OpenAI hits Insurance brokers / Precious Metals bounce back after initial 'margin call-liquidation' / Greenland tensions still
- Stéphan
- 2 days ago
- 3 min read
Markets : Insurance brokers crushed after OpenAi approved the first insurer-built Ai app on ChatGPT (fabulous... one company who hardly employs anyone, nor pays any taxes, crushes a perfectly legitimate businesses...), Gold and Rates correlation breakdown (Apollo) >>> patches of weakness in some sectors, but overall, markets holding up well, precious metals found a base after the initial 'margin call, forced liquidation few days'.. USdollar not doing a whole lot, overall soft(er), USDJPY let's hear how drastic new PM wants to be with spending, etc..
Geopolitics : Iran's Ballistic Missiles put US Bases on notice, EU-US tensions over Greenland and tech are far from over, says Macron
See list of personal data you now need to share to enter the US. Otherwise you may need to go home at your expense / Thread
Stephen Miran advocated a smaller Fed balance sheet while maintaining the option for large-scale asset purchases during crises. Christopher Waller said the crypto euphoria sparked by Trump’s election may be waning amid a market selloff. (BBG)
Donald Trump’s effort to ban investment firms from buying single-family homes is meeting resistance from Republican lawmakers. (WSJ)
Much to the frustration of the quant community, when the Fed started raising interest rates in 2022, the strong correlation between gold and real rates broke down, see chart below (imho it's all about debt and debasement, 100bps here and there make no difference..), Trump and Co will run down the U.S in debt...and isolate itself (China again on UST's selling over the weekend)
Insurance brokers : From GS – “The immediate feedback still is a degree on confusion & the top question is 'Why would this primarily impact the brokers (who primarily do commercial .. think there's only home insurance at the majors for high net worth)' .. with a few arguing it's 1) more negative for personal insurance carriers given greater price transparency/shopping/competition, and 2) Insurance brokers dealing in more specialty products should be better insulated given complexity. All that said, there's certainly a degree of 'don't fight the narrative' .. and this is all very fresh/fluid at the moment”
Brian Allen on X: "🚨 Rep. Stansbury doesn’t mince words: “The United States government is engaged in an active cover-up of the largest sex-trafficking and influence-peddling scandal in our history — and Donald Trump is right at the center of it.” That’s a sitting member of Congress saying it out https://t.co/m3DnOD93p3" / X
Quite honestly... in recent months, this is when the coins should have rallied... they pretty much all got destroyed, still not a payment system, still not a currency, let alone a reserve currency, still not a safe heaven (clearly..), so what good it it for exactly ?,,,,apart from burning energy and facilitating fraud... ?..
OH yes there was this the other day too... total fraud... George Noble on X: "Jim Cramer is a FRAUD. This guy really just went on CNBC and said the government is buying Bitcoin at $60,000. Let me tell you why his narrative (and Bitcoin) is COMPLETE NONSENSE: Friday, Bitcoin crashes to $60,000. Down 52% from its October high. Over $1.2 trillion in value https://t.co/Z2zGrYgjIx" / X
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