Swiss gold exports to the US in metric tons.

Trump's net approval sunk by 15% in Q1

China Commerce Ministry, on Trump saying ball in China's court: Ministry maintaining normal communication with US counterparts. Urges US to stop threat and blackmail, resolve issues on basis of mutual respect.

🚨NVIDIA Corporation CEO Jensen Huang arrived in Beijing today at the invitation of the China Council for the Promotion of International Trade (CCPIT). This visit comes three months after Huang publicly affirmed NVIDIA's intent to "continue collaborating with China" during his previous trip to the country.

🚨OVHCloud’s CEO: trade tensions are now reshaping how Europe picks cloud providers, not just about tech, but about trust. It’s a sign that global uncertainty is spilling into core infrastructure, which could mean more market volatility and defensive plays ahead. [crypto is an inflation hedge, BTFD!]

Reuters poll: short bets build on China's yuan, Indonesia's rupiah

🚨China preparing to sell 15,000 BTC (valued at $1.2bn) to meet the increasing financing needs of local governments. The Bitcoin was seized during high-profile investigations on international markets.

Time to go long USD?

Nvidia CEO Jensen Huang, in Beijing: China is a very important market for Nvidia and we hope to continue to cooperate with China

In US premarket, Alibaba up over 4%, TSMC up nearly 4%, Q1 net profit beats expectations

UniCredit Investment Institute: US long-dated Treasury yields could rise further if uncertainty around US trade policies persists. The increasing market share of private foreign investors in the Treasury market is a significant factor, as they typically do not follow a buy-and-hold strategy, which could lead to higher volatility

🚨TETHER HAS JUST FROZEN A TOTAL OF APPROXIMATELY 870K USDT ACROSS 3 ADDRESSES, ACCORDING TO MISTTRACK

Jim Bianco: If the hard data [blue] does not turn lower in the next few weeks to month, we will have to start asking if there has been a big misunderstanding about the impact of tariffs on the economy.

Another sentiment indicator shows more bears than bulls enter the market.

Gold used to move in lockstep with real yields (TIPS), reflecting inflation and rate expectations. That relationship has broken down. With gold ripping and real yields flat, is the market pricing in inflation too early or is it overreacting and miscalculating the impact of tariffs?

US stock market underperformance versus stock markets in the rest of the G10 is approaching -10%.

🚨TRUMP: POWELL SHOULD HAVE LOWERED INTEREST RATES, LIKE THE ECB, LONG AGO, BUT HE SHOULD CERTAINLY LOWER THEM NOW

🚨TRUMP: POWELL’S TERMINATION CANNOT COME FAST ENOUGH

UnitedHealth shares fall as much as 20% in premarket trading after the health insurer cut its adjusted earnings per share guidance for the full year.

The SPX has seen negative monthly returns for 39 days straight. In 2016 and 2022, SPX bottomed when monthly returns were negative for 40 days (today)