“Experience is the name everyone gives to their mistakes.” ~Oscar Wilde
Today is officially Ratification Day, the anniversary of the day in 1784 when members of the Confederation Congress ratified the Treaty of Paris that ended the Revolutionary War and formally recognized the independence of the United States from Great Britain.
White House talks between US, Danish, and Greenlandic officials ended Wednesday without agreement, with Denmark’s Foreign Minister Lars Lokke Rasmussen citing “fundamental disagreement” over Trump’s demand for Greenland.
Trump says no strikes after Iran promises no executions.
Trump Tells Reuters No Plans to Remove Powell Despite Probe
(Bbrg)TTrump advisers unable to guarantee him quick regime collapse following any military strike (
NBC News)Trump says Zelensky main obstacle to Ukraine peace deal (
Reuters)Japan PM Takaichi reveals plans to dissolve lower house, details to come next week (
Nikkei)Trump opts against tariffs on critical minerals, orders officials to negotiate adjustment instead (
Reuters,Bloomberg)US officials briefing on Gaza plan: A lot of work to be done before Phase 3 in Gaza
- Trump is personally selecting who will sit on his Gaza Board of Peace, and invitations are being sent out today.
Trump imposes 25% tariffs on imports of certain advanced chips, from
Nvidia’s H200 andAMD‘s MI325X (FT,Bloomberg)BlackRock Total Assets Hit Record $14 Trillion- Now THAT is real $$
Bitcoin down -1% after legislation in Congress his a major roadblock. Senate committee said to postpone meeting on crypto market structure
Sea Change
Is this next?
10year Yield continues to tread water in a tight range
10y real Yield trending mildly higher but not a concern unless get thru 190-200 bps
Market continues to ignore the relentless rise in commodities prices at its peril
Crude pausing at 200d mva
“The Sign Flip: Japan’s $4 Trillion Correlation Breakdown Is Breaking Every Quant Model on Wall Street”
(Perera)”The Obscure Bank Collapse That Sent Iran Into a Tailspin”
(WSJ)‘Wall Street groups hire traders to wade into prediction markets’
(FT)
Keep an eye on the Treasury market plumbing
