Siegfried Holding rebounding from a major long-term level
After a 42% consolidation since September 2024, Siegfried is starting to show early signs of a trend change. 🔹 The stock successfully tested a major swing support zone at 56.60–70.35, a technically significant area 🔹 Volume is picking up, confirming renewed interest 🔹 A strong +24% move from the lows signals momentum returning ⚠️ That said, chasing the move here would be risky. After such a sharp rebound, patience is key. 👉 Pullbacks toward former resistance / short-term supports could offer much cleaner entry opportunities. This is a name to keep on the radar, not to rush into. Source: Bloomberg
US government interest payments are now up to an annualized record of $1.47 trillion.
The Sovereignty Trap: By offshoring industry to China for higher margins, the West traded its independence for cheap labor; China now controls the minerals essential for Defense, EVs, and tech. Resource vs. Currency: The ability to print money is irrelevant if China refuses to sell the raw materials required for survival and industry. The Great Rebuild: To regain independence, Western nations are aggressively reshoring industry, stockpiling minerals, and rebuilding infrastructure. The Irony of Tech: Building the "New Economy" (Silicon Valley, AI, Green Tech) is impossible without massive amounts of "Old Economy" materials like copper, lithium, and steel. Source: Topdown charts, LSEG, Lukas Ekwueme @ekwufinance
Average customer account size at Robinhood vs peers
The Sovereignty Trap: By offshoring industry to China for higher margins, the West traded its independence for cheap labor; China now controls the minerals essential for Defense, EVs, and tech. Resource vs. Currency: The ability to print money is irrelevant if China refuses to sell the raw materials required for survival and industry. The Great Rebuild: To regain independence, Western nations are aggressively reshoring industry, stockpiling minerals, and rebuilding infrastructure. The Irony of Tech: Building the "New Economy" (Silicon Valley, AI, Green Tech) is impossible without massive amounts of "Old Economy" materials like copper, lithium, and steel. Source: Topdown charts, LSEG, Lukas Ekwueme @ekwufinance
The commodity supercycle is back
The Sovereignty Trap: By offshoring industry to China for higher margins, the West traded its independence for cheap labor; China now controls the minerals essential for Defense, EVs, and tech. Resource vs. Currency: The ability to print money is irrelevant if China refuses to sell the raw materials required for survival and industry. The Great Rebuild: To regain independence, Western nations are aggressively reshoring industry, stockpiling minerals, and rebuilding infrastructure. The Irony of Tech: Building the "New Economy" (Silicon Valley, AI, Green Tech) is impossible without massive amounts of "Old Economy" materials like copper, lithium, and steel. Source: Topdown charts, LSEG, Lukas Ekwueme @ekwufinance
Gold is flooding out of the US at a record pace
US non-monetary gold exports surged to a record $17.1 BILLION in October. This refers to physical bullion shipped for investment, jewelry, and industrial use, not central bank reserves. This marks an unprecedented spike compared with the typical ~$1–3B monthly range over the last 15 years. The surge reflects soaring demand for hard assets as investors hedge against currency weakness, geopolitical tensions, and trade-policy uncertainty. Truly unprecedented. Source: Global Markets Investor
Long EM. Short US large caps.
Is the Dalio playbook about to break out? Source: Trend Spider
CPI: 2.7% YoY vs. 2.7% expected Core CPI: 2.6% YoY vs. 2.7% expected
Core U.S. consumer prices rose less than predicted in December, reinforcing hopes that inflation is tempering as the Federal Reserve contemplates its next move on interest rates. The consumer price index, a broad measure of the costs for goods and services across the sprawling U.S. economy, posted an increase of 0.3% for the month, putting the headline all-items annual rate at 2.7%. Both were exactly in line with the Dow Jones consensus estimate. At the same time, core inflation, which excludes volatile food and energy prices, showed a 0.2% gain on a monthly basis and 2.6% annually. Both were 0.1 percentage point below expectations. Source: CNBC Peter Tuchman, @EinsteinoWallSt
Speculators Are Positioning For A Fiscally Dominant World
In 2026, the global financial landscape is shifting from central bank independence to Fiscal Dominance, where political spending needs now dictate interest rate policy. To hedge against this, "smart money" is fleeing the US Dollar and Treasury bonds fearing structural inflation and pivoting into hard assets like gold and copper. This trend is confirmed by current Commitment of Traders (COT) data, showing record institutional positioning in precious metals as a final shield against currency debasement. Source: zerohedge, Simon White, Bloomberg macro strategist
