The Correlation Between Gold Prices and Japanese Bond Yields (2013–2025)
Gold (in organe) and 10-year JGB yields (in blue). Japan was always the endgame Source: www.zerohedge.com
Germany's Merz admits: It was a serious strategic mistake to exit nuclear energy.
Friedrich Merz just plainly admitted: ditching nuclear was "a serious strategic mistake" and Germany's running the world's most expensive energy transition. "At least 3 years ago we had to leave the last remaining nuclear power plants in Germany on the grid so that we at least had the power generation capacities we had at that time. We have taken over something that we now have to correct. But we just don't have enough energy generation capacities." Source: Mario Nawfal on X
All semiconductors stocks say thank you Taiwan Semiconductors TSM
Source: Trend Spider
THE HOUSING MARKET JUST WOKE UP
The U.S. housing market is showing a sharp revival, driven by a 28.5% surge in mortgage activity last week. Triggered in part by President Trump’s plan for Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed bonds, the 30-year fixed rate briefly dipped below 6%, fueling demand. Refinances jumped 40% week-over-week (up 128% vs. last year), while total applications soared as long-idle borrowers finally acted. Economists note this reflects pent-up demand rather than just temporary post-holiday noise, signaling a potential broader market rebound. Is the sub 6% era back for good, or is this a temporary window? Source: CNBC
The Great American Oil Paradox
The U.S. is executing a unique energy “double-play,” exporting massive amounts of light, sweet shale crude while still importing heavy, sour oil to match its legacy refinery infrastructure. This paradox being both a top exporter and importer makes the country the central hinge of the global oil market. Far from a weakness, this interdependence gives the U.S. leverage, allowing it to balance supply and influence prices worldwide as we head into 2026. Source: Jack Prandelli
Believe it or not, investor's positioning on equities is still not over-extended.
Deutsche Bank: "Notably, while investor sentiment has risen meaningfully over the last 6 weeks, positioning in our reading has not yet followed, with discretionary investors are still holding cautiously near neutral (0.09sd, 51st percentile). Systematic strategy positioning though is higher (0.71sd, 82nd percentile)." Source: DB, TME
Bitcoin becomes King in Iran
As Iran’s currency collapses, Bitcoin is shifting from a theoretical hedge to a practical necessity. Hyperinflation in the rial is pushing citizens toward BTC as a store of value, while sanctions have made crypto an effective alternative to the traditional banking system. At the same time, Iran’s extremely cheap energy makes Bitcoin mining highly profitable, sustaining local supply that feeds sanction-bypassing channels. The combination of fiat collapse, sanctions, and energy arbitrage is driving a sharp surge in Bitcoin adoption and pricing relative to the rial. Source: Mario Nawfal
CPI Holds at 2.7% YoY as December Rebound Falls Short of Fears
The headline CPI print rose 0.3% MoM (vs +0.3% MoM exp) driving prices up 2.7% on a YoY basis (vs +2.7% YoY exp). Many expected a December pickup due to the unwinding of distortions from data-collection disruptions during the government shutdown, which amplified seasonal discounting in November. So the headline number is basically below most of “Whisper” numbers. Source: Charlie Bilello
