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SpaceX ... mindboggling numbers...for a company that lost $5bn last year.. THIS IS the liquidity event, the most expensive, biggest IPO ever.. it will be fascinating!!, valuations don't matter, till they eventually do... Iran Update : Marco Rubio sees ‘good signs’ US could reach deal with Iran. Pakistani mediators expected to travel to Tehran as diplomacy to end conflict intensifies, Iran Moved Billions Through Binance to Fund Regime—Continuing Into This Month. The crypto transactions took place despite repeated red flags. Binance says it has “zero‑tolerance for illicit activity.”..., Markets : ‘Fast entry’ SpaceX, OpenAI and Anthropic IPOs to ignite Wall St trading frenzy. Passive investors set to dump billions of shares to make way for new stocks, Margin debt is surging into crazy levels (chart available on request), U.S Mortgage Rates hit a 9months high in blow to Prime Buying Season. The 30-year mortgage rate increased to 6.51% this week and looks poised to keep rising Anthropic, the company building Claude, the company that positions itself as OpenAI's biggest threat, the company valued at over $100 billion, is paying SpaceX $1.25 billion EVERY SINGLE MONTH for compute capacity through May 2029. That is $15 billion a year flowing directly from Elon's top AI competitor into Elon's bank account. Think about what that means! (Thread) Jensen Huang says Nvidia has "largely conceded" China's AI chip market to Huawei 'Some good signs' a US-Iran deal to end war could be in sight, Marco Rubio reveals Although.. Supreme leader says enriched uranium must stay in Iran, sources say | Irish Independent OpenAI, SpaceX and Anthropic will reshape how investors access artificial intelligence SpaceX IPO: Inside the S-1 filing, potential valuation, and what Elon Musk's empire means for the market Thierry from arvy 🇨🇭 on X: "🚨YOU ARE THE EXIT LIQUIDITY You are about to be offered the most expensive IPO in modern history. SpaceX's S-1 just dropped. The headline numbers: - 2025 revenue: $18.7 billion - 2025 net loss: $4.9 billion - Q1 2026: still losing money - Reported IPO valuation target: https://t.co/vaPLoKjsGN" / X Ricardo on X: "Elon Musk's biggest competitor is secretly paying him $1.25 BILLION per month. SpaceX just revealed its financials for the first time in 23 years of existence. And buried deep in the S-1 is a detail that changes how you should think about the entire AI race. Anthropic, the https://t.co/zU7TYupLD9" / X Alex Mason 👁△ on X: "🚨 SOMETHING VERY STRANGE IS HAPPENING The stock market keeps pushing to new all-time highs. But nobody is paying attention to what’s actually happening. OpenAI and Anthropic are now worth $2.7T. That’s 7.2% of the entire Nasdaq. Without being public companies. Without https://t.co/fhFjAMG4R9" / X Arnaud Bertrand on X: "This is an extraordinary document written by the research arm of China's spy agency (the powerful MSS, basically the CIA and the FBI all wrapped in one) that absolutely zero media has picked up on. As far as I can see, I'm the first person to write about it even though it was https://t.co/gwezqfPK0U" / X The document contains perhaps the most authoritative description of where China thinks its relationship with the U.S. stands, and where it’s headed. The title of the report is “The Great Global Transformation and the Path to U.S.–China Coexistence” and I provide a full translation of it in my article, the link of which is at the bottom of this post. To summarize briefly the most important - and, perhaps, surprising - aspect of the document: China's spy agency - the one institution whose entire job is to worry about the U.S. threat - has largely stopped worrying 'Chess Piece’ to ‘Blood Bag’? What Trump-Xi Summit Could Spell for India - The Wire Can copper prices push past historic highs? – The Armchair Trader The 'Boris Johnson trap' Farage risks falling into over £5m gift Elliott Wave International on X: "🚨 Stock valuations have drifted beyond the edge of the financial solar system. The S&P 500’s dividend yield is sitting near its 2000 extreme at just 1.06%, while the S&P 400 Industrials’ price-to-book ratio has reached an all-time high of 8.02. In other words: investors are https://t.co/lhh5nGq1iT" / X Nvidia's impressive earnings fall flat with investors. Has the stock lost its edge?

Iran deal, SpaceX, Ai and crude down, markets loving it Iran update : Trump close to a deal with Iran..., Iran is consolidating control of Hormuz with island checkpoints, diplomatic deals –and sometimes ‘fees’. Iran is enforcing a multi-tiered system for clearing vessels through the Strait of Hormuz. The U.S. has warned against complying with Iran’s controls. Some shippers and governments are taking the risk Markets : Many Fed officials called for the central bank to drop its easing bias and signal its next move may be a rate hike, according to minutes of last month’s meeting, Israel parliament dissolved, China banned NVDA RTX 5090D V2 chip!, SpaceX IPO coming, Gold miners are now doing more share buybacks than at any other point in history >>> markets higher quite easily again, crude sub 100 again, 5pct or so down on Trump taunting a great Iran deal Big Tech software era is over, says top investor James Anderson. Former Baillie Gifford fund manager says spoils of AI war will flow to hardware suppliers French PMIs registered one of the largest drops in output and employment outside covid and the sovereign debt crisis. Inflationary pressures are rising and tighter financial conditions will only make things worse Trump says willing to wait for a few days to get 'right answer' on Iran peace deal - Yahoo News UK Fed April Meeting Minutes Offer Color On Handling Rising Inflation Risks Federal Reserve Board - Minutes of the Federal Open Market Committee, April 28-29, 2026 BoJ’s Koeda: Core inflation is already near 2% Xi and Putin wrap up talks in Beijing with no final details on gas pipeline - follow live - BBC News The skunk at the party: Jamie Dimon warns about inflation and oil prices spiking at the same time, which historically led to recessions Jeff Bezos says bottom half of earners should pay zero in income taxes ..It was admitting out loud that the people carrying the country on their backs are getting crushed while the system tells them it’s “normal.” Europe markets cautious as flash PMI numbers miss estimates Israel’s parliament has dissolved. Is this the end for Netanyahu? Japan exports rise for eighth month despite supply disruptions | Reuters Revolut receives green light for UK leveraged trading services – The Armchair Trader Mining: More Profitable Than Tech - Tavi Costa The SpaceX IPO filing is filled with AI bets, Starship dreams, and Elon Musk at the center | TechCrunch Nvidia delivered an earnings beat. See the key numbers. BUT...China just added Nvidia's RTX 5090D V2 to its customs banned list. During Jensen Huang's visit. With Trump in town. The chip was designed specifically to meet US export rules. Banned anyway. Beijing is making it clear: the era of Chinese reliance on US tech is over. China banned Nvidia’s gaming chip while CEO Jensen Huang was visiting Beijing with Trump Peak Farage already, and he has to answer questions now about that £5mio 'donation' or bribe depending on who you ask.. The Daily Britain on X: "21 kicked out. 28 defected. 39 resigned. 5 suspended. 1 disqualified. 5 lost seats. That's approximately 99 Reform UK councillors and representatives who have left the party. 22 of them since the local elections just two weeks ago. The party claims "some of the strongest https://t.co/ROa7yG7ZFk" / X

It's NVDA earnings time after the bell again Iran update : Trump appears to be trying to shift attention from Iran to Cuba (you just know its when not if), NATO may send naval forces to protect Strait of Hormuz oil route amid US-Iran tensions, crude softer overnight though, welcome ! And in true authoritarian style... Donald Trump and sons granted ‘forever’ immunity from existing tax audits Justice department deal comes day after government set up $1.8bn fund to pay president’s allies hit by alleged ‘lawfare’ Markets : Global M2 money supply has reached $141T in 2026, up 9.3%, in other words your savings just got diluted by 9.3% in one year (hence most asset prices higher - not all but most), Japanese government bond yields are BREAKING RECORDS across the curve (Thread-chart), Biggest risk to stocks says BofA: a "second wave" of inflation, 30-year TIPS now yielding nearly 3% real, the US 30Y Note Yield officially hit its highest level since July 2007, at 5.19% >>>> WHAT IF the biggest bubble of our lifetime isn't crypto? not AI stocks, nor real estate...but BONDS ... "The earnings outlook is more dependent on a few stocks than ever before" --BofA the top 5 cos make up around a quarter of S&P 500 earnings Too euphoric Goldman Sachs-“Market pricing of US growth is beyond even our 2027 forecasts" (all about the money supply, big beautiful deal-free money.. checks..) Germany’s Merkel criticizes EU for not talking to Russia, well.. Jackson Pollock painting sells for record $181m at auction Jeffrey Currie : Everybody talks about the Magnificent 7, but my focus is on the “Munificent 7”. Who are they? Donald Trump and sons granted ‘forever’ immunity from existing tax audits #GOLD Ole S Hansen on X: "#Gold has settled into a relatively narrow USD 4,500-4,590 Fibonacci retracement band and, more broadly, remains trapped between two moving averages: the 200-day moving average near USD 4,355 on the downside and the 50-day moving average around USD 4,705 on the upside. The https://t.co/9rTrZTWzt1" / X The Case for Locking In 3% Real Returns - by Bob Elliott The Kobeissi Letter on X: "Bond markets are flashing red. Today, the US 30Y Note Yield officially hit its highest level since July 2007, at 5.19%. This will soon become Americans’ biggest problem, yet the vast majority do not even know it is happening. What is happening? Let us explain. (a thread) https://t.co/Yyi1R00DPV" / X Global Markets Investor on X: "🔴 Japanese government bond yields are BREAKING RECORDS across the curve: The 40-year Japanese government bond yield has risen to 4.39%, the highest since this maturity was introduced in 2007. The 30-year yield has surged to 4.15%, the highest since its debut in 1999 while the https://t.co/bQea5q5npN" / X Trump’s China Opening and Japan’s Taiwan Anxiety – The Diplomat NATO Weighing Naval Deployment in Strait of Hormuz Amid US-Iran Tensions: Report | Mathrubhumi English UK growth forecast upgraded by IMF but 'risks' remain Starmer must go before next election, say Labour-backing unions Germany’s Merkel criticizes EU for not talking to Russia – POLITICO ...Angela bears major responsibility for Europe’s post‑2022 economic mess: she shut nuclear, underinvested in renewables, and left Germany dangerously reliant on Russian gas. That dependence was then weaponised by Moscow, turning a long‑running policy error into a self‑inflicted strategic disaster.... James Wood 武杰士 on X: "🇨🇳 Xi Jinping doesn’t just “fight” corruption: For over 13 years he’s waged total war on it 💪 Millions of officials investigated, tens of thousands punished, “tigers” at the very top dragged down without mercy. No one, not even close allies or family, was considered off-limits. https://t.co/opCxr2xvnJ" / X Ex-Samsung Chip Boss Says China's DRAM Blitz Could Crush The 414% DDR5 Price Spike Within A Year Jackson Pollock painting sells for record $181m at US auction Jeffrey Currie 🆔++ on X: "Everybody talks about the Magnificent 7, but my focus is on the “Munificent 7”. Who are they? They are oil companies and asset-heavy businesses generating real free cash flow yields in an AI sector that is trying to achieve breakout despite increasing constraints by energy, https://t.co/87xbNHiGuy" / X

Pure Value Metrics AG is a Global Asset Manager based in Pfäffikon, Switzerland. We also provide Multi-Family Office Services specializing in Trusts for International investors Pure Value Metrics: Bespoke Managed Account Solutions Through managed accounts, with the assets held legally in your name at a Swiss bank custodian, we provide comprehensive tailored asset management solutions and innovative multi-family office services, including trusts. Relative Value investing anchored by detailed balance sheet analysis PVM is a Swiss based asset manager for Global Markets, with a unique Investment Matrix dynamic portfolio selection process, which involves targeting single value stocks and then taking a deep dive into their balance sheets for financial robustness and then assessing their relative value both against their competitors and themselves, to determine the investment entry and exit point. PVM BITs BLOG Our daily round-up of Global Macro Market Trends and insightful news topics are offered with a free subscription Subscribe Blog U.S CPI 3y highs, FI weaker, JGB 10y yields highest since '97 / Air Force filled with top CEOs meeting Xi tomorrow Crude higher, ceasefire on 'life support' / Bessent on USDJPY / UK's Starmer in stormy waters / Aramco, GOLD, India.. U.S-Iran fail to agree on terms to end war, Crude up 5% again / UKR-RU update / Xi-Trump meeting key this week Media Apperances PVM CIO on CNBC PVM & Bloomberg on Global Macroeconomics Please reach out to discuss your requirements Contact us / Visit our office

Asset Management Using our unique relative value based Investment Matrix we build portfolios with superior analytical metrics, compared to mainstream equity indices. We currently have two different Portfolio offerings; firstly our classical Long only Global Equity model (suitable for all investors), and a Multi-Asset Class model, designed to generate additional alpha (suitable for Professional and Institutional clients only). We deliver discretionary portfolio management through individually segregated accounts held in your name. This flexible mandate empowers you to complement our core PVM Investment Matrix Portfolio by actively incorporating listed securities of your own selection. PVM Global Equity Long Strategy Type Long Only Global Equity Suitable for All Investors Focus Absolute return/low risk Minimum Investment 150k CHF 2025 Performance 2026 Performance (30. April) +21% +3.6% Performance over 10 years +102% More PVM Global Multi-Asset Strategy Type Multi-Asset Class Suitable for Qualified Investors Focus Absolute return Minimum Investment 250k CHF 2025 Performance 2026 Performance (30. April) + 26% +2.6% Performance over 10 years +170% More Our Investment Philosophy Investment Matrix Fundamental Design In 2015 we developed our dynamic Investment Matrix consisting of many fundamental variables, designed to identify value opportunities within Global Equities. Our Investment Matrix is constructed to identify and establish sustainable value. There are many reasons why that value may also not be sustainable, such as changing consumer sentiment or spending more on share buybacks than current cashflow permits, the PVM Investment Matrix reacts to these changes. Algorithmic Processes Systematic Throughout We utilise proprietary algorithmic screening, with a high degree of automation, to analyse the global equity universe, monitor our Clients' Portfolios, and identify new opportunities. Furthermore, we use algorithmic execution tools when buying and selling our clients' portfolios, where appropriate. Qualitative Rationale Deeper Understanding Driven by deep analysis of balance sheets and employing further levels of qualitative analysis, results in a thorough understanding of the companies we invest in. We consider factors, such as; the mix of Goodwill and Intangibles to Net Equity, tracking deviations from recognized Accounting Standards and taking a broader view of the global economic landscape. Robust Returns, less Risk Better Together The combination of quantitative systematic analysis, overlaid with qualitative reviews and active management within clearly defined parameters, results in an investment model which is both robust and not easy to replicate. Stable returns are achieved by taking less investment risk, at higher valuations. Investment Process We believe that an uncompromising investment process is a key component in delivering consistent returns.