Site Search

Donald Trump and Iran’s leader traded barbs, with the US president saying stopping Tehran from obtaining nuclear weapons matters more than the cost of oil. Mojtaba Khamenei vowed to keep the Strait of Hormuz closed . Benjamin Netanyahu said he cannot guarantee regime change in Iran without an internal uprising. (BBG), Trump says he thinks Iran's new supreme leader is alive but 'damaged'. (Reuters), US has further eased Russian sanctions, allowing ALL countries (and not just India) to buy Russian oil already loaded by March 12, WSJ >>> T his is nightmare for fuel price : JPMORGAN: "If the US cannot achieve a short-term victory, it seems likely that it will be forced to attempt a ground war to reopen the Strait of Hormuz. If so, this could transform into a multiyear war" , 'diesel shortages and NatGas shortages in some places already', ..Iran is taking out $1.2 billion US radar systems and hitting targets in Jordan and Bahrain with pinpoint accuracy. Experts admit they are likely receiving direct targeting intelligence from Russia and a massive Chinese electronic warfare vessel off the coast. Markets : Let's face it, the U.S (big techs etc etc) has always depended MASSIVELY on Gulf Nations investing in America (IF this has to stop and/or simply be decreased for food security say, there would be MASSIVE consequences in the U.S for long-term valuations..).... , Private credit fund gates so far this month: Blue Owl → BlackRock → HPS → Cliffwater → Morgan Stanley, Adobe CEO Shantanu Narayen is stepping down after 18 years, Honda slumps to first annual loss since going public in the 1950s (whole sector been in big trouble), VERY expensive war, crude up, shipping costs up, supply chain tightening, bond yields rising (in a huge govt debt pile..), hidden credit stress building in private credit world, western countries facing a rising funding needs competing with a faster EMG world, tough place to be, hard to see this ending without more printing of 'fiat issuance' over time.. >> further rotation going, though much under pressure in eq world, 10's UST yields 4.28% alarm bells.. (the longer it goes on, the worst it gets fiscally in US and many others..), USD 'risk-off bid', could drag us back to 1.10 EURUSD, SPX 6K, again duration of conflict is ALL that matters, Hormuz etc.. The Fed can't cut because of oil. Can't hike because of jobs. Can't do nothing because the curve is screaming (higher inflation & expected fiscal expansion due to oil crisis..), Monetary policy was built for one crisis at a time, we have -3- of them at the same time... US, China officials to meet in Paris on March 15-16, before Trump-Xi summit Deutsche Bank flags a US$30 bil exposure to private credit IMF's former economist warns Governments around world don't have the fiscal capacity needed to respond to any economic downturn caused by an OIL SHOCK (Iran knows...), this is clearly not great, but obvious, watch bonds/duration ... Damn if you do, damn if you don’t: The U.S. and Israel face two bad options when it comes to Iran (Thread) Amazon sold $37bn in debt on Tue, for the 4th largest corporate bond sale of all time And so it starts (they won't be the last..!), Denmark’s Energy Minister urged people to reduce fuel use amid the oil shock from the Iran war, saying: “Please, please, please — if you do not need to drive, do not do so.” U.S. Navy to escort oil tankers through Strait of Hormuz when possible, Bessent says Iran’s leader says Strait of Hormuz should stay closed By Investing.com US eases Russia oil sanctions as Iran war pushes up energy prices Why Gulf security is critical to global security - Atlantic Council Half of Thailand’s fishing fleet may stay in port due to diesel shortage, rising fuel prices US has burned through ‘years’ of munitions since start of Iran war Macro Liquidity by Sunil Reddy on X: "Why would U.S. intervention in oil futures be a “biblical disaster”? Because oil futures aren’t just a casino for traders. They are the pricing engine for the global energy system. Airlines use it to lock fuel costs. Shipping companies hedge diesel. Refiners hedge crude. Oil" / X Not going to happen..unless equity markets have a 'mini collapse' - perhaps Trump demands Powell cut rates as Iran conflict raises energy prices | Fox Business How Does the United States’ Fiscal Position Compare to Other Countries’? Badly.. Honda slumps to first annual loss since going public in the 1950s Deutsche Bank flags a US$30 bil exposure to private credit Danny (Dennis) Citrinowicz ,داني سيترينوفيتش on X: "Damn if you do, damn if you don’t: The U.S. and Israel face two bad options when it comes to Iran. 1. U.S. intelligence reportedly believes the Iranian regime remains stable. That shouldn’t surprise anyone. The Islamic Republic is built on institutions designed to survive" / X President Trump is "enthusiastic" about continuing the war in Iran for at least another 3-4 weeks even as oil prices rebound, per Axios. Details include: 1. Following a G7 call, France's President Macron said "no one can tell what Donald Trump wants from this war" 2. US and Israel have not secured the 450 kilograms of highly enriched uranium that Iran holds 3. US and Israel reportedly "do not entirely agree on what winning looks like" 4. "We don't want to leave early, do we? We gotta finish the job, right," Trump said Charlie Robertson on X: "Actually the most bullish piece I’ve read on why Iran will unblock the Straits of Hormuz when the Israel/US attack ends. They have succeeded in proving they can cause very significant global disruption if Israel and the US attacks again. They now have a credible deterrent" / X Australia to release nearly 20% of fuel stockpile as Bowen insists country ‘nowhere near’ running out | Business | The Guardian Adobe stock drops after CEO Narayen announces he will step down after 18 years Meta Platforms stalls work on Persian Gulf cable project amid Iran war: Bloomberg | Seeking Alpha

Markets : ALL outcome for markets are a function of time !! NO-ONE really knows how long the IRGC allows this to continue... (Trump of course wants-needs it to stop soon..), if it goes on and on, at some point it may go pretty wrong (credit is DEFO stirring the next shoe to drop, offshore USDollars in demand, cross currency basis on the move etc..), Oil tops $100 after 6 ships, including oil tankers are attacked on Gulf shipping, as mentioned, G7 release of crude reserve are quite useless in short-term, in fact it's more psychological than anything else, the war is not even over, he has to create another storm : The 16 US trading partners hit by Trump's '301' probes >>> DID Mr Market think Iran was joking around when they said the strait is and will remain close?......seems Iran is at war with the stock markets, oil prices, consumer inflation etc..not necessarily to inflict casualties...(U.S infrastructure hit VERY hard, 30years of build-up in the Middle-East and much destroyed in 10days... risk is WTI stays $85+ for rest of the year=inflation higher=no cuts=big trouble for anything leveraged on credit (take Salesforce example yesterday, irresponsible madness 'borrow more for share-buybacks').., given all the above, SPX back to 6000 area would not be too shocking...USD stays firm(er).. Read a few of those recently “Our fund’s performance remains strong”, but we can’t meet the redemption requests''...hum JPM-Kalanovic : To hedge against Oil shock and slowdown, one can short crowded AI cyclicals - momentum names that have not been impacted yet (but will be) such as $EWY   $SNDK   $WDC   $MU A "multitude" of intelligence reports provide "consistent analysis that the regime is not in danger" of collapse and "retains control of the Iranian public," said one of the sources #Cliffwater : another... A $33,000,000,000 private credit fund just told investors: "You can't have your money back.".. #credit #liquidity or lack of.. Grundlach : A Private Credit Fund of Funds in 2026 seems to rather closely resemble a CDO-squared in early 2007...yeps.. JP Morgan said it will likely (my interpretation) be demanding more collateral for their loans to Private Credit. That means JP Morgan believes the collateral values are down from the loan origination date Dubai, Abu Dhabi, UAE Updates: UNSC Demands Iran Stop Attacks On Gulf Nations; Saudi Arabia, UAE Intercept Missiles - News18 Pretty insane action, CHINA not happy apparently.. NoLimit on X: "🚨 THE WAR JUST CROSSED ANOTHER LINE: Here’s everything from the last 24 hours. – Iran has laid approximately A DOZEN MINES in the Strait of Hormuz. CNN confirmed it. This is a massive escalation – The US destroyed 16 Iranian minelayers near the strait in response – IRGC" / X ‘Qatar’s shutdown of LNG production at Ras Laffan has taken a third of global helium supply offline, threatening chip manufacturing, Bloomberg Economics said’ Factbox-The 16 US trading partners hit by Trump's '301' probes US launches probe into trading partners including the EU, China and India Trump Taps Strategic Petroleum Reserve in Response to Iran Shipping Attacks | OilPrice.com Market had already anticipated this with the price drop to 85-90 WTI... that is NOT the way to surprise markets and get best outcome/reaction... in fact how Trump does.. is pathetic.. Not winning.. again BIG ! JPMorgan marks down software-linked private credit loans: report Further cracks appearing...!! Trump Touts Oil Supply Moves, Vows to Finish the Job in Iran Ukraine war latest: Russia blames UK for Storm Shadow strike on military plant, threatens 'new level' escalation U.S. Intelligence Says Iran Government Is Not At Risk Of Collapse, Say Sources | HuffPost Latest News $3.7 Billion: Estimated Cost of Epic Fury’s First 100 Hours Cliffwater $33 Billion Private Credit Fund Redemptions Reach 14% Salesforce Eyes Record $25B Debt Sale to Supercharge Buybacks - Forex News by FX Leaders Peter Mandelson’s appointment as ambassador was ‘weirdly rushed’, Starmer aide warned Water takeovers to be referred to UK government for national security screening Interpol jagt Moretti und Audemars Piguet-Erbe – Inside Paradeplatz

Markets :    WATER CRISIS - Dependency on Desalination :  Kuwait: 90%  Israel: 75%  Saudi Arabia: 70%  Qatar: 50%  UAE: 42%  Iran: 2%, Iran is Trump's Vietnam, Kharg Island: Iran’s oil lifeline that Donald Trump has left untouched, Google, Meta, and Oracle are on a $1 trillion borrowing spree >> IRAN regime KNEW they needed an oil shock and thus a market sell-off to get a TACO..eventually...(admitting defeat in reality)..and they got it, pretty early, last night already (NO pain tolerance..).... relief for markets and folks locally....! the war isn't over, though they threw the kitchen sink at each other for 10days, in a VERY destructive way, for all involved...Trump panicked, changed goals, declared victory.. NO clean win whatever anyone says, in fact it's a war Trump can't win and can't end... it's been painful economically, that's for sure >>> The Iranians are most interested in delivering pain as directly to Trump as possible, it's the protracted war that Iran wanted, and the US and Israel are afraid of of it... you could argue it's now a crisis (less fierce in the short-term, but could last longer..), one can fear the goal from new radical Khamenei is to EXPULSE the U.S out of the Middle East.. IRAN WILL NOT accept ceasefire without guarantee another attack won't happen..>>> Crude up and down 30pct (totally nuts..really..), risk rallies again overnight, USD weaker as you would expect, This is really now calling for the end of U.S hegemony, dominance, even PETRODOLLAR's..., shorting USD again is what Mr Market will do... If Iran succeeds in pressing its advantage: “It will destroy the Trump presidency;  it will destroy the GOP for a generation; and it would finally end the entrapment of the United States by its junior geopolitical ally.” While Trump builds military coalitions and bombs the Middle East, China just made its move. Wang Yi announces: zero tariffs on 100% of African imports, effective May 1st JP Morgan on how Operation Epic Fury would end: "Resource risk will begin to outweigh increasingly marginal military gains and the conclusion to the conflict will come down to the three M’s : Munitions, Markets and Midterms ." OpenAI's massive Stargate data center canceled as firm can't reach terms with Oracle, operator struggles with reliability issues — Meta said to be interested in snatching excess capacity Trump Delivers Mixed Messages on the State of the Iran War | TIME Clearly this, G7 and Crude prices.. TACO'ed ..  Trump Advisers Urge Him to Find Iran Exit Ramp, Fearing Political Backlash. The president told reporters on Monday that he thought the war in Iran would be over ‘very soon’. (WSJ) The oil pipelines that could decide the Iran war | The Straits Times Kharg Island: Iran’s oil lifeline that Donald Trump has left untouched Trump says Iran’s new leader is “unacceptable.” China replies: the decision was made according to Iran’s Constitution, not Washington’s approval rating. That’s the real humiliation. Iranian Brigadier General Masoud Akhtari: “Because we destroyed the radars, Trump and Netanyahu are trapped in a slaughter house now in the Middle East. $150 per barrel of oil, which is coming will Cause global economic chaos”.... >>> Trump would like it to be over, the question is what does Iran really want...push all the way, get US out of ME... ? watch out.. Sumitomo Chemical declared force majeure yesterday, making it the fifth Asian chemical company in a single week . First Chandra Asri in Indonesia, then Yeochun NCC in South Korea. By March 5, Petrochemical Corporation of Singapore had declared force majeure on 1.1 million tons of ethylene capacity on Jurong Island. Aster followed a day later with its cracker running at half capacity. The root cause is the same for all five: naphtha, the feedstock these plants break down into the base chemicals behind plastics, rubber, and packaging. Asian steam crackers source most of their naphtha from the Middle East, and virtually all of it transits the Strait of Hormuz. When the Strait closed, all five lost their feedstock within days. Five force majeures in seven days. This is a massive disruption of the chemicals that hold the global economy together. Polymer prices are already up double digits. Everything downstream gets more expensive from here. China’s tariff-free trade offer boosts Africa’s global rise - CAJ News Africa Trump, Putin Talk of War and Peace as US Weighs Easing Russian Oil Sanctions Two Months for Gulf Oil Output to Fully Return After War Ends, Analyst Says Nice recap IMHO Sandeep Manudhane on X: "Iran War Update - - - 1) Trump's presser: Trump has chickened out completely, in just 10 days of Iran's not surrendering & fighting back. Personally, I don't think war is over. Trump tried pushing the responsibility to every adviser, as always. He realizes deep damage, and his" / X Clash Report on X: "Iran's Foreign Minister Abbas Araghchi: They thought that in a matter of two or three days they could go for regime change and achieve a rapid, clean victory, but they failed. So I believe that Plan A was a failure. And now they are trying other plans, but all of them have https://t.co/1KBJBxcpPp " / X War Monitor on X: "Just a reminder that Iran’s new supreme leader Mojtaba Khamenei has lost the following people in this war: - His father: Ayatollah Ali Khamenei (killed in the opening strikes). - His mother: (Mentioned in multiple sources as killed in the same or related strikes). - His wife: https://t.co/TduX5QJ1QW " / X OpenAI's massive Stargate data center canceled as firm can't reach terms with Oracle, operator struggles with reliability issues — Meta said to be interested in snatching excess capacity | Tom's Hardware Google, Meta, and Oracle are on a $1 trillion borrowing spree | Fortune

Pure Value Metrics AG is a Global Equity Asset Manager based in Pfäffikon Switzerland specializing in Trusts Welcome to Pure Value Metrics Pure Value Metrics works with a broad selection of Global clients including, Family Offices / UHNWI, Corporates and Private Investors to offer innovative Multi-Family Offices Services, including Trusts with the Geopolitical Security of the assets in Switzerland, Asset Management and Trading solutions. Relative Value investing anchored by detailed balance sheet analysis PVM is an asset manager 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 ECB's Kasimir : possible hikes, OBR risk to infl / JPM marks down credit portfolio-FT, Cliffwater / #CRM ! / Hormuz key! Trump TACO'ed early..now a war he can't win and can't end? / Crude up & down 25%, risk rallies back, USD softens again AMZN layoffs - AI / Hormuz has to reopen or else.. / Next for USD ?/ G7 meeting today - release of crude reserves at play 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 unqiue relative value based Investment Matrix we build investment portfolio's with superior metrics realative to main stream 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 250k CHF 2025 Performance 2026 Performance (end Feb) +21% +4.0% 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 (end Feb) + 26% +0.6% 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.

discover our full range of Family Offices Services FAMILY OFFICE SERVICES Pure Value Metrics Multi-Family Office Services provide you with a 360° bespoke coverage MANAGEMENT, TRUSTS, LIFESTYLE & SWISS RESIDENCY SOLUTIONS Strategic Advice Assisting the Client in the development of strategies in family governance, succession planning and investment and asset management strategies in relation to the family’s business, investment and lifestyle assets. Managing Third Party Relationships Advising on the selection and appointment of third-party professionals to be engaged in connection with the affairs of the Client, including legal advisers, tax advisers, trustees, custodial banks, insurance specialists and property managers. Swiss Residency Solutions We assist our clients with relocation to Switzerland, if desired, through our network. Trust Solutions PVM coordinates the formation of Swiss-custodied trusts, anchoring both assets and trust oversight within Switzerland. Concurrently, the trust’s legal jurisdiction is strategically selected to optimize the client's specific international requirements* *PVM does not offer tax or legal advice, nor are we liable for any services provided by third parties. PRIVATE BANKING TRADING PVM offers you a professional trading experience; whether you are an active trader or prefer to take a more passive approach to investing; trade online with our partners award-winning platform's safe in the knowledge that PVM is there to support and guide you every step of the way. For an instant simulation and to get a feel for the Platform, click the button below (note: trading not enabled). Simulation For a more detail experience to simulate execution and order fulfilment create a demo profile by clicking the button below. Platform *PVM provides operational support and not financial advice Take advantage of our product expertise and operational support whilst trading on industry leading platforms Why trade with Pure Value Metrics Combining relationship management services with online execution platforms We assist with Client account set up, transfer of assets, execution through a limited power of attorney and tax returns We do not mark-up any fees for these services Be part of something larger - leverage us to achieve your goals Professional Tools Utilise our Partners multi-award winning platforms to enhance your trading experience Take advantage of advanced charting tools, option chains and algorithmic order execution Try 3rd party integrated technical strategies and conditional orders. Wait for the level in EURUSD and execute a straddle in Gold Access a huge array of Asset Classes and over 30,000 individual instruments