Silver ETFs relative to the broader ETF market are breaking out of a decade-long base.

- 2010 peak : ~1.9%
- 2016 breakout: ~0.5%

To merely return to the prior high, silver ETFs would need to outperform the broader ETF market by roughly ~5x.

That puts the recent price action into perspective.

Even after the sharp rally in silver, investor positioning remains extremely light. ETF ownership is still far below the last peak, suggesting the move so far has been driven more by fundamentals than by capital inflows.

In other words, the price has moved... but the allocation has not.

That is why the upside potential remains substantial.

$MP $UUUU $UAMY $USAR $LAC $CRML | USTR Jamieson Greer confirms the upcoming April Trump-Xi summit will focus on supply chain stability.

The goal is ensuring China honors the Busan deal to export critical rare earths in exchange for maintained tariff concessions and US ag buys.

Monday, Feb 23 2026, 12:00 UTC time

📋 Latest Important Headlines

📌 ✅ U.S. Tariff Turmoil & Market Impact — Supreme Court ruling struck down Trump-era tariffs, creating policy uncertainty; markets react with dollar weakness, U.S. stock futures lower, gold higher, and U.S. 10Y yields easing as investors price persistent trade risk.

📋 🔖 Global Risk Sentiment — Tariff uncertainty dents risk appetite: European equities slip, German/Italian/French sovereign yields fall, Bitcoin drops below $65k, and dollar softness lifts EUR and GBP (EUR > $1.18, GBP > $1.35).

📌 ✅ Asia FX & Equity Moves — JPY gains on dollar weakness; AUD & NZD firm (NZ retail sales surprise stronger in Q4); KRW extends gains; INR/Indian equities rally after court decision but face a new temporary 15% duty headline; offshore CNY rises as China assesses ruling.

📋 🔖 Commodities & Energy — Oil and base metals edge lower amid tariff-driven demand concerns; copper wobbles; gold hits a 3-week high as safe-haven flows rise; U.S. LNG exports strong while Chinese demand softens.

📌 ✅ Central & Market Commentary — Analysts warn U.S. trade policy uncertainty may persist through 2026, prompting front‑loading of Asian shipments and modest shifts in emerging Asian exports; U.S. customs to halt some IEEPA tariffs after the ruling, adjusting duties.

📋 🔖 Regional Data & Macro Notes — New Zealand: Q4 retail sales beat estimates and equities rise; Italy: Jan EU‑harmonised CPI confirmed +1.0% y/y; Switzerland: producer/import deflation strongest in a year; UK: job vacancies ease further.

📌 ✅ Fixed Income Flows — Safe‑haven buying pushes several European and UK 10Y yields lower; AU 10Y heads back toward a 4‑week low; U.S. Treasuries recover but remain vulnerable amid trade policy noise.

📋 🔖 Country Notes — China is making a full assessment of the SCOTUS tariff ruling; Australia stocks slip as tariff fears hit risk assets; India markets/rupee mixed but overall higher after tariff news; Brazil and other EMs see mixed FX flows with rupiah and PHP on firmer footing in Asia.

Quick take: Tariff legal fallout is the dominant macro driver — weaker dollar, safer assets up, risk assets jittery, while regional data (NZ retail) and central‑market commentary keep pockets of pro‑risk moves intact.

The easy copper is gone.

The time from discovery to production keeps stretching:

- 2005-2009: ~12.7 years
- 2020-2023: ~17.9 years

That’s a 40% increase in lead times.

Longer timelines mean:

- Higher capital costs
- More risk
- Slower supply response

The #copper bull market is just getting started

Mexico 🇲🇽 Over time, Mexico has transformed into a global drug hub. Mexican cartels are at the heart of the connections between different cartels. The country is clearly riddled with this threat.

If we go to war with Iran, these are the stocks you will want to keep an eye on:

Defense primes:
$LMT, $RTX, $NOC, $GD, $LHX, $HWM

Drones and autonomous systems:
$ONDS, $AVAV, $KTOS, $RCAT

Oil and shipping:
$USO, $CVX, $FRO, $DHT, $INSW

Safe havens:
$GLD, $IAU, $SLV

Defense ETFs:
$SHLD, $ITA, $PPA, $XAR

Having a plan before the chaos starts is the whole edge.

This might be a catalyst for true #silver price discovery... dont sleep on this story...

This is the future of defense:

> Autonomous drones
> Autonomous subsea
> Autonomous vehicles
> AUTONOMOUS DEFENSE

Anduril, $ONDS, $KRKNF provide design, mechanics, functions, software… the system… the end product.

$OSS provides the hardware (edge AI) making it possible for defense to functions in these harsh environments.

I like them ALL.

$RKLB/USD H2 #Indicator #Signal #Trading #GlobalOneAI

$HOOD/USD H2 #Indicator #Signal #Trading #GlobalOneAI

$OKLO/USD H2 #Indicator #Signal #Trading #GlobalOneAI

⚛️ Uranium Market

Demand rising into 2030–2035.
Mine supply ex-inventory lagging.

2 gaps stand out:

📍 Mid-decade tightening
📍 Larger structural deficit by 2035

Drivers:

• Reactor restarts
• New builds in China & India
• SMR pipeline
• Energy security pivot

Uranium isn’t priced on headlines.

It’s priced on pounds.

And the pounds don’t balance.

#energy #nuclear #uranium

ImmunityBio $IBRX reports a 700% YoY revenue surge to $113M for 2025, driven by a 750% jump in ANKTIVA sales.

With a world first lung cancer approval in Saudi Arabia and expansion to 33 countries, the firm enters 2026 with $242.8M in cash and IP through 2035.