Housekeeping: Good Morning. Sunday GoldFix will host Michael Oliver to discuss Silver, Gold, Stocks, Bonds, and the current events with a live Q&A.
“The Gold reset is a process, not an event”
Today
Discussion: The Wildebeest are Back
Premium: Metals CTA discussion- Starts 19:10
Discussion: The Wildebeest are Back
Yesterday Trump stirred the pot early with clarification on his tariffs comments from yesterday which - he explained - were in no way dovish. That sent the Peso, the Loonie, the Yuan, and the Euro reeling... which hit stocks and hit the metals as correlations became front and center in financial markets
From: Morgan Stanley Warns Selling Panic Triggers CTA Liquidations | ZeroHedge
They noted with the S&P falling below the 50DMA (and 100DMA since), but more importantly, the short-term CTA trigger level of 6045, trend-following CTAs - which were max long stocks - would start selling.
What do Equities have to do with metals? Plenty. Video describes the parallel
CTA Long exposure to Commodities has been almost entirely in Metals…
US equities declined on Thursday after President Trump said tariffs on Canada and Mexico would go through. Large caps and small caps retreated: S&P 500 (-1.59%) vs. Russell 2000 (-1.59%). MSCI Emerging Markets (EEM) and MSCI EAFE (EFA) fell 1.95% and 1.13% respectively.
Market News:
“The U.S. plans next week to impose an additional 10% tariff on imports from China over its role in the fentanyl trade and move forward with 25% tariffs on products from Canada and Mexico, President Trump said Thursday, setting up a pivotal week for his protectionist trade agenda. The China move, slated to take effect Tuesday along with the Canada and Mexico actions, doubles up on the previous 10% additional tariff Trump placed on Chinese products this month.” Source: WSJ
“High mortgage rates and elevated home prices combined to crush home sales in January. CNBC
For the first time in history, MLB is allowing players in spring training to air their grievances about balls and strikes to the most neutral of arbiters: a computer. After auditioning the technology in the minors for the past few years, MLB is using the exhibition slate as a testing ground to find out if the new system is ready for prime time. If the experiment is successful, it could appear in the regular season as soon as 2026. Those who have already seen the robo-umps in action say that players are about to find out they don’t know the strike zone nearly as well as they think they do.” Source: WSJ
Geopolitics/ Politics:
Israeli army storms the West Bank city of Nablus, via Sky news Arabia citing Palestinian News Agency
via Newssquawk
Data on Deck: GDP, PCE
MONDAY, FEB. 24 None scheduled
TUESDAY, FEB. 25 S&P Case-Shiller home price index (20 cities)
