Burnham clears path to EU summit with post-Brexit breakthrough. UK and Brussels to go ahead with key November meeting after agreeing to kick talks on industrial subsidies into next year - we have been long/positive on GBP for a few months (on valuation), let's see how far we can go now on this confirmation #GBP #GBPCHF (he's probably setting up an election for middle of next year...) Markets : FTC opens sweeping probe of Anthropic, OpenAI and other super SI - intelligence models - NY Post (why do you think they all met with Trump day before..), Almost 60% of S&P 500 stocks are trading below their 200-day moving average, the weakest market breadth since May 2025, stocks boosted by MICRON results last night, BOJ debated more rate hikes, scope for faster move at Sept meeting >> UST rates did NOT stay down long after weak PCE yesterday !.. USD back on firmer side, GBP shoudl continue to be underpinned by EU talks and Summit in Nov..!, risk overall should or could well have a correction lower and struggle in Q4 (yields beginning to seriously bite, debt repriced -Oracle and many others >>> Global bond sell-off deepens-FT-Thread and chart below) Iran says it receives US response to latest proposal | Iran said it had received a US response to its latest proposal to resurrect the ​collapsed ceasefire in the Gulf, days after President Donald Trump said he had rejected it, Bank of England’s Taylor: No need for interest rate hike PGIM caps AI-related debt exposure at 15% in CLOs, signalling institutional caution on tech lending..! ...credit warnings leading equity markets ... Gold is negatively affected by “real rates”, but that mantra falls apart if rates rise enough to crush a government’s ability to pay the interest on its debts without printing enormous amounts of fiat. I’ll dare to suggest that 7% is the number where the Gold-rates mantra dies & a new debt-rates mantra comes to life. Some pundits are currently suggesting that AI brings an existential threat to humanity. That’s theoretically possible, but what’s much clearer is that 7%-10% rates are an existential threat to most governments of the world. ~ Stewart Thomson THIS ANTHROPIC IPO IS THE MOST DANGEROUS DEAL I'VE SEEN IN MY 45-YEAR CAREER / Thread (FWIW couldn't agree more..), Anthropic's IPO pitch embraces AI's promise and peril Russia warns NATO it could use nuclear weapons over Kaliningrad Burnham clears path to EU summit with post-Brexit breakthrough US goods trade deficit widens sharply in August | Reuters Bank of England's Taylor: No need for interest rate hike Bank of England Warns $450 Billion AI Debt Surge Could Trigger Financial Market Crisis - The420.in Financial Times on X: "Global government bond markets came under renewed pressure as yields in Japan and Australia approached multi-decade highs following a sell-off that pushed US Treasuries to their worst month in four years. https://t.co/pv8xHPwXW4 https://t.co/78rm4UFrAI" / X BOJ Shifts Policy Focus to Anchoring 2% Inflation After September Rate Hike | MarketScreener Rubio ordered Iranian delegation to leave the country after negotiations stalled Fed's Kashkari says inflation is 'still too high' even after softer-than-expected PCE data China–Taiwan Invasion Timeline | Stephen M. Walker II Russia warns NATO over Kaliningrad nuclear weapons | AnewZ PGIM caps AI-related debt exposure at 15% in CLOs, signaling institutional caution on tech lending Micron (MU) Q4 earnings report 2026 Clash Report on X: "French President Macron: Welcome back, if the British want to return. The British have always been demanding partners, but our bilateral relations have continued on issues such as defense, security, immigration and many strategic matters. I think it would be a good decision, https://t.co/FEtCFs5vhT" / X George Noble on X: "THIS ANTHROPIC IPO IS THE MOST DANGEROUS DEAL I'VE SEEN IN MY 45-YEAR CAREER And its own IPO filing tells you why: The prospectus warns that its AI models could resist being shut down and could hide or manipulate information. If you run security at a big bank, that's the last https://t.co/U0ZSIZljfr" / X

Markets : UK won't rejoin (it's impossible really) but will get closer #GBPCHF hiher, Oil Prices and Treasury Yields are now the most correlated in 36 years (chart), Tesla cuts China prices for the 2nd time in 20 days, 'No need for urgency': New York Fed's Williams squashes notion of an October rate hike, Trump Rejects AI Safety Laws After Meeting Industry Titans, Anthropic IPO prospectus lays bare deep dependence on Big Tech partners, France borrowing costs rise as Vanguard warns of degrading credit >>> quarter-end flows all but done, Sep Fixed Income selloff 'overdone' short-term, USD peaks short-term (USDJPY stays offered), GOLD held $4100 where it should have for the bulls, correlation between crude and Fixed income is at all time highs, it IS the kex to inflation and Bonds, #GBP UK Prime Minister says Britain should consider rejoining the EU (they will look-consider all options, clever way to go about it, get people to give theri say, actually a pretty good speech yesterday, oneof the best TBH Iran Condemns Netanyahu’s UAE Visit, Warns of Consequences - Iranians stagger under soaring costs of seven months of war | Iran's leaders may radiate bullishness, but life is becoming ever tougher for ordinary citizens unable to afford basic necessities or rent ​as a US blockade cuts oil exports Berlin property seizure threat deepens pressure on real estate stocks Top buyer of U.S. debt caught up in Iran sanctions case. Lawmakers raise concerns over Iran's use of USDT to bypass sanctions...can't make this up.. Tether faces Senate probe as Iran-Linked wallets put USDT under scrutiny, shut it down risk, as so heavily linked to Lutnick/Kantor etc '''widely used as a major money transfer tool in Iran’s informal banking sector'''.. shocking really, yet hardly surprising! Polish Prime Minister Donald Tusk: “Poland is facing very difficult weeks and months ahead due to increasing aggressive Russian actions, our security services are doing everything in their power to stop actions expanding to Polish territory.” China tax crackdown tightens pressure on billionaires, can't hide so easily anymore, western billionaires getting worried WSJ: The U.S. Navy and Gulf oil producers have grown more effective at blocking or evading Iranian attacks, letting more tankers move through the Strait of Hormuz. Iran's ability to choke off oil flows, and to use that threat as leverage in talks with Washington, is eroding. The concern is that Tehran turns to military escalation to strengthen its hand Gold getting hit during a full-blown bond crisis is short-term noise. Algorithmic systems auto sell gold on rising yields. They can't distinguish between yields rising on growth optimism versus yields rising on a crisis of confidence Burnham opens door to rejoining EU as he takes aim at Brexit - latest Tether Faces Senate Probe as Iran-Linked Wallets Put USDT Under Scrutiny - Bitcoin Foundation Berlin property seizure threat deepens pressure on real estate stocks Madness.. France borrowing costs rise as Vanguard warns of degrading credit 'No need for urgency': New York Fed's Williams squashes notion of an October rate hike Hedge funds hold a record share of the $30 trillion Treasury market. What could go wrong? Gas: Shell backs $23 billion LNG Canada expansion in boost to Carney EXCLUSIVE: Anthropic IPO prospectus lays bare deep dependence on Big Tech partners | Reuters UK Stock Market News: Saga, Greggs, Future Top buyer of U.S. debt caught up in Iran sanctions case - TheStreet Crypto: Bitcoin and cryptocurrency news, advice, analysis and more Barchart on X: "Oil Prices and Treasury Yields are now the most correlated in 36 years 🚨 🚨 https://t.co/rpZU9F1NSO" / X Mario Nawfal on X: "🇮🇷🇺🇸 Iran's parliament speaker and top negotiator Ghalibaf dared the whole Gulf to keep selling oil without Iran. "Both the Americans and other countries should know that in a region where we don't sell oil, no one will sell oil, and if our security is not ensured, no" / X Swiss Alpine solar farms struggle to deliver on their promise - SWI swissinfo.ch China tax crackdown tightens pressure on billionaires

Markets : Ai leaders meeting trump today, because ?...Anthropic warned of 'existential risks to humanity' in IPO prospectus, so OPENAi followed and scraped new AI model, AND of course.. Nvidia (HAD to come up with something new) share buyback plan gets $150 billion boost >>> AND NASDAQ specs built the largest LONG QQQ futures position since 2017..., US and Iran separately talk with mediators in latest bid to end war | Any further talks are expected to focus on an amended version of a seven-day proposal that Iran presented last week on the sidelines of the United Nations General Assembly, JPN/U.S coordinating on JPY, RBA hiked as expected (AUD softer), GOLD 'must' hold levels aroun dhere on charts >>> USD firm(er) into quarter-end flows as bonds globally get hit (into Q3 end..), risk mixed to softer, watch QQQ positioning !!.. Germany issues EU budget ultimatum. Berlin and five other capitals tell Brussels to axe ‘hundreds of billions’ in planned spending Japan Finance Minister Reaffirms U.S. Coordination on Yen Stability | Finance Minister Satsuki Katayama agreed in a recent call with U.S. Treasury Secretary Scott Bessent to strengthen cooperation in the currency market, saying that “reconfirming this stance at this time holds great significance.” (WSJ) We need a LOT of rain... Water levels in eastern Switzerland fall to record low Sweden faces political deadlock after Andersson gives up attempt to form government Australia’s central bank on Tuesday raised policy rates to 4.6%, the highest level in 15 years, as the country looks to contain inflation stoked by the Middle East conflict Jensen Huang says AI distillation is 'competition.' Scott Bessent has called it 'theft' Anthropic IPO Prospectus Warns of Existential Risks | Trending Topics OpenAI scraps rollout of new AI model over safety concerns Nvidia share buyback plan gets $150 billion boost and Barchart on X: "Speculators have now built the largest long Nasdaq Futures position since 2017 🚨 https://t.co/iynu24E7lw" / X Barchart on X: "Gold $GLD - Make or Break Moment here 🚨 🚨 https://t.co/Z1G7lOIeGW" / X David Zervos will join Scott Bessent's Treasury Department Nvidia's Jensen Huang: AI distillation is competition Australia raises rates to 15-year high as it fights stubborn inflation Germany issues EU budget ultimatum Sweden faces political deadlock after Andersson gives up attempt to form government | Reuters Burnham promises to roll back privatisation with government-backed grid plan | Andy Burnham | The Guardian Julien Bittel, CFA on X: "Jeff Gundlach laid out the Fed's dilemma this week: Hike, and the interest bill on all that short-dated debt balloons. Cut, and inflation reignites. He’s right. But I think it’s the wrong framing, and I haven’t seen anyone unpack this properly yet in response. Here’s my take… https://t.co/FipKapLoN9" / X FWIW.. agree with a lot of it... '''the main issue is OIL, and Warsh told Bessent and Trump about it...'' on to you DC.. Water levels in eastern Switzerland fall to record low - SWI swissinfo.ch Tanner-Crash: Lindt&Sprüngli von Bigboss kollabiert – Inside Paradeplatz Trucking industry hit by 16 Chapter 11 and Chapter 7 filings - TheStreet

Pure Value Metrics is a Global Asset Manager based in Switzerland. We also provide Multi-Family Office Services specializing in Trusts for International investors. Unique Relative Value investing supported by detailed balance sheet analysis Pure Value Metrics Switzerland For Swiss and International Clients, we provide comprehensive tailored asset management and innovative multi-family office services, including trusts. We facilitate multi-generational capital appreciation solutions. 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. Latest Monthly Client Report PVM BITs BLOG Our daily round-up of Global Macro Market Trends and insightful news topics are offered with a free subscription Subscribe Blog Burnham's big EU summit coming up in Nov! #GBP ! / Global bond markets sell-off, credit markets warnings equity world Crude softer=Fixed Income relief 'rally', USD softer, GOLD higher, USDJPY back lower / UK's Burnham open door to EU AI leaders meet Trump, as Anthropic >> OPENAI >> NVDA / JPN-U.S coordinate on JPY / Germany-EU budget ultimatum Media Apperances Please reach out to discuss your requirements Contact us / Visit our office

Relative value asset management for global assets. PVM's Investment Matrix combines balance-sheet analysis with peer comparison to identify entry and exit points. 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 Global Equity Suitable for All Investors Focus Absolute return/low risk Minimum Investment 150k CHF 2025 Performance 2026 Performance (30. Sept) +21% +6.3% Performance since Jan 2016 +109% 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. Sept) + 26% +13.4% Performance since July 2015 +194% 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."