Bessent: Expect Q1 GDP data to be revised upwards [he is not wrong, Q1 GDP was skewed by high imports in anticipation of tariffs]

GDP=C+I+G+(X−M), C is Consumption, I is Investment, G is Government Spending, X is Exports, and M is Imports, imports (M) are subtracted. High imports, lower nominal GDP, macro FUD. BTFD and ignore macro FUD. @bullcase

🚨Bessent: US government will never default, we will raise debt ceiling. Expects tax collections to be robust going forward, AI to enhance collections [tax dodgers in disbelief]

Bessent: We are trying to control absolute level of debt and grow GDP, agrees with Yellen that debt-to-GDP ratio is what matters. A central bank digital currency is 'sign of weakness', would not be in favor of Fed issuing digital currency.

🚨Trump: I'm looking forward to meeting Canada's new PM Carney. My only question why is America subsidizing Canada by $200 Billion Dollars a year, in addition to giving them FREE Military Protection, and many other things?

Trump: We will have a very big announcement before Middle East trip. Really positive announcement Thursday, Friday, or Monday before we leave.

🚨Trump: We will possibly start to renegotiate USMCA.

US EIA expects OPEC+ production to remain below current target path, even as group raises output somewhat in coming months.

Trump: We'll be friends with Canada. I've respect for Canadians

Trump: US-Canada border is an artificial line.

Mexican peso, CAD rise on Trump trade, USMCA remarks.

In response to Carney saying Canada is not for sale, Trump says time will tell.

Trump: China wants to negotiate and we will meet at the right time.

🚨Spot gold again above $3400, up 2% on the day

🚨Trump: By not trading with China, we're losing nothing.

Trump: Announcement over next few days not necessarily on trade. [TRUMP coin?]

Trump: China's economy suffering from a lack of US trade. Chinese ships are turning back in the Pacific Ocean.

Trump on trade deals: We're not chaotic, we're flexible. [strategic uncertainty]

Trump: We don't have to sign trade deals.

🚨Trump: India has agreed to drop tariffs to nothing.

Trump: Houthis said, 'Please don't bomb us and we won't attack your ships.