Gold overtakes Euro as 2nd most important global reserve asset, ECB says.
The share of gold in total official foreign reserves increased to 20% due to historically high gold prices and purchases. Source: HolgerZ, IMF
Poland continues to buy gold as if there was no tomorrow
Source: Michel A.Arouet, IMF
Market speculation is back with a vengeance...
Leveraged equity fund flows are on track for annual net inflows of $21 BILLION. This is almost in line with the 2022 record. Meanwhile, US leveraged equity ETFs currently hold near a RECORD $100BN in assets under management. Source: BofA, Global Markets Investor
Asian nations have NEVER owned so many US assets:
The 11 largest Asian countries have accumulated $4.7 TRILLION of US stocks and bonds over the last 28 years. Their total investments in the US reached $7.5tn. ➡️ Will they bring the money back home? Source: Global Markets Investor, zerohedge, Bloomberg
Did they give us covid 2.0 ???
Source: Trend Spider
French-Italian 10y spread dropped below 25 bp this morning.
It was 115 bp at the start of last year… En route to zero? Source: Stephane Deo on X, Eleva Capital, Bloomberg
Bullish for the nuclear power sector and uranium producers
Source: Markets & Mayhem
Portugal might bring back enhanced tax incentives, just for Golden Visa investors.
A 20% flat tax on local income. 0% on foreign income. Basically NHR 1.0… but gated behind a Golden Visa. If this passes, will demand explode? Source: Alessandro Palombo, Forbes
