Nobody Special Finance

President Trump is reportedly preparing to issue an executive order to open up 401Ks to Private Assets, something nobody is asking for, except for the people who desperately want to get private assets off their books. Elsewhere the Producer Price Index (PPI) came in below expectations, something of a surprise after yesterday's increase in CPI. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

The Consumer Price Index (CPI) rose in June, roughly in line with expectations. Core inflation came in slightly lower than expected. Meanwhile several big banks have reported earnings this morning showing the tariff-induced volatility drove trading revenue higher while net interest income disappointed. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www....

Silver has broken $39 per ounce and Bitcoin broke above $123K last night as the rally in both assets continues. Meanwhile President Trump announced new tariffs on Mexico and the EU on Saturday which the market has largely ignored, continuing to position for the "TACO" trade. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodyS...

Front month silver contracts broke above $38 last night and Bitcoin rallied to a new all time high above $118,000. What on earth is happening? Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the Channel by Buying Me a Coffee ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

The Pentagon announced this morning a $400M investment in MP Materials, the United States only producer of rare earth magnets. Rare Earths have been a major point of contention in the trade war between the US and China and they are a critical commodity for the US Military. Elsewhere, President Trump surprised the market yesterday when he slapped 50% tariffs on Brazil, a country the US has a trade...

US Copper Futures spiked yesterday when President Trump announced his plan to implement 50% tariffs on Copper imported into the United States. At the same time Copper prices in London were sent lower as traders attempting to front-run the tariffs sent metal draining into the US. Elsewhere spending in early hours of Amazon Prime Day were down substantially vs last year as struggling consumers and t...

Long term treasuries and bonds are selling off in the US, UK, and Japan this morning as investors worry about an expected surge of new-issuance. In other words run away government spending and borrowing is starting to wreak havoc in bond markets. Elsewhere President Trumps tariff salvo was fired yesterday when letters went out to trading partners detailing tariff rates that resembled "Liberat...

President Trump has threatened to implement a new, additional tariff on countries aligning themselves with "anti-American BRICS policies." This news comes as letters are supposedly going out starting a noon today informing countries of what their tariff rates will be effective August 1st. Elsewhere, Elon Musk has launched "The America Party" following the passage of the Big Bea...

The US economy added 147K jobs in the month of June, considerably more than analysts were expecting. With an unemployment rate ticking down slightly, expectations for monetary policy are now shifting suddenly. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the Channel b...

The ADP private payrolls number surprised this morning with a loss of 33 thousand jobs when the market was expecting a gain of 100K. This has traders worried about tomorrow's more important Non-Farm Payrolls number. Elsewhere borrowing costs in the UK have suddenly spiked in a manner eerily reminiscent of the Gilt Crisis in 2022 that resulted in Prime Minister Liz Truss resigning. Support the...

US auto sales hit their lowest level in 12 months as the surge of buying driven by fears of auto tariffs gave way to a general lack of affordability according to JD Power. This news is accompanied by several adjacent headlines this morning showing stress in the auto industry and even a renewed feud between Elon Musk and President Trump taking a chunk out of Tesla shares premarket. Support the Chan...

Shares of US tech giants are rallying this morning after Canada announced plans to suspend payments on the Digital Services Tax, which was a point of contention in trade negotiations between the US and Canada. Elsewhere, Chinese home sales are down double digits vs a year ago once again as the years-long real estate crisis continues to weigh on the Chinese economy. Support the Channel on Patreon:...

The US and China have formally agreed to terms from the trade talks held in Geneva earlier this month which should result in a de-escalation in the trade war that erupted in April. Elsewhere PCE data released this morning is showing prices continue to rise more than expected with personal income unexpectedly dropping. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https:...

The DXY has fallen below 98 to it's lowest level since early 2022, before the Fed began it's quantitative tightening campaign. President Trump is now teasing an early announcement of a replacement for Federal Reserve Chair Jerome Powell, who's term ends in May of next year. Such an early announcement would undermine Powell to a certain extent and cause a dovish shift in expectations fo...

The S&P500 is within just a few points of it's all time high this morning despite Fedex reminding us that there is still a trade war going on. Meanwhile it appears San Francisco might soon be holding NYC's Beer as a Socialist just won the Democratic Primary for Mayor. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

The price of oil fell sharply yesterday afternoon following a symbolic Iranian retaliation for the US bombing of it's nuclear facilities that signaled there would be no further escalation in the conflict. Shortly after that, a ceasefire was declared between all parties involved. But the peace is already hanging by a thread just hours after the ceasefire took effect. Support the Channel on Patr...

Stocks are flat and even up a bit this morning following the high profile US bombing of Iranian nuclear sites over the weekend. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the Channel by Buying Me a Coffee ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.buymeacoffee.com/nobodys...

Gold and silver are selling off this morning, with silver seeing particularly strong selling. Meanwhile the US national debt has topped $37 trillion, surprising no one, and elected officials continue to sabotage the nations finances without relent. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

The Federal Reserve is widely expected to do nothing this afternoon, but markets are looking for clues as to the central banks plans for later this year. Meanwhile Congress and bank regulators are both trying to pump bond market liquidity via other means such as the SLR and stablecoin legislation. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySp...

Oil traders were spooked last night when reports of several ships burning in The Strait of Hormuz were circulating, raising fears of further economic escalation in the Israeli/Iranian war. Meanwhile solar stocks are getting hammered this morning after the Senate version of the Big Beautiful Bill was released last night showing subsidies for Wind and Solar, passed under the Inflation Reduction Act,...

Despite a weekend of intense airstrikes and missile barrages exchanged between Israel and Iran, stocks are higher this morning and oil prices are down. So why is the market yawning in the face of the worst middle east violence in years? Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the Chan...

Last night the Israeli military conducted hundreds of strikes on military and nuclear targets deep inside Iran in an attack that will be studied and debated by military academics for years. Details are still coming in but initial reports suggest this was an entirely one-sided event, for now. As the world reacts and markets adjust to this new reality, the ball is now in Iran's court. Support th...

A Boeing 787 has crashed in India shortly after takeoff, sadly with significant loss of life. Details are scarce at the moment and the cause is undetermined, but that didn't stop Boeing shares from selling off. Elsewhere US continuing jobless claimed spiked last week to a new cycle high, throwing cold water on that "strong jobs report" from last week. Support the Channel on Patreon:...

The Consumer Price Index (CPI) came in slightly lower than expected this morning sending stocks higher and the dollar lower. Meanwhile the US and China have supposedly reached a deal in London that is subject to approval by Presidents Trump and Xi. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support th...

The unemployment rate in the UK rose last month as the payrolls shrank by over 100 thousand jobs. The country's job market has been stressed by the combination of tax hikes, an increase in the minimum wage, and tariffs. Elsewhere, Apple's big announcement of "Liquid Glass" left investors and techies alike yawning yesterday as the company continues struggling to innovate. Support...