Bloomberg notes gold bulls taper speculative positions as long positioning fall off the 4-year highs despite soaring prices.

🚨IMF just cut a full percentage point off 2025 U.S. growth.

Citigroup chief economist: Tariffs are a stagflationary shock to the US; negative impact of tariffs to be felt mainly in the second half of the year.

The Bloomberg consensus forecast for 2025 US GDP is now sharply declining.

IMF Chief Economist Gourinchas: We can anticipate there will be much lower bilateral trade between the US and China.

Apart from gold, only silver and coffee have posted gains in euros this year (see last column).

In April, Bank of America Global FMS sentiment sunk to 5th lowest level on record

Corporate share buybacks are quickly ramping up starting this week

BTC 90k

Citi's Chief Economist: I don't believe Trump will fire Fed’s Chief Powell. This rubicon will not be crossed.

Today the average number of bulls has dropped to its lowest level since October 2022, while the average number of bears has reached its highest level since that same month

Citigroup's Chief Economist: risk of massive sales of US Treasuries by foreign governments is low since they would also suffer losses

🚨WHITE HOUSE: WE WILL END THE STUDENT DEBT FORGIVENESS PROGRAM APPROVED BY THE BIDEN ADMINISTRATION

Algo positioning in US stocks is the lowest ever. This is often a 'contrarian' (bullish) signal.

🚨Trump has just folded on Powell and China. Not going to fire Powell and China tariffs to come down substantially. [This man is a disgraceful negotiator and a joke.]

5% confirmed to be the line in the sand. Trump's WH comments are the good news to cool down yields. -Bull Case Insider

🚨BTC 93k

Futures all flying on Trump’s walk back.