LUTNICK: TRUMP MAY ROLL BACK CANADA, MEXICO TARIFFS TOMORROW
LUTNICK: TARIFFS COMPROMISE ANNOUNCEMENT LIKELY TOMORROW
LUTNICK: TRUMP IS CONSIDERING RELIEF FOR USMCA-COMPLIANT GOODS
LUTNICK: TARIFFS COMPROMISE ANNOUNCEMENT LIKELY TOMORROW
LUTNICK: TRUMP IS CONSIDERING RELIEF FOR USMCA-COMPLIANT GOODS
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*US WEIGHS ONE-MONTH DELAY OF CANADA, MEXICO TARIFFS ON AUTOS
*WHITE HOUSE: WILL GIVE ONE MONTH EXEMPTION ON ANY AUTOS COMING THROUGH USMCA
*Update: Mexico won't have to pay tariffs on USMCA goods until April 2: Trump
UPDATE: US PAUSES TARIFFS ON CANADA, MEXICO USMCA TRADE UNTIL APRIL 2
TRUMP: STEEL AND ALUMINUM TARIFFS WILL NOT BE MODIFIED
TRUMP: NO USMCA EXEMPTION FOR AUTO TARIFFS NEXT MONTH
*WHITE HOUSE: WILL GIVE ONE MONTH EXEMPTION ON ANY AUTOS COMING THROUGH USMCA
*Update: Mexico won't have to pay tariffs on USMCA goods until April 2: Trump
UPDATE: US PAUSES TARIFFS ON CANADA, MEXICO USMCA TRADE UNTIL APRIL 2
TRUMP: STEEL AND ALUMINUM TARIFFS WILL NOT BE MODIFIED
TRUMP: NO USMCA EXEMPTION FOR AUTO TARIFFS NEXT MONTH
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⚠️ BIG EVENTS COMING TODAY:
*U.S. NFP DATA AT 8:30 ET
*TRUMP TO DELIVER REMARKS AT 11
*POWELL SPEAKS AT 12:30
*TRUMP SPEAKS AT 13:30
*TRUMP TO SIGN EXEC ORDERS AT 14:30
*TRUMP TO DELIVER REMARKS AT CRYPTO SUMMIT, 15:00
NFP ESTIMATES:
*MEDIAN: +160K
*JPM/GS: +175k/+170k
*JEFFERIES: +115k
*BBG: +65k
-----------------------------
ICYMI: ⚠️*President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.
*Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings.
*The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional BTC, provided that those strategies have no incremental costs on taxpayers.
*The U.S. will not sell any bitcoin deposited into the Reserve.
*Executive Order Also establishes a U.S. Digital Asset Stockpile, consisting of digital assets other than BTC forfeited in criminal or civil proceedings.
*The government will not acquire additional assets (likely referring to Altcoins not BTC) for the Stockpile beyond those obtained through forfeiture proceedings.
-----------------------------
**SIZE OF RESERVE: Current US BTC balance available for re-purpose into a reserve is max 86k BTC, only 43% of current gov. holdings. that’s because of the ~198k BTC now held by USG, 112k BTC will be returned to bitfinex: Head of Research at Galaxy Research
*U.S. NFP DATA AT 8:30 ET
*TRUMP TO DELIVER REMARKS AT 11
*POWELL SPEAKS AT 12:30
*TRUMP SPEAKS AT 13:30
*TRUMP TO SIGN EXEC ORDERS AT 14:30
*TRUMP TO DELIVER REMARKS AT CRYPTO SUMMIT, 15:00
NFP ESTIMATES:
*MEDIAN: +160K
*JPM/GS: +175k/+170k
*JEFFERIES: +115k
*BBG: +65k
-----------------------------
ICYMI: ⚠️*President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.
*Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings.
*The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional BTC, provided that those strategies have no incremental costs on taxpayers.
*The U.S. will not sell any bitcoin deposited into the Reserve.
*Executive Order Also establishes a U.S. Digital Asset Stockpile, consisting of digital assets other than BTC forfeited in criminal or civil proceedings.
*The government will not acquire additional assets (likely referring to Altcoins not BTC) for the Stockpile beyond those obtained through forfeiture proceedings.
-----------------------------
**SIZE OF RESERVE: Current US BTC balance available for re-purpose into a reserve is max 86k BTC, only 43% of current gov. holdings. that’s because of the ~198k BTC now held by USG, 112k BTC will be returned to bitfinex: Head of Research at Galaxy Research
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infinityhedge pinned «⚠️ BIG EVENTS COMING TODAY: *U.S. NFP DATA AT 8:30 ET *TRUMP TO DELIVER REMARKS AT 11 *POWELL SPEAKS AT 12:30 *TRUMP SPEAKS AT 13:30 *TRUMP TO SIGN EXEC ORDERS AT 14:30 *TRUMP TO DELIVER REMARKS AT CRYPTO SUMMIT, 15:00 NFP ESTIMATES: *MEDIAN: +160K *JPM/GS:…»
U.S. TREASURY SECRETARY BESSENT: NEED TO BRING BITCOIN ONSHORE
BESSENT: WE'LL SEE WHAT THE WAY FORWARD IS FOR ANY BITCOIN ACQUISITION
BESSENT: FIRST THING TO DO IS STOP GOVERNMENT BITCOIN SELLING
BESSENT: BIG PROPONENT ON US TAKING WORLDWIDE LEAD ON CRYPTO
BESSENT: WE'LL SEE WHAT THE WAY FORWARD IS FOR ANY BITCOIN ACQUISITION
BESSENT: FIRST THING TO DO IS STOP GOVERNMENT BITCOIN SELLING
BESSENT: BIG PROPONENT ON US TAKING WORLDWIDE LEAD ON CRYPTO
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infinityhedge
*US JAN. NONFARM PAYROLLS RISE 143K M/M; EST. +175K *US JAN. UNEMPLOYMENT RATE 4.0%; EST. 4.1%
*US FEB. NONFARM PAYROLLS RISE 151K M/M; EST. +160K
*US FEB. UNEMPLOYMENT RATE 4.1%; EST. 4.0%
Revisions:
*December revised up by 16k, from +307k to +323k
*January was revised down by 18k, from +143k to +125k
That means employment in December & January combined is 2k lower than previously reported
Economists expect that the combination of government job layoffs, reduced government funding, uncertainty over tariffs and immigration restrictions will at least temporarily weigh on employment growth in the months ahead: WSJ
*US FEB. UNEMPLOYMENT RATE 4.1%; EST. 4.0%
Revisions:
*December revised up by 16k, from +307k to +323k
*January was revised down by 18k, from +143k to +125k
That means employment in December & January combined is 2k lower than previously reported
Economists expect that the combination of government job layoffs, reduced government funding, uncertainty over tariffs and immigration restrictions will at least temporarily weigh on employment growth in the months ahead: WSJ
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*NVIDIA SHEDS $1 TRILLION IN MARKET VALUE FROM RECORD HIGH
*TESLA SHARES ERASE ELECTION RALLY, DOWN 48% FROM RECORD HIGH
*TESLA SHARES ERASE ELECTION RALLY, DOWN 48% FROM RECORD HIGH
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TRUMP ON CANADA TARIFFS: MAY DO TODAY, OR ON MONDAY OR TUESDAY
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*POWELL: FED DOESN'T NEED TO HURRY, CAN WAIT FOR GREATER CLARITY
*POWELL: UNCERTAINTY AROUND TRUMP ADMINISTRATION POLICIES AND THEIR ECONOMIC EFFECTS REMAINS HIGH
*POWELL: US ECONOMY IS STILL IN GOOD PLACE DESPITE UNCERTAINTY
*POWELL: SOME NEAR-TERM SURVEY AND MARKET MEASURES OF INFLATION EXPECTATIONS HAVE MOVED UP, DRIVEN BY TARIFFS
*POWELL: EXPECT PATH TO 2% INFLATION WILL CONTINUE TO BE BUMPY
*POWELL: ZERO LOWER BOUND IS PROBABLY NOT THE BASE CASE ANYMORE
*POWELL: IF THIS TURNS INTO A SERIES OF ACTIONS, OR IF TARIFFS ARE LARGER, OR EXPECTATIONS START TO MOVE, THAT WOULD INFLUENCE HOW THE FED REACTS
*POWELL: RECENT DATA SHOW POSSIBLE SLOWDOWN IN CONSUMER SPENDING
*POWELL: UNCERTAINTY AROUND TRUMP ADMINISTRATION POLICIES AND THEIR ECONOMIC EFFECTS REMAINS HIGH
*POWELL: US ECONOMY IS STILL IN GOOD PLACE DESPITE UNCERTAINTY
*POWELL: SOME NEAR-TERM SURVEY AND MARKET MEASURES OF INFLATION EXPECTATIONS HAVE MOVED UP, DRIVEN BY TARIFFS
*POWELL: EXPECT PATH TO 2% INFLATION WILL CONTINUE TO BE BUMPY
*POWELL: ZERO LOWER BOUND IS PROBABLY NOT THE BASE CASE ANYMORE
*POWELL: IF THIS TURNS INTO A SERIES OF ACTIONS, OR IF TARIFFS ARE LARGER, OR EXPECTATIONS START TO MOVE, THAT WOULD INFLUENCE HOW THE FED REACTS
*POWELL: RECENT DATA SHOW POSSIBLE SLOWDOWN IN CONSUMER SPENDING
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*Trump Says He Hopes to See Stablecoin Legislation Before August Recess
TRUMP REMARKS ENDED
TRUMP REMARKS ENDED
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infinityhedge
The Week Ahead | @infinityhedge Tue/4: *Trump's address to the joint session of Congress *US Proposed tariffs on China (additional 10%), Canada, Mexico to go into effect; Mexico aims to close a tariff deal by Tue., Bessent urged Canada to Match Mexico’s…
The Week Ahead | @infinityhedge
Mon/10: Chinese tariffs of up to 15% on US agricultural goods take effect
Tue/11:
*US JOLTS Job Openings
*CFTC Commissioner Pham Speaks
*SEC Commissioner Peirce Speaks
*Sen. Lummis to discuss US Bitcoin reserve bill with industry leaders
Wed/12:
*US CPI
*US deadline to impose 25% steel, aluminium tariffs on EU, EU is expected to respond
*Solana’s SIMD-0228 Proposal Voting ends/ epoch 755
Thu/13: US PPI, Unemployment Claims
Fri/14: Deadline for US lawmakers to strike a spending deal that avoids a federal government shutdown
Post will be refreshed w/ new info and Graphics/Articles are in the group⬎
Mon/10: Chinese tariffs of up to 15% on US agricultural goods take effect
Tue/11:
*US JOLTS Job Openings
*CFTC Commissioner Pham Speaks
*SEC Commissioner Peirce Speaks
*Sen. Lummis to discuss US Bitcoin reserve bill with industry leaders
Wed/12:
*US CPI
*US deadline to impose 25% steel, aluminium tariffs on EU, EU is expected to respond
*Solana’s SIMD-0228 Proposal Voting ends/ epoch 755
Thu/13: US PPI, Unemployment Claims
Fri/14: Deadline for US lawmakers to strike a spending deal that avoids a federal government shutdown
Post will be refreshed w/ new info and Graphics/Articles are in the group⬎
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MICROSTRATEGY FILES TO OFFER UP TO $21 BILLION IN PREFERRED STOCK
Offering Details:
Security: 8% Series A Perpetual Strike Preferred Stock (STRK).
Total Offering: Up to $21 billion
Structure: "At-the-market" offering through agents including TD Securities, Barclays, and others.
Use of Proceeds: Acquire Bitcoin and general corporate purposes.
Offering Details:
Security: 8% Series A Perpetual Strike Preferred Stock (STRK).
Total Offering: Up to $21 billion
Structure: "At-the-market" offering through agents including TD Securities, Barclays, and others.
Use of Proceeds: Acquire Bitcoin and general corporate purposes.
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MUSK SAYS X UNDER 'MASSIVE CYBERATTACK'
MUSK: THERE WAS A MASSIVE CYBER ATTACK TO TRY TO BRING DOWN X, IP ADDRESSES IN UKRAINE AREA WERE INVOLVED
MUSK: THERE WAS A MASSIVE CYBER ATTACK TO TRY TO BRING DOWN X, IP ADDRESSES IN UKRAINE AREA WERE INVOLVED
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MARKETS EXTEND FALL 📉
S&P 500 DOWN 3%
NASDAQ DOWN 4.3%
BTC: $78k
ETH: $1.9K
TESLA DOWN 14%
NVIDIA DOWN 5.3%
COINBASE DOWN 15%
MICROSTRATEGY DOWN 17%
VIX > 28
S&P 500 DOWN 3%
NASDAQ DOWN 4.3%
BTC: $78k
ETH: $1.9K
TESLA DOWN 14%
NVIDIA DOWN 5.3%
COINBASE DOWN 15%
MICROSTRATEGY DOWN 17%
VIX > 28
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*TRUMP ORDERS COMMERCE SEC TO DOUBLED TARIFF ON CANADIAN STEEL, ALUMINUM
TRUMP: THE ONLY THING THAT MAKES SENSE IS FOR CANADA TO BECOME OUR CHERISHED FIFTY FIRST STATE.
*ONTARIO PREMIER: ONTARIO, CANADA WILL NOT BACK DOWN UNTIL TRUMP'S TARIFFS ARE GONE
CANADA'S CARNEY: WOULD MAINTAIN TARIFFS ON US UNTIL AMERICANS 'SHOW US RESPECT
*UPDATE: ONTARIO'S FORD SAYS AGREES TO SUSPEND 25% ELECTRICITY SURCHARGE TEMPORARILY
*LATEST UPDATE: TRUMP ON CUTTING CANADA TARIFFS: LOOKING AT IT; LOOKING AT BACKING DOWN ON THE 50% DUTIES ON CANADA; WILL PROBABLY MAKE DIFFERENT TARIFF DECISION; I'LL LET YOU KNOW IF 50% TARIFFS ON CANADA ARE GOING INTO EFFECT
TRUMP ON MARKET: SELLOFF DOESN'T CONCERN ME; I DON'T SEE A RECESSION AT ALL; WE HAVE TO REBUILD OUR COUNTRY
*CANADA PREPARED TO RESPOND FIRMLY IF US IMPOSES STEEL, ALUMINIUM TARIFFS ON MARCH 12; UK WILL NOT IMPOSE RETALIATORY TARIFFS
TRUMP: THE ONLY THING THAT MAKES SENSE IS FOR CANADA TO BECOME OUR CHERISHED FIFTY FIRST STATE.
*ONTARIO PREMIER: ONTARIO, CANADA WILL NOT BACK DOWN UNTIL TRUMP'S TARIFFS ARE GONE
CANADA'S CARNEY: WOULD MAINTAIN TARIFFS ON US UNTIL AMERICANS 'SHOW US RESPECT
*UPDATE: ONTARIO'S FORD SAYS AGREES TO SUSPEND 25% ELECTRICITY SURCHARGE TEMPORARILY
*LATEST UPDATE: TRUMP ON CUTTING CANADA TARIFFS: LOOKING AT IT; LOOKING AT BACKING DOWN ON THE 50% DUTIES ON CANADA; WILL PROBABLY MAKE DIFFERENT TARIFF DECISION; I'LL LET YOU KNOW IF 50% TARIFFS ON CANADA ARE GOING INTO EFFECT
TRUMP ON MARKET: SELLOFF DOESN'T CONCERN ME; I DON'T SEE A RECESSION AT ALL; WE HAVE TO REBUILD OUR COUNTRY
*CANADA PREPARED TO RESPOND FIRMLY IF US IMPOSES STEEL, ALUMINIUM TARIFFS ON MARCH 12; UK WILL NOT IMPOSE RETALIATORY TARIFFS
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infinityhedge
UPDATE: ONTARIO'S FORD SAYS AGREES TO SUSPEND 25% ELECTRICITY SURCHARGE TEMPORARILY
NO 50% STEEL, ALUMINUM TARIFFS ON CANADA
NO EXEMPTIONS ON 25% STEEL, ALUMINUM TARIFFS, TARIFFS BEGINS AT MIDNIGHT MARCH 12 FOR CANADA AND ALL OTHER TRADING PARTNERS: WHITE HOUSE
*CANADA EXPECTED TO RESPOND; EU PLANS COUNTERMEASURES ON US GOODS EXPORTS WORTH UP TO €26B; UK WILL NOT IMPOSE RETALIATORY TARIFFS
NO EXEMPTIONS ON 25% STEEL, ALUMINUM TARIFFS, TARIFFS BEGINS AT MIDNIGHT MARCH 12 FOR CANADA AND ALL OTHER TRADING PARTNERS: WHITE HOUSE
*CANADA EXPECTED TO RESPOND; EU PLANS COUNTERMEASURES ON US GOODS EXPORTS WORTH UP TO €26B; UK WILL NOT IMPOSE RETALIATORY TARIFFS
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infinityhedge
US JAN. CPI in 1hr 50min: Analysts Estimates: *headline: 0.3% vs 0.4% M/M prev. *headline: 2.9% vs 2.9% Y/Y *Core CPI: 0.3% vs 0.2% M/M *Core CPI: 3.1% vs 3.2% Y/Y
US FEB. CPI in 30min:
Analysts Estimates:
*headline: 0.3% vs 0.5% M/M prev.
*headline: 2.9% vs 3.0% Y/Y
*Core CPI: 0.3% vs 0.4% M/M
*Core CPI: 3.2% vs 3.3% Y/Y
*SPX IMPLIED MOVE: +/-1.5%
*Any sign that inflation isn’t cooling as fast as previously thought will ignite more turbulence
Analysts Estimates:
*headline: 0.3% vs 0.5% M/M prev.
*headline: 2.9% vs 3.0% Y/Y
*Core CPI: 0.3% vs 0.4% M/M
*Core CPI: 3.2% vs 3.3% Y/Y
*SPX IMPLIED MOVE: +/-1.5%
*Any sign that inflation isn’t cooling as fast as previously thought will ignite more turbulence
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*US FEB. CONSUMER PRICES RISE 0.2% M/M; EST. +0.3%
FEB. CORE CPI RISES 3.1% Y/Y, EST. +3.2%
*US FEB. CORE CPI RISES 0.2% M/M, EST. +0.3%
*US FEB. CONSUMER PRICES RISE 2.8% Y/Y; EST. +2.9%
FEB. CORE CPI RISES 3.1% Y/Y, EST. +3.2%
*US FEB. CORE CPI RISES 0.2% M/M, EST. +0.3%
*US FEB. CONSUMER PRICES RISE 2.8% Y/Y; EST. +2.9%
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