Foreigners will sell all of US bonds they say...
Source: Bloomberg, Ryan Detrick
So far, this has been the year of precious metals🔥
Performance year-to-date: Platinum +42% Gold +27% Silver +22% Bitcoin +9% The S&P 500 +3% Since the beginning of 2024: Bitcoin +149% Gold +63% Silver +52% Platinum +33% S&P 500 +26% Source: Global Markets Investor
Who would have expected this?
The US bombed Iran over the weekend. Naturally, the SP500 rose 2% on Monday-Tuesday while Crude Oil fell 12% and the hashtag#Volatility Index $VIX crashed 15%. Just as everyone predicted… Source: Charlie Bilello
Germany and Italy are facing calls to move their gold out of New York following President Donald Trump’s repeated attacks on the US Federal Reserve and increasing geopolitical turbulence.
Fabio De Masi, a former Die Linke MEP who joined the leftwing populist BSW party, told the Financial Times that there were “strong arguments” for relocating more gold to Europe or Germany “in turbulent times”. Germany and Italy hold the world’s second- and third-largest national gold reserves after the US, with reserves of 3,352 tonnes and 2,452 tonnes, respectively, according to World Gold Council data. Both rely heavily on the New York Federal Reserve in Manhattan as a custodian, each storing more than a third of their bullion in the US. Between them, the gold stored in the US has a market value of more than $245bn, according to FT calculations. The Taxpayers Association of Europe has sent letters to the finance ministries and central banks of both Germany and Italy, urging policymakers to reconsider their reliance on the Fed as a custodian for their gold. Source: FT
Oil prices fall 5% after Trump says China can continue buying oil from Iran.
“China can now continue to purchase Oil from Iran,” Trump said in a post on his social media platform Truth Social. “Hopefully, they will be purchasing plenty from the U.S., also. It was my Great Honor to make this happen!” Trump threatened in May to ban any country that buys Iranian oil from doing business with the U.S. China purchases the vast majority of Iran’s oil exports. Source: CNBC
Volkswagen unveils robotaxi destined for $UBER
Volkswagen unveiled its white-label robotaxi the people of Los Angeles will be able to hail via $UBER next year. Unlike its tech competitors, VW aims to be a supplier and leave the actual business of managing the fleets to $UBER. Source: Wolf of Harcourt Street @wolfofharcourt
Berkshire Hathaway $BRK.A in danger of falling below its 200-day moving average for the first time since October 2023 🚨🚨🚨
Source: Barchart
Market cap:
Circle: $72 billion Coinbase: $78 billion Coinbase receives 50% of Circle's revenue. Source: Brew Markets @brewmarkets
