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Founders: Quick Addendum to the DB report

Founders: Quick Addendum to the DB report

Three important things stand out in our reading of this

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VBL
May 19, 2025
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Founders: Quick Addendum to the DB report
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Three important things stand out in our reading of this:

  1. They imply China’s controlling price more as Comex footprint shrinks

  2. China’s ETF buying has been massive, but their pukes/liquidations have been less cyclically speaking.. sticky buying, less fomo.

  3. China’s SFE/COMEX premium spread this time has remained sticky despite a tendency to disappear after C…

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