The Biden administration has faced accusations of double standards online after stating it does not support Taiwan's independence on the same day it announced Ukraine would join NATO
SPX - time for a welcome correction - QQQ same and most of major indexes, together with a big rotation our of growthy stocks into enegry, quality, commods etc for Q2
Brent crude oil settles above $90 for first time since October (gulfbusiness.com) geopolitics and OPEC+ reaffirms supply cuts
Credit Suisse AT1: FINMA asks court not to show files to plaintiffs - Antigua and Barbuda News ! this is quite a statement !
China’s Economy Is Bottoming. When Do Chinese Stocks and Commodities Become Buys? | InvestorPlace >>> back in January ..
https://twitter.com/michaelxpettis/status/1775809960636551651 .end of an era.. and not just talking about Janet :-) but china, trade relations, globalization, less foreign UST buying & the dreaded talks of de-dollarization.....in a word : most of it is inflationary, hence #highforlonger (not higher, just a higher plateau than many have been accustomed to last 15y ) in rates and inflation not heading back to 2%
Michael Pettis on X: "1/4 According to French Finance Minister Bruno Le Maire, "Europe needs “re-balancing instruments” to better defend its economic interests and avoid being squeezed between US protectionism and Chinese interventionism." https://t.co/5z0QqgMYvi via @economics" / X (twitter.com)
Politicians are great at coming with big headlines, sounds good, but how is what that matters, and they often fail to give any real solutions..
More on copper : Scott Willis on X: "Is the long awaited #copper shortage finally here? In the short term YES Contango = not enough copper today But what about the medium term? The answer...most definitely! Here are 10 charts to back it up🧵 https://t.co/8T6d3mdv96" / X (twitter.com)
Adam Taggart on X: "I know I'm biased, but this interview with former Fed exec Thomas Hoenig may be the most important one I've yet done Essential viewing for Thoughtful Money viewers, IMO Hard truths from someone who's been "in the room" at the power center" / X (twitter.com)
Joe Lewis: British billionaire and Spurs owner spared jail time after pleading guilty in US to insider trading (msn.com)
Rescue teams in Taiwan searching for family feared trapped in rockslide following earthquake (msn.com)
SPX - too high too fast - time for a welcome correction
Brent crude
