BTC $86k

Gold trading frenzy erupts in China as tensions with US escalate -Bloomberg

The gold-to-oil ratio is perhaps the cleanest visual summary of the current market psyche: fear and gloom. Gold surges as a hedge against inflation, oil softens on recession fears. The result? A ballooning gold/oil ratio. [BTFD!]

The IEA now forecasts oil demand growth of 730,000 bopd in 2025, down 270,000 from its prior 1 mmbod growth forecast, due to the US trade war

"A level of pessimism that has only occurred a handful of times in the history of the survey." -NY Manufacturing Survey

🚨EU expects us tariffs to remain as talks make little progress.

BTC vs Global M2

Last week was the 4th most volatile week in over 40 years for SPX.

Foxconn sent the highest amount ever of iPhones in a month, worth $1.3 bln from India to the US ahead of Trump tariffs - Customs Data
Apple imported iPhones worth nearly $2 bln from India to the US ahead of Trump tariffs - Customs Data.

The VIX cycle from > 50 to < 30 is on track to trigger today. [A bear killer.]

🚨Trump: China was brutal to our farmers. The USA will protect our farmers [Xi will have to dump more Treasuries]

DAX 1.40% today, rotation keeps going from US stocks.

🚨Jamie Dimon urges US to engage with China

Last week 73% of stocks fell below their lower Bollinger Band, today the % of stocks below their lower bollinger band is zero. Here is SPX's performance every time that happened since 1997.

Fitch Ratings: U.S. corporations remain exposed to retaliation from trade partners, especially China, despite a temporary 90-day tariff pause.

🚨Republicans under President Trump considering a new tax bracket for millionaires. A proposed House measure would set a 40% tax rate for those earning over $1 million annually.

iPhone Fold rumored to cost over $2000 -source

🚨SPANISH FINANCE MINISTER CUERPO: US TREASURY SECRETARY BESSENT SENT A MESSAGE THAT HE WANTS TO MAKE A DEAL WITH THE EU ON TARIFFS

Chinese retail investors are rotating out of property and stocks and into gold

Whales holding 1k-10k BTC rise from 1,944 to 2,014 since March 5, 2025

Trump: I am getting along well with Mexico's Sheinbaum. We want to help Sheinbaum and Mexico on cartels