Morning Rundown | Peace Talk is Talk
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Market Rundown
Good Morning. Markets reflecting some renewed hope of peace breaking out in Ukraine. The dollar is down only 10. Bonds are up down. Stocks are up again between 90 and 160 bps. Gold is down $30. Silver is down 45 cents. Crude oil is up $1.00 but well off its highs this morning. Crypto is up, but nothing to write home about. Wheat is down 3%.
UMich data is out today. For now, it makes sense to assume data will only exacerbate or mitigate moves in progress. Policy announcements are different however.
Ukraine peace talks
Quick comment. The press needs you to stay watching.. so it’s either “horrors of war” or “hopes for peace” in all their headlines now. Having seen peace talks in 5 wars and how the press has deteriorated in their handling of each, we offer this advice: Nothing is happening materially until it happens. Words mean shit right now. Trading on the headlines is fine if that is your thing. But the headlines are all click bait.
Cheers
Premium Post:
A lot of interest in yesterday’s analysis of Zoltan’s report. There are a bunch of new members from it. Thank you. So we thought reposting the source document would be helpful for reference. See it at bottom.
Podcast
Guidance
President Joe Biden is set to call on Congress for an end of normal trade relations with Russia, opening the way for increased tariffs on imports, according to people familiar. This would put Russia in the company of countries like Cuba and North Korea. Also in Washington, the Senate passed a full year $1.5 trillion federal funding bill, ending the risk of a government shutdown. The legislation included $13.5 billion in humanitarian and security aid for Ukraine.
Zen Moment
Have a good one
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