Russia hikes VAT / SNB & BoJ unch / NVDA-OpenAI / PLAT / PCE tom / Quarter-end flows to dominate now
- Stéphan
- Sep 25
- 4 min read
To achieve monetary gains, you are not buying “what is” right now. You are buying what may potentially be in the future
Markets : Fed's Daly is for more rate cuts (as exp), BoJ minutes (slightly hawkish), SNB unch as expected (willingness to intervene in FX markets, if necessary), Schumer hopeful Congress can avoid a shutdown but places onus on Republicans and Trump, Nvidia’s investment in OpenAI will be in cash, and most will be used to lease Nvidia chips, Copper up (mine closure-RIKS this particular mine finds it Very hard to reopen any time soon, too expensive!), Foreign investors now have a record allocation to U.S. equities, worth keeping an eye on energy stocks #XLE looks to be breaking up, #PLAT was a screaming buy few months ago... after 50% rally (worth a TP on some, look for levels to rebuy) >>> overall a 'definitive' feel of profit taking in well owned positions, momentum ETF etc, end of quarter profit taking by the looks
Geopolitics : Russia hikes VAT to 22% to fund war machine, China is quietly testing the foundations of the global financial order amid Bifurcation of the Global System (Thread), Turkey at the UN: Crimea is not Russia, If the Russians refuse to negotiate in good faith, it will be very bad for their country-JD Vance, Trump has made Ukraine such a staple issue of his administration he knows now he has to be seen in some sort of resolution
Bessent on Argentina: "The plan is as long as President Milei continues with his strong economic policies to help him, to bridge him to the election, we are not going to let a disequilibrium in the market cause a backup in his substantial economic reforms."
HSBC Claims Quantum Computing Bond Trading Breakthrough
SNB : Sees global growth subdued due to tariffs and uncertainty, inflation in US seen high but in EU close to target
Why now ? almost like meddling in another countries' politics or fair ?
Animal Spirits: A Mania is Brewing - A Wealth of Common Sense This has to be a bubble...right? S&P 10,000? Why is gold at ATHs in an AI boom? Why is there $7.7 trillion in money market funds? How the Fed can bring down mortgage rates The two-speed economy & more
On the other hand : AI 'workslop' is emerging as the latest office headache
Jürgen Nauditt 🇩🇪🇺🇦 on X: "The disaster came unexpectedly – production of one of russia's symbols, the Lada Aura, was halted. Fewer than 800 vehicles were sold, and in September 2025, it was decided to halt production. Not even advertising from putin helped – he extolled the car's virtues in front of a https://t.co/7A6HIAOJeb" / X
Anton Gerashchenko on X: "Several weeks ago, Putin said there would be no increase in taxes in Russia. Today, the Russian government officially announced that the VAT will grow from 20 to 22% in Russia starting on January 1, 2026. This money will go towards war. Each Russian will pay more for any https://t.co/djc5pM0RFA" / X
Kitco NEWS on X: "Platinum's BIG Comeback, but is it still a "Screaming Buy"? #gold #news #platinum #kitconews: Saxo Bank's Ole Hansen recalls when platinum was “a screaming buy”, as supply deficits and jewelry demand sparked a 50% rally. With a $2,200 discount to gold,… https://t.co/2rrogenvtV https://t.co/XI9Ske9jK5" / X
China's president Xi Jinping unexpectedly joins the UN climate summit, by video, to offer his nation's 2035 climate pledge Cut GHGs to 7-10% below peak by 2035, "striving to do better" Raise non-fossil share of energy to at least 30% * Boost wind/solar to 3,600GW
This is significantly below the at least 30% below 2024 levels that experts had said was needed to be in line with the goals of the Paris Agreement
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