MARKETS: Bitcoin Unimpeded, Gold Stampeded

Housekeeping: Good Morning.

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Contents

1. Current Prices

2. Yesterday’s Activity

3. Data Due

4. News

5. Markets/Metals Commentary

6. Market Gameplan

7. Attached: ING Commodities, Gold Block trades

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Bitcoin: will be allowed to rally this time as long as the press doesn’t embrace it and tell people how cool it is and put it in headlines and ETF launchers don’t pummel the airwaves with ads again

On Bitcoin after CPI data selloff, before the re-rally….

The cool thing.. the absolute cool thing is this: Now that BTC regulatory roadblocks are done, and institutions are bid on it.. any dip is purely economic data based hopefully.. and a gift if you are a maxi stacking.

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Yesterday’s Activity:

• Precious Metals- tracked the ”fighting inflation not easing meme”

• Oil- sold off with stocks, then bounced nicely

• US equities- duration suffered most

• Bonds- hurt badly, short end mostly from the rate change expectations

• DX- strong but not as strong as one would think given the move in rates, especially at the short end

• Crypto- BTC has broken free of some serious chains permitting it to behave in accordance with its underlying principles. Without scandal to hold it down, and cheesy marketing to fluff it up and draw attention to it like in 2021, it will do what it is supposed to do.

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Week’s Data:

• MONDAY, FEB. 12 speakers and Monthly U.S. federal budget Jan

• TUESDAY, FEB. 13 8:30 am CPI Day

• WEDNESDAY, FEB. 14 Fed Speakers

• THURSDAY, FEB. 15 Jobless claims, Retail sales

• FRIDAY, FEB. 16 Housing starts, PPI, Consumer sentiment

Full calendar¹

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News:

News Links HERE