Housekeeping: Good Morning.
Watch Taiwan now: Post election, Fisherman, tourists detained, US is playing the provocation game, and while China will not likely not take the bait, it can hurt Xi domestically if he does not talk tougher
Contents
Current Prices
Yesterday’s Activity
Data Due
News
Markets/Metals Commentary
Attached: BOA Miners, ING Commmodities Report
Yesterday’s Activity:
China reopens but US closed
Precious Metals: orderly march continues, Silver rejoins the game
Oil/NG- weaker/ spike of 10c from lower levels is noise
US equities- looking sick yesterday
Bonds-not a factor
DX- weaker
Crypto- strong, scream, puke, bounce
Week’s Data:
MONDAY, FEB. 19 None scheduled, President's Day holiday
TUESDAY, FEB. 20 10:00 am U.S. leading economic indicators Jan. -0.1%WEDNESDAY, FEB. 21 2:00 pm Minutes of Fed's January FOMC meeting
THURSDAY, FEB. 22 Jobless claims, PMI Feb.
FRIDAY, FEB. 23 None scheduled
Full calendar1
News:
Top MSM News Links Here
NOTABLE HEADLINES
US House Republicans are reportedly expecting a government shutdown behind closed doors, according to Axios.
UBS Global Wealth Management now sees the Fed cutting rates from June (vs prev. view of May)
GEOPOLITICS
MIDDLE EAST
US Central Command said Houthis fired two anti-ship ballistic missiles at a Greek-flagged and US-owned bulk carrier bound for Yemen'
"Israeli sources: progress in hostage talks, Israeli delegation will head to Cairo", according to Sky News Arabia
Ukrainian military intelligence chief Budanov said Russia will struggle to keep up the fight and Russians don't have the strength to achieve the goal of seizing two eastern regions this year, according to WSJ.
Taiwan's Defence Ministry denied increasing military deployments on Taiwan's offshore islands and said there is nothing unusual regarding the military situation around Taiwan, but stated that it is making preparations with the coast guard for possible new scenarios near offshore islands, according to Reuters.
China ramps up patrols near Taiwan’s outlying islands following death of Chinese fishermen
Some headlines via NewSquawk
Markets/Metals Commentary (Charts):
New Topic: The Fed should consider further rate increases. That will likely not happen
Yield Compression: The difference between HY and IG corporate bond spreads reflects ongoing confidence in US economic growth.
These are reasons for crowding trades to start. Whether they do happen more or not remains to be seen. But there is growing complacency of smooth sailing headed into the election. No boat rocking by the Fed with the hopes no rough waters between now and November
Gold-
Silver-
Oil
Stocks
BTC/ETH
Bonds
