Excellent comments by German Chancellor Friedrich Merz in Davos today
Europeans have damaged their economies. They must fix it.
Goldman is raising Gold price target to $5,400
"We raise our Dec2026 gold price forecast to $5,400/toz (vs. $4,900 prior) because the key upside risk we have flagged--private sector diversification into gold--has started to realize. We assume private sector diversification buyers, whose purchases hedge global policy risks and have driven the upside surprise to our price forecast, don't liquidate their gold holdings in 2026, effectively lifting the starting point of our price forecast." Source: TME
Gold jumps to $4,900 for the first time in history
Source: Barchart
🇯🇵 For Japanese investors, domestic JGBs are now more attractive than hedged foreign bonds from a yield perspective.
Source: Augur Infinity @AugurInfinity on X
Everyone’s Winning. 63% of S&P 500 stocks are beating the index YTD (from NDR, as of Jan 14).
This is the best market participation since 2001. As of yesterday’s close, this number is now up to 65% the second best in 50 years. *Will the market’s strength continue? Source: Macro Charts @MacroCharts NDR
Institutional investors sold -$9.2 billion in US equities last week, marking the 5th straight week of selling.
They dumped -$8.1 billion in single stocks and $1.1 billion in ETFs, bringing the 4-week average to -$3.5 billion. On the other hand, hedge funds bought for a 5th consecutive week, while retail investors bought for the 2nd straight week. As a result, net selling rose to -$6.3 billion, from -$2.6 billion in the prior week. Source: BofA, Global Markets Investor
Gold is making new highs as a monetary realignment unfolds in real time
One chart says it all china’s Treasury holdings are at 18-year lows, while gold reserves are at all-time highs. Source: Tavi Costa, Bloomberg
Trump says he reached Greenland deal ‘framework’ with NATO, backs off Europe tariffs
President Trump just said: "We have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region" ... "Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st." Dow rallies 750 points. Dollar up. 10-year US Treasury yield down. Silver down. Cryptos up. Source: @realDonaldTrump
