The U.S. Treasury Department disclosed a significant cybersecurity breach attributed to a Chinese state-sponsored actor. The intrusion, described as a "major cybersecurity incident," involved a third-party software service provider, BeyondTrust Inc., according to a letter sent to Congress and reviewed by Bloomberg News.
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Retail Gold, Silver, and Copper Positioning Says We’re Not There Yet
BOA: CTAs entering 2025 stretched long USD, short bonds, long US large cap equities There are stretched long USD positioning followed by bond shorts. Equity longs in the US remain intact but are not stretched entering 2025 as equity vol is elevated and as well equity price trend is not fully long.
US equities retreated on Monday, but the S&P 500 and Nasdaq Comp ended the year up 23.8% and 29.1% respectively. Large caps lagged small caps: S&P 500 (-1.07%) vs. Russell 2000 (-0.75%). MSCI Emerging Markets (EEM) and MSCI EAFE (EFA) dropped 0.80% and 0.66% respectively.
Market News:
The U.S. Treasury Department disclosed a significant cybersecurity breach attributed to a Chinese state-sponsored actor. The intrusion, described as a "major cybersecurity incident," involved a third-party software service provider, BeyondTrust Inc., according to a letter sent to Congress and reviewed by Bloomberg News. GoldFix News
"Accident investigators are trying to figure out what caused a Jeju Air flight to belly land without its landing gear down at Muan International Airport in southwestern South Korea, killing all but two of the 181 people on board as it burst into flames in the nation’s worst air disaster in decades. South Korea’s acting president, Choi Sang-mok, ordered an emergency inspection of the country’s Boeing 737-800s, the type of plane used on the fatal Jeju Air Flight 7C2216. The Boeing 737-800 is one of the world’s most commonly used airplanes, and it has a strong safety record. : CNBC
"Natural gas futures prices surged Monday, hitting a new 52-week high following reports of a colder-than-usual temperature outlook for January. Natural gas February futures rose around 15% during the session after an updated outlook by The Weather Co. and Atmospheric G2 released Sunday showed that the temperature forecast for next month is expected to be colder than average in the East, specifically from Florida to Maine as well as certain parts of the Great Lakes."CNBC
"Investors plowed more than $1 trillion into U.S.-based exchange-traded funds in 2024, shattering the previous record set three years ago and raising Wall Street hopes for an even bigger year ahead.WSJ
Geopolitics/ Politics
Data on Deck:
MONDAY, DEC. 30 Pending home sales
TUESDAY, DEC. 31 Case-Shiller home price index (20 cities)
WEDNESDAY, JAN. 1 New Year's holiday
THURSDAY, JAN. 2 Initial jobless claims, Construction spending
