Podcasts about jgbs

Iran's regime survived, got $300B, and we reopened what we closed. Adam Schiff wants to steal Musk's trillion. Japan is about to blow.This episode is sponsored by Zapier. Get started for free at https://zapier.com/goldThe Iran MOU is being celebrated as a great victory, but Peter Schiff argues it achieved nothing more than returning to pre-war conditions: no fighting and the Strait of Hormuz open — both of which were true before the war started. Iran's regime survived, got immediate sanctions relief, access to a $300 billion investment fund, and frozen assets returned. The only concession is a promise not to develop nuclear weapons — the same promise they were making before the war that Trump said wasn't good enough.Schiff dismantles Adam Schiff's viral video calling for confiscation of Elon Musk's trillion-dollar wealth, showing that dumping that much stock would crash the price to a fraction of its value, destroy two companies, eliminate the incentive for future entrepreneurs, and give each household a one-time $7,500 check they'd spend in a week — the communist promise that has failed every time it's been tried. California's billionaire wealth tax made the ballot, threatening a 5% annual levy that would trigger a mass exodus. Meanwhile, Japan's debt crisis is accelerating with the yen breaking down past 160, 10-year JGBs at 2.65%, and a debt-to-GDP ratio of 250% — at 4% interest rates, two-thirds of Japanese tax revenue would go to interest alone. Schiff calls it a preview of America's future.Chapters:00:00 Crisis Without a Plan00:48 Father's Day Intro02:21 Iran MOU Reality Check09:40 Who Really Wins the Deal17:10 Wealth Inequality and Billionaire Taxes31:16 Why Capital Matters32:29 Panama Wealth Conference33:47 Schiff vs Billionaires35:00 Confiscation Fallout42:43 Japan Yen Crisis50:58 Gold Fed Reality Check54:23 Accountability and Wrap UpFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffOur Sponsors:* Check out Chilipad and use my code sleep.me/GOLD for a great deal: https://sleep.me* Check out DBJourney and use my code Schiff15 for a great deal: https://dbjourney.com* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy

The BoJ hiked rates to 1.00%, as expected, while the RBA left rates unchanged at 4.35% following three consecutive 25bp rate hikes. Qatar is to restore half of its LNG output a month after the Strait of Hormuz opens, with output to reach 80% of full output within two months.US equity futures are mixed, while SPCX (+10.2% pre-market) looks set to surpass AMZN's market cap.DXY softer amid pressure in energy prices; JPY and AUD flat following rate announcements.Fixed income benchmarks are broadly higher, while JGBs fell as the BoJ paused purchase tapering from FY27.Looking ahead, highlights include US ADP Weekly, Import/Export Prices (May), Housing Starts (May), Atlanta Fed GDP (Q2), Speakers including ECB's Lane, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump told ABC News he thinks he will have an agreement with Iran to extend the ceasefire and reopen the Strait of Hormuz over the next week.US equity futures lack direction just shy of ATHs, while European bourses reverse Monday's losses. Global benchmarks benefit from lower energy prices, JGBs outperform following a solid 10yr auction.DXY muted, EUR directionless as EZ CPI surpasses 3%. Crude (Brent -1.4%) falls over renewed hopes of an Iran resolution.Looking ahead, highlights include US JOLTs Job Openings (Apr), RCM/TIPP Economic Optimism, New Zealand Export/Import Prices (Q1), NBP Policy Announcement (Jun). Speakers include Fed's Hammack, BoE's Bailey & Greene, ECB's Vujcic. Earnings from Dollar General, Palo Alto & ULTA Beauty.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The conclusion of our two-part episode from Morgan Stanley and MUFG's Japan Summit looks at structural shifts in Japan's economy and Prime Minister Sanae Takaichi's strategic growth agenda.Read more insights from Morgan Stanley.----- Transcript -----Seth Carpenter: Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research. This is Part 2 of our podcast from the Japan Summit.It's Friday, May 22nd at 8 am in Tokyo.I might stick with equities for just a minute, and Sho, just to dig deeper into the equity market. Jonathan expressed some of the bullishness. Anything you want to elaborate on where the real strong conviction on this positive view about Japanese equities is coming from?And then just as a warning, I'm going to come back to you and ask, if you're wrong, where could you be wrong? Because again, I think where we add value most to clients is not just giving a clear view, but also pressure testing that view.Sho Nakazawa: Our constructive view on Japan equities comes down to one simple point. Three structural changes are still continuing. So, the first is shifting macro environment. The combination of stable inflation and wage growth is a kind of phenomenon we have not seen, at least in my lifetime. It changes corporates and households' behavior, especially in terms of balance sheet management.And then secondly, the corporates profit improvements. We do not see it as a cyclical recovery. We see it as a structural change. As in the past, Japan corporates heavily relied on cost-cutting amid a deflationary environment. But today, price pass-through is improving, and the Japan corporates are becoming better positioned in growth profit in nominal growth environment.The third is corporate governance reform. Awareness of the capital efficiency has clearly increased. We continue to see share buybacks, dividends increase, and a portfolio restructuring as well. And on top of that, the Takaichi administration has made growth investment and crisis management investment as well.Of course, the Middle East situation is a source of noise. But structurally is a supporting factor for Japan equities secular bear market, which is a view Jonathan has held for very long time, has actually becoming stronger.But let me say that if I'm wrong, maybe I should be more bullish. In fact, the two key drivers here, if we assess the bear case scenario on Japan equities…So, one key driver should be the upside come from the investors constructive view on the Japan fiscal efficiency. And on a micro level, the corporate behavior changing faster than market expects. If we assess the recent rise in long-term yields, it reflect the concern to the Japan fiscal position and that BoJ behind the curve.It would weigh on the Japan equity valuation because it raises cost of capital and it weighs on the Japan equity valuation. But on the other hand, [the] Japanese government will disclose its basic policy in June. And if it could include a credible plan to improve Japan's fiscal positions, perhaps under Japan version of DOGE, which is led by Financial Minister Katayama-san, I think it could alleviate the excessive concern toward the Japan's fiscal position, and it [could] lower the cost of capital on Japan equities.You know, micro level, the corporates behavior is already changing, as I mentioned. But there's still plenty, you know, space for Japan corporates to utilize non-cash generating assets such as cash and deposit, which is equivalent to 60 percent of GDP. The ratio is far higher than our global peers.So, if Japan corporates move further to capital efficiency or portfolio restructuring or use some excess capital, I think there should be additional room for Japan equity market to re-rate higher.Seth Carpenter: All right. So, if you're wrong, it's insufficient bullishness. That's a great place to be.So, so Koichi, Jonathan and Sho are bullish on equities. And so, do you expect big shift in capital flows, and would that drive further appreciation of the currency? How do you think about the global investors' view of Japan? And what it means for capital flows on the one hand, and the value of the currency on the other?Koichi Sugisaki: As for the capital flows, I think under this fresh regime, what's the notable change among the Japanese financials? That they are shifting away from the fixed income product, I mean, like JGBs.Given the current attractive yields, you maybe wonder[ing] why the banking sectors buy the JGBs. But according to the recent disclosures, they have not purchased the JGBs much because their lending activity performed very well. So, as far as their lending activity have performed well, they have no incentive to make money in the securities investment.You know, their lending activity have accelerated thanks to the corporate CapEx investment to improve the productivity amidst the labor shortages in Japan. Once the banking sector starts to see some slowdown or some symptom of the lending activity to slow down, in such a case, they are quickly shifted to the securities investment and the JGB market will change the world.But so far, you know, lending growth [has] accelerated much. You know, the April lending growth is around 6 percent on the year-on-year basis, very strong. So, I think the banking sector still not have a[n] incentive to buy the JGBs.As for the lifers, [the] case is much more serious, I think. Because of the younger ages shifting towards the equities to defend the asset, particularly under the new NISA scheme [which] was launched in 2024. The younger peoples basically allocate their asset to the equities rather than the saving type of the products.Which means that the lifers are struggling to make, to gather the new monies. And this means that the demand for the long-term JGB to shrink. And the Japan lifers already filled the duration this much by 2023 to prepare for the new regulations starting from this fiscal year. Now, fortunately, they already finished the duration this much, this type of operation by 2023. But the yield [has] gone up from 2024, thanks to the BoJ's normalization.So, under such conditions, they are now struggling to the high market loss on the long-term JGBs. And some of lifers are now facing the impairment loss accounting. That actually [makes] lifers a net seller of the long-term JGBs rather than the buyers.Seth Carpenter: Okay, super helpful. Okay, we focused a lot on near-term developments, the energy shock, first quarter GDP. But we can think about a longer-term growth scenario. And there, I think AI comes in at times. Chetan, you've talked about the near-term super cycle, and I think there's a near-term aggregate demand side to AI, but over the longer term, maybe it's more supply.When I think about where growth is going, though, I also think about shifts in the strategy for policy. So maybe Yamaguchi-san, you can talk to me a bit on your take of Prime Minister Takaichi's policies. What do we think is likely to get announced? When? How do you see it affecting the long-term growth outlook for Japan?Takeshi Yamaguchi: [The] Japanese government publishes growth strategy report and the basic policy on fiscal management or honebuto policy in June every year. But I think this year's, you know, documents will be pretty important because these are the first documents under the Takaichi administration.And these documents will set the direction of economic policy by Takaichi-san, Sanae Takaichi. Or Sanae-nomics. Compared with Abenomics, I think Takaichi-san focuses more on the supply side issues, you know, supply domestic investment. While Abenomics focused more on the exit from deflation, focusing on demand side policy, particularly, you know, monetary easing.In the growth strategy report, the focus will be strategic investment in 17 strategic areas, including AI, especially, you know, AI robotics, semiconductors, defense and space, cybersecurity, and content industry and so on.Another important point of Sanaeconomic system, there's overlap between these strategic investment areas and national securities. The government will also update its defense strategy by the end of this year, and there'll be a increase in the defense budget target. The focus will be a lot on, you know, I think, dual use technologies, and also resilience of supply chains going ahead.Another important point is, I think there will be a change in the budget formation process. I think, under deflation there's effectively cap on non-social security spending. But I think this government will likely allocate budget, you know, for multi-investment. So, I think the budget process will be more flexible. And they put more emphasis on the initial budget rather than the supplementary budget.So, I think, these documents will be pretty important to monitor going ahead. But overall, I think, the government – yes, they do care about the market conditions. They will likely avoid massive, you know, expansion. But I think a slight expansion, especially in the area of strategic investment is likely to happen.Seth Carpenter: Very helpful. Alright, that's the end of the panel. Thank you very much to my colleagues. And this is where I have to shift back into podcast mode to say thank you for listening. And if you enjoy Thoughts on the Market, please share it with a colleague or friend today. Thank you very much, everybody.

US President Trump is reportedly not satisfied with and is unlikely to accept the Iranian proposal; CNN reports that the US and Iran are not as far apart as they seem.BoJ maintained its policy rate as expected, though subject to a hawkish 6-3 vote split, dissenters highlighted upside risks to inflation.APAC pressured after the reporting around Trump, Nikkei 225 underperformed after the BoJ's hawkish-hold.DXY initially contained but then ticked higher, JPY benefited from the BoJ; JGBs gapped lower, but the move retraced, USTs rangebound.Crude supported by the reporting from the Situation Room, metals hit by the risk tone, hawkish action, and USD gains.Looking ahead, highlights include Spanish Retail Sales (Mar), Italian PPI (Mar), US ADP Weekly Employment Change, US House Price Index (Feb), US CB Consumer Confidence (Apr), US Richmond Fed Index (Apr), US Dallas Fed Index (Apr), NBH Policy Announcement (Apr), Speakers include BoJ Governor Ueda and ECB President Lagarde, Supply from the Netherlands, UK and US.Earnings from RobinHood, Bloom Energy, Visa, Booking.com, NXP Semiconductor, UPS, Coca-Cola, Spotify, General Motors, Centene, Airbus, Air Liquide, BP & Barclays.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Brent Johnson, founder and CEO of Santiago Capital and creator of the Dollar Milkshake Theory, joins The Julia La Roche Show in-studio for a wide-ranging conversation on why the world most investors grew up in is over. Johnson argues that power now matters more than economics — that the old framework of spreadsheets and cash flows is no longer sufficient when supply chains, national security, and geopolitical competition determine outcomes. He breaks down the US-China power competition, the implications of the Iran conflict for energy, food prices, and portfolios, and why he remains in US equities despite the consensus rotation into emerging markets. He also updates his Dollar Milkshake Theory, makes a provocative case that what comes after the American Republic is the American Empire, and explains why stablecoins may be the most underappreciated geopolitical tool the US has right now.Links: Twitter/X: https://x.com/SantiagoAuFundYouTube: https://www.youtube.com/@milkshakespodSubstack: https://research.santiagocapital.com/0:00 Intro & welcome Brent Johnson1:05 Current macro picture: the world has changed & power matters more than economics4:37 Signposts reinforcing the thesis — Trump as symptom, not cause5:42 What the paradigm shift means for investors — the law of one price is gone8:25 The high angst/low drawdown paradox — markets only down 10% but everyone's acting like it's 30%9:43 Conviction vs. confliction — investing for what will happen vs. what you want to happen13:23 Iran: thinking through the probabilities without the certainty16:27 The US is still the most powerful country in the world — what that means for portfolios18:01 Portfolio implications of the Iran scenarios — energy, food prices, the Strait of Hormuz21:23 It's all about US-China — the prisoner exchange and the technology race29:16 Where Brent is putting money right now — capital preservation, cash, gold, US equities31:12 Why he's NOT rotating into emerging markets — the four scenarios framework34:09 The Dollar Milkshake Theory explained — and how it's held up in 2025-2639:29 Stablecoins: what Brent got wrong and why they matter more than he thought46:26 CBDCs vs stablecoins — and the coming conflict between the Fed and the Treasury50:05 The Fed: cut, hike or hold? 52:48 Japan: the yen trap, JGBs, and why it matters for everyone54:46 What question nobody asks Brent but should56:33 What keeps him up at night and what makes him optimistic57:44 The Roman Republic vs the Roman Empire — is America heading toward empire not collapse1:01:40 Parting thoughts: find a community of people you trust who disagree with you

Ben Bennett, Head of Investment Strategy, Asia, shares his thoughts on the US Supreme Court's ruling on tariffs, concerns around the future of software firms, and what's behind the dip in long-term Japanese government bond yields.This podcast was recorded on 24 February 2026 and is hosted by Harry Brooks.All data is sourced from LSEG as at 23 February 2026 unless otherwise stated.For professional investors only. Capital at risk. 

US President Trump talked up the economy in his State of the Union Address, saying that the nation is back, bigger, better and stronger than before, while he added that we've seen nothing yet.Regarding tariffs, Trump said the Supreme Court decision on tariffs is very unfortunate but added that tariffs will remain in place and nearly all countries want to keep the trade deals.European bourses firmer as HSBC lifts the banking sector; US equity futures hold onto Anthropic- driven gains. DXY flat, Aussie outpaces peers post CPI while JPY lags in continuation of recent weakness.JGBs underperform on Takaichi's "reflationist" BoJ candidates; USTs await Fed speak & NVDA.Crude prices rangebound; Spot XAU holds above USD 5200/oz. Looking ahead, highlights include Fed's Musalem, Barkin & Schmid. Supply from the US. Earnings from NVIDIA, Salesforce, Snowflake, TJX Companies, Lowe's & Synopsys.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC mostly firmer as China returned, somewhat shrugging off the weak Wall St. finish on AI disruption concerns.DXY marginally firmer, EUR/USD directionless, while USD/JPY edged higher and above 155.00.USTs pulled back from Monday's best, Bunds remained near highs, while JGBs saw choppy action after the long weekend.Crude remained tentative amid ongoing geopolitical uncertainty, XAU faded while copper rallied as China returned.Looking ahead, highlights include US ADP Weekly, House Prices (Dec), Consumer Confidence (Feb), Dallas/Richmond Fed (Feb), Atlanta Fed GDP, NBH Policy Announcement, Speakers including ECB's Lagarde, BoE's Bailey, Lombardelli, Greene, Taylor & Pill, Fed's Goolsbee, Collins, Bostic, Waller, Cook & Barkin, Supply from UK, Italy & US, Earnings from Home Depot & Keurig Dr Pepper.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Derek Halpenny, Head of Research Global Markets EMEA & International Securities speaks to Simon Mayes, Head of FX Sales for the UK and Ireland about the moves of the dollar this week. Derek also outlines elements of PM Takaichi's speech and the implications for the yen and JGBs.

US-Iran talks have gotten underway; the latest is that the nuclear negotiations have entered the stage of discussing technical issues, Al Jazeera reports citing Iranian TV.Iran announced its readiness to reduce uranium enrichment, Al Hadath reports citing Iran's ambassador in Cairo; added "The contradiction of the US statements is proof of its lack of seriousness in the negotiations"European stocks are broadly in the green; Basic Resources weighed on by metals prices; US equity futures lower as US traders return from holiday.JPY gains ground on yield differentials and some haven flows while GBP lags after the UK jobs report; DXY flat. Gilts and JGBs lead; pricing remains in favour of a BoE cut in April, but March has inched higher into Wednesday's CPI post-unemployment/wages; USTs bid alongside global benchmarks.WTI and Brent rangebound with geopols in focus.Looking ahead, highlights include US ADP Weekly, NY Fed (Feb), Canadian CPI (Jan), Japanese Balance of Trade (Jan), US-Iran talks. Speakers include Fed's Barr & Daly. Earnings from Medtronic, Leidos, Palo Alto, Cadence Design Systems, Republic Services, Vulcan Materials, Kenvue.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

In this Friday, February 13 editorial, we are joined by Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of the Marc to Market website. Marc provides a deep dive into a week of market reversals, beginning with the political landscape in Japan and extending to the shifting yield curves across North America and Europe and precious metals volatility. Key Discussion Points The Japanese Election & Yen Squeeze: Marc breaks down the "landslide" victory for the Liberal Democratic Party under Sanae Takaichi and the subsequent massive short-covering rally in the Yen and JGBs that caught the "smart money" off guard. Global Bond Market Rally: Despite strong U.S. jobs data and rumors of China reducing Treasury exposure, yields fell significantly across the US, Canada, and Europe. Marc explains the "buy the rumor, sell the fact" mentality currently driving these markets. Central Bank Divergence: We explore why Australia was the first G10 country to raise rates this year and why the market is now pricing in more aggressive Fed rate cuts than the central bank's own "dot plot" suggests. The Longevity of U.S. Tariffs: Marc discusses the potential for a "softer" global policy heading into the U.S. midterms, the pending Supreme Court ruling on emergency power tariffs, and the declining popularity of trade barriers. The Outlook for Precious Metals: With Gold holding above $5,000 and Silver near $78, Marc analyzes why central bank diversification and industrial demand in electronics continue to provide a solid floor for metals despite recent volatility. Click here to visit Marc's site - Marc To Market - https://www.marctomarket.com/   ---------------------- For more market commentary & interview summaries, subscribe to our Substacks:  The KE Report: https://kereport.substack.com/  Shad's resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned

APAC stocks began the week higher after last Friday's rally on Wall St, where the DJIA topped the 50k level for the first time.The Nikkei 225 also hit a fresh record high after PM Takaichi's landslide election victory and supermajority.China is reportedly urging banks to curb US Treasuries exposure amid market risk, Bloomberg reports, citing sources; guidance does not apply to China's state holdings of US Treasuries.European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.4% after the cash market closed higher by 1.2% on Friday.Highlights include Swiss Consumer Confidence (Jan), Norwegian GDP (Q4), Mexican Inflation (Jan), US Consumer Inflation Expectations (Jan), BoC Market Participants Survey. Speakers include ECB's Lane & Lagarde, Fed's Waller & Bostic, Earnings from Apollo, Becton Dickinson, Loews, On Semiconductor & Cleveland-Cliffs.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

China is reportedly urging banks to curb USTs exposure amid market risk, Bloomberg reports, citing sources; guidance does not apply to China's state holdings of US Treasuries.Japanese PM Takaichi's LDP party won a landslide victory at the snap election on Sunday, securing a super majority; JPY bid, JGBs lower and Nikkei 225 soars.European bourses are broadly firmer, whilst US equity futures move lower; Nikkei 225 soars post-LDP victory.USD hit on China-USTs report, JPY strengthens post-LDP, whilst GBP lags on regional political woes.JGBs set a bearish tone for global fixed income, with USTs also dragged on the China-USTs report; Gilts digest the McSweeney resignation and reports that PM Starmer faces further pressure to resign.WTI and Brent are flat. Precious metals continue to rebound as the PBoC buys gold for a 15th consecutive month.Looking ahead, highlights include US Consumer Inflation Expectations (Jan), BoC Market Participants Survey. Speakers include ECB's Lane & Lagarde, Fed's Waller & Bostic, Earnings from Apollo, Becton Dickinson, Loews, On Semiconductor & Cleveland-Cliffs.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks pressured with several bearish factors weighing, incl. the partial US shutdown, weak Chinese PMIs & NVIDIA's OpenAI investment stalling.DXY rangebound, EUR firmer but below 1.19. USD/JPY initially benefited from Takaichi's remarks, though subsequent clarification unwound this.Fixed benchmarks mixed, JGBs benefit from the latest election polling.Crude benchmarks hit alongside APAC stocks, OPEC+ maintained the pause as expected. Spot gold continued to falter, base peers hit by the Chinese data.Bitcoin hit a trough just below USD 75k before finding a floor.Looking ahead, highlights include Global Final Manufacturing PMIs (Jan), US ISM Manufacturing PMI (Jan), Speakers including BoE's Breeden & Fed's Bostic, Treasury Refunding Announcement, Earnings from Palantir & NXP Semiconductors.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are broadly lower; LVMH (-8%) sinks post-earnings, whilst ASML (+4.9%) gains after the company beat across its headline metrics, provided a rosy outlook, and announced a EUR 12bln share buyback.NQ boosted by ASML & SK Hynix earnings, as well as reports that China is said to have approved the first batch of NVIDIA's (+1.7%) H200 AI chips for import.DXY attempts a recovery to the detriment of G10s; AUD among the better performers post-CPI.USTs slightly softer pre-Fed, Bunds little moved on a robust auction, JGBs bid overnight.Crude benchmarks reverse earlier gains; Spot XAU extends above USD 5,300/oz; Copper regains USD 13k/t.Looking ahead, highlights include Fed Policy Announcement, BoC Policy Announcement, BCB Policy Announcement. Speakers include ECB's Schnabel, BoC's Macklem, Fed Chair Powell. Supply from the US. Earnings from Microsoft, Meta, Tesla, Lam, ServiceNow, IBM, Starbucks & AS.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The macro is pushing another rush into precious metals today. On the mining front, we report the latest news from Meridian's new resource updates, corporate updates from Vizsla Silver, Magna Mining and Fortuna Mining. Drills results are in from Canterra Minerals, Cartier Resources, and Alaska Silver. This episode of Mining Stock Daily is brought to you by... Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠revival-dash-gold.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Vizsla Silver is focused on becoming one of the world's largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 325,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠https://vizslasilvercorp.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠equinoxgold.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Integra Resources is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com

Japan is to reduce its new issuance of super-long JGBs next fiscal year to around JPY 17tln, according to Reuters sources.European equity futures are closed as Eurex observes the Christmas Eve holiday. US equity futures are very modestly lower in thin conditions.DXY is flat, JPY is very mildly stronger continuing recent advances.JGBs soft overnight but have been driven higher in recent trade, USTs flat.Crude benchmarks are incrementally firmer, with spot gold also steady.Looking ahead, highlights include US Jobless Claims (w/e 20 Dec), Supply from the US.Note: The Newsquawk desk will run until 18:05GMT/13:05EST on Wednesday, 24th December. FOMC Minutes on 30th December 2025 will be covered. Normal service will resume at 0700GMT/02:00EST on Friday 2nd of January 2026 for the beginning of the European Session. Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said US will keep ships and oil seized near Venezuela.European bourses are mixed on either side of the unchanged mark, US equity futures are mostly incrementally firmer ahead of US data.DXY is under pressure whilst the JPY continues to strengthen; Antipodeans benefit from strength in metals prices.JGBs lead global fixed income higher after PM Takaichi rejected any "irresponsible bond issuance or tax cuts", via a Nikkei interview.Crude benchmarks trade rangebound, whilst spot gold eyes USD 4.5k/oz to the upside.Looking ahead, highlights include US Richmond Fed (Dec), Durable Goods (Oct), GDP Advance (Oct), PCE Prices (Q3), Industrial Production, Consumer Confidence, Canadian GDP, BoC Minutes (Dec Meeting), Supply from US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US futures edging higher at start of final full trading week of the year. European stocks opened higher and Asian equities are weaker. Treasury yields down 2 bps along curve while JGBs little changed. Dollar is strongest against kiwi after RBNZ governor's comments, while yen firmed against all majors. Crude and gold both higher. Bitcoin strengthening. Europe faces pivotal week as it works on Ukraine peace plans and attempts to reach loan agreement on funding Kyiv's war effort. Ukraine President Zelenskyy reiterated that ceasefire between Ukraine and Russia along current frontlines would be fair, but not Russia's demand for parts of Donetsk and Luhansk that Ukraine still holds. In a bid to reach ceasefire agreement Zelenskyy dropped bid for NATO membership in favor of similar security guarantees from US and European allies.Companies Mentioned: ServiceNow, Intel, SK Telecom

APAC stocks were mostly higher following the positive momentum from Wall Street, where all major indices gained ahead of Thanksgiving celebrations.10yr JGB futures edged higher but with the gains modest after reports that Japan is likely to increase issuances of 2yr and 5yr JGBs.Alibaba shares were pressured after the Pentagon said it should be on the list of firms with Chinese military ties, while China Vanke shares were hit and its bonds slumped.US President Trump told Japan to lower the volume on Taiwan, following a call with Chinese President Xi, according to WSJ.European equity futures indicate an uneventful open with Euro Stoxx 50 futures up flat after the cash market closed with gains of 1.5% on Wednesday.Looking ahead, highlights include German GfK (Dec), EZ M3 (Oct), Consumer Confidence Final (Nov), Japanese Tokyo CPI (Nov), Industrial Profit (Oct) & Retail Sales (Oct), ECB Minutes (Oct), Speakers including BoE's Greene, ECB's Cipollone & de Guindos, Supply from Italy. Holiday: US Thanksgiving Day; Desk will run normal services on Thursday, 27th November until 18:15GMT/13:15EST. At which point, the desk will close and then re-open later at 22:00GMT/17:00EST for the APAC session. Thereafter, there is normal service on Friday, 28th November until 18:15GMT/13:15EST at which point the desk will close.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

China is reportedly mulling new property stimulus measures, including mortgage subsidies, according to Bloomberg sources.European and US equity futures are stronger across the board, with sentiment boosted after strong NVIDIA results and as CEO Huang shrugged off “AI bubble” woes.DXY is firmer into the September NFP report, JPY unreactive to further jawboning.WTI and Brent edge higher, with some strength seen after Russia's Kremlin said no peace talks with the US are taking place; XAU dips a touch.JGBs lag with stimulus in focus, USTs bearish as the data fog continues.Looking ahead, Highlights include, EZ Consumer Confidence Flash (Nov), US NFP (Sep), US Jobless Claims (w/e 15 Nov), New Zealand Trade Balance (Oct), Australian Flash PMIs (Nov), Japanese Nationwide CPI (Oct), SARB Policy Announcement, Fed's Cook, Barr, Hammack, Paulson, Miran, Goolsbee; BoE's Dhingra, Mann. Supply from the US. Earnings from Gap and Walmart.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Trump said the meeting with Xi was amazing & lots of decisions were made, he rated the meeting a 12/10; US-China agree 1-year trade truce.European bourses are broadly lower, US equity futures are mixed; META -8.8%, MSFT -2.3%, GOOGL +6.9% post-earnings.JPY struggles after BoJ kept rates steady and avoided any overt hawkish commentary; Ueda said no pre-set idea about timing of next rate hike. USD manages to hold onto post-FOMC spoils.Global benchmarks (ex-JGBs) remain soft post-FOMC; EGBs pressured into the ECB.XAU returns back above USD 4k/oz following hawkish Fed cut, crude remain rangebound.Looking ahead, Looking ahead, highlights include Japanese Tokyo CPI (Oct) & Unemployment Rate (Sep), (Suspended Releases: US GDP & PCE (Q3), Weekly Claims), Events: ECB Policy Announcement, Comments from ECB President Lagarde, Fed's Logan & Bowman.Earnings from Amazon, Apple, Coinbase, Reddit, MicroStrategy, Cloudflare, Riot Platforms, Eli Lilly, Comcast, Roblox, Mastercard.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Fed cut by 25bps as expected, subject to 50bps and U/C dissent, announced it will end the balance sheet drawdown.Chair Powell struck a hawkish tone around December, weighing on stocks, USTs & XAU while the USD benefited.Trump said the meeting with Xi was amazing & lots of decisions were made, he rated the meeting a 12/10.BoJ held rates, Takata & Tamura dissented, favouring a hike; support seen in JGBs afterwards as the statement avoided any overtly hawkish signal.European futures point to a positive cash open, US futures are gradually rebounding following Powell and the first Mag 7 numbers; GOOGL +7% after-hours, MSFT -3%, META -6%Crude benchmarks faded some of the gains seen after the EIA report, XAU hit by Powell but off lows, base metals followed the risk tone.Looking ahead, highlights include Spanish Flash HICP (Oct), German Unemployment (Sep), Flash GDP (Q3), Prelim. CPI (Oct), EZ Final Consumer Confidence (Oct), Japanese Tokyo CPI (Oct) & Unemployment Rate (Sep), (Suspended Releases: US GDP & PCE (Q3), Weekly Claims), Events: ECB Policy Announcement, Comments from BoJ Governor Ueda, ECB President Lagarde, Fed's Logan & Bowman, Supply from Italy.Earnings from Amazon, Apple, Coinbase, Reddit, MicroStrategy, Cloudflare, Riot Platforms, Eli Lilly, Merck, Comcast, Roblox, Mastercard, Standard Chartered, Shell, Kion, Lufthansa, Volkswagen, Puma & ING.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Democrat and Republican bills to end the US government shutdown failed to secure sufficient votes for passage in the Senate, as expected.Senior Hamas official Mahmoud Al-Mardaw said "President Trump's plan is mainly an Israeli plan", but emphasises that Hamas wants to end the war.European bourses are choppy, trading on either side of the unchanged mark; US equity futures are flat/lower.USD once again on the front foot despite ongoing impasse on Capitol Hill; Kiwi lags awaiting the RBNZ.Bearish trade across global paper, except for JGBs which are marginally firmer following supply.Gold prints fresh ATHs near USD 4,000/oz; crude subdued, eyeing geopolitical updates. On supply, Russian Deputy PM Novak says OPEC+ nations did not discuss increasing quotas by more than 137k BPD in November.Looking ahead, NY Fed SCE, Atlanta Fed GDP, Canadian Trade Balance (Aug), Ivey PMI (Sep), EIA STEO, Speakers including Fed's Bostic, Bowman, Miran, Kashkari, ECB's Lagarde & Nagel, Supply from the US, Earnings from McCormick & Company.Suspended Releases: US International Trade, Consumer Credit.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Japan's ruling LDP elected Sanae Takaichi as its leader, who is set to become Japan's first female PM; Nikkei 225 +4.7%, JPY sinks.European bourses opened modestly lower and then took a hit following French PM Lecornu's decision to resign; CAC 40 -1.6%. US equity futures are modestly firmer across the board.USD has been boosted as JPY ponders looser fiscal/monetary mix and EUR hit by French political risk.10yr JGBs soared then faltered after Takaichi while OATs were sold after Lecornu resigned.Crude benchmarks gain after OPEC+ producers agreed to a modest production increase of 137k bpd in November.Looking ahead, US Employment Trends (Sep), New Zealand NZIER (Q3), Speakers including BoE's Bailey, ECB's Lagarde, Earnings from Constellation Brands.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

BoJ kept rates unchanged at 0.50%, as expected, but surprised markets with the announcement to begin selling ETF and J-REIT holdings.European bourses are mostly higher whilst US equity futures are flat.USD extends its winning streak, GBP underperforms and is pressured by woeful borrowing data, which puts added pressure on UK Chancellor Reeves.USTs are slightly lower awaiting Fed speak, JGBs hit on the BoJ, Gilts lag after concerning borrowing data.Crude is on the backfoot, whilst Spot gold is firmer awaiting the Trump-Xi meeting.Looking ahead, Canadian Retail Sales (Jul), Quad Witching, Trump-Xi phone call. Speakers including Fed's Daly, Miran, & Former Fed President Bullard.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Global equity futures are modestly mixed; Anglo American & Teck merge to create a USD 50bln mining giant.USD is a little lower whilst JPY soars amid hawkish BoJ reports.OAT-Bund 10yr spread a little wider in the aftermath of French PM Bayrou's removal, JGBs hit by BoJ sources.BoJ reportedly sees some chance of hiking this year, despite the political situation, via Bloomberg citing sources; likely to keep rates unchanged on September 19thCrude rebounds and metals non-committal awaiting the next impetus.Looking ahead, US NFP Prelim. Benchmark Revisions, Apple Event, Comments from BoE's Breeden, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Russian Kremlin's Ushakov says Alaska summit will begin at 11:30 local time on Friday (20:30 BST/15:30 EDT)European bourses are modestly firmer, US futures hold around the unchanged mark into PPI.USD sell-off pauses for breath ahead of PPI, Yen rises on Bessent BoJ comments.JGBs lag as Japan reacts to Bessent, USTs await PPI.Crude ekes mild gains as attention turns to Trump/Putin.Looking ahead, US PPI (Jul), Jobless Claims, Speakers include Fed's Barkin. Earnings from Applied Materials.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

I'm excited to share something I've negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER' or filling out the form on the page I've linked below.All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don't miss out!The macro situation is worse this summer compared to last summer, so where's Japan's carry trade? If the July 2024 jobs report provoked a violent financial backlash, you'd think the July 2025 version would have, too. The fact it didn't points to several key developments, important warnings from JPY and JGBs. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDUThis video was sponsored by Glint. Graphic representations of value are for illustrative purposes only. The Glint Debit card is issued by Sutton Bank, Member FDIC. The sale, purchase and storage of precious metals are offered by Glint, and not Sutton Bank. Your investment in precious metals through Glint is:-Not insured by the FDIC.-Not a deposit or other obligation of, or guaranteed by, Sutton Bank.-Subject to investment risks, including the possible risk of loss of the principal amount invested.All investments involve risk, including possible loss of principal. The value of precious metals is affected by many economic factors, including but not limited to the current market price, demand, perceived scarcity, and quality of the precious metal.  Precious metals can increase or decrease in value. Past performance is not a guarantee of future results. As such, investing in precious metals may not be suitable for everyone.Glint Pay Inc. is a U.S. based authorized Card Program Manager, not a bank. Banking services are provided by our partner Sutton Bank, Member FDIC. Glint Pay Inc. employs effective Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and fraud prevention systems and controls to mitigate and combat risks.

BoJ maintained rates as expected, raised growth and inflation outlook. Continued to note uncertainty over trade; Ueda said, no large change to central outlook that growth pace will slow down and underlying inflation stalls.US President Trump announced that South Korea will be subject to a 15% tariff and make USD 350bln in investments in the US.European bourses opened higher but have waned off best levels, NQ outperforms after stunning earnings from META +12% & MSFT +8%.Ongoing USD rally pauses for breath ahead of PCE, JPY pressured after BoJ Governor Ueda.JGBs boosted by Ueda, USTs towards the post-Powell lows into PCE.Crude lacklustre, Gold benefits from haven flows & copper dented by Trump tariff details.Looking ahead, US Challenger Layoffs, PCE (Jun), Jobless Claims, Employment Wages, Chicago PMI, Atlanta Fed GDPNow, Canadian GDP, SARB Policy Announcement.Earnings from Apple, Amazon, Strategy, Coinbase, Reddit, Riot, Cloudflare, Roku, CVS, Roblox, AbbVie, Norwegian Cruise Line, Cigna, Howmet Aerospace, Mastercard & PG&E.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced trade deals with the Philippines, Indonesia and Japan, with the latter involving a USD 550bln investment in the US and 15% tariffs for Japanese goods.Japanese PM Ishiba is likely to announce resignation as early as this month, according to Yomiuri – reports which he later pushed back on.European bourses benefit from the US-Japan trade deal; RTY continues to outperform.USD is flat, Antipodeans are the G10 outperformers whilst the EUR lags a touch; JPY choppy on US-Japan trade deal and reports surrounding PM Ishiba.JGBs slump on trade updates, peers elsewhere lower given the risk tone and into supply.Crude complex choppy awaiting fresh catalysts, XAU takes a breather following recent upside.Looking ahead, US Existing Home Sales, Supply from the US. Earnings from Tesla, Alphabet, ServiceNow, IBM, Chipotle, GE Vernova, Freeport, AT&T, Thermo Fisher Scientific, Lamb Weston, Infosys, Moody's, CME & Hilton.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

White House Press Secretary Leavitt said they could see more tariff letters for August 1st.European bourses are in the red and currently trade at session troughs, US equity futures also incrementally lower.DXY is flat awaiting fresh catalysts, whilst Antipodeans lag given the risk-tone.JGBs react to the election, bonds elsewhere have a bearish bias, Gilts lag.Crude moves in lockstep with risk while base metals remain cushioned.Looking ahead, US Richmond Fed Index, NBH Policy Announcement, Speakers including Fed Chair Powell & Bowman, ECB's Lagarde. Earnings from SAP, Intuitive, Capital One, Baker Hughes, Coca Cola, Lockheed Martin, Philip Morris, RTX, DR Horton, Northrop Gruman, Danaher, MSCI & Pulte.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

S&P 500 and Nasdaq 100 hit record highs, Russell 2000 outperformed for the second consecutive day.Fed's Waller says they should cut by 25bps at the July meeting and thereafter adjust meeting-by-meeting.APAC stocks predominantly higher, China shrugged off a 93.5% tariff on graphite; European futures point to a firmer open.DXY rangebound, EUR/USD reclaimed the 1.16 handle, Antipodeans outperformed after Thursday's AUD pressure.Fixed benchmarks marginally higher, JGBs in-fitting into the weekend's Upper House election.Crude holds onto Thursday's upside, XAU rangebound, base metals post mild gains.Looking ahead, highlights include German Producer Prices, US Building Permits/Housing Starts, UoM prelim, G20 Finance Ministers Meeting, Speakers including ECB's Nagel & German Finance Minister Klingbeil, Earnings from 3M, American Express, Charles Schwab, Atlas Copco, Hexpol, Boliden, Skanska, Telia & Danske Bank.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they are very close to an India deal, could possibly make one with Europe & it is too soon to say re. Canada.US stocks finished higher but with volatile trade amid reports that Trump had drafted a letter to fire Powell; later, Trump denied this.DXY has regained some composure after getting hit on Fed independence concerns, G10s softer with AUD lagging after soft jobs data.USTs ease after Wednesday's upside, JGBs initially followed suit but picked up after the latest JGB liquidity auction.Crude remains afloat, XAU rangebound, base peers lack conviction in contained trade.Highlights include Australian Employment, UK Jobs, EZ HICP (Final), US Trade, Jobless Claims, Retail Sales & Atlanta Fed GDPNow, G20 Finance Ministers Meeting, Speakers including Fed's Kugler, Daly, Cook & Waller, Supply from Spain, France & UK, Earnings from Novartis, Publicis, Volvo, PepsiCo, GE, Abbott Laboratories, Netflix & TSMC.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump offered Iran a two-week window to monitor negotiations before deciding on military action.European stocks benefit from geopolitical optimism whilst US futures are slightly lower.DXY flat, JPY mildly boosted by Y/Y Core CPI beat.Two-way action for JGBs after reports suggest Japan plans to cut FY25 superlong JGB issuance by JPY 3.2tln, Gilts gap higher on retail sales but fade.Crude curtailed by negotiating updates, European risk tone weighs on gold.Looking ahead, US Philly Fed Business Index, Leading Index Change, Canadian Producer Prices & Retail sales, EU Consumer Confidence, Quad witching, Iranian Foreign Minister Araghchi meets with European Ministers, Holidays in Sweden, Finland, New Zealand.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump says he wants "a real end," with Iran "giving up entirely" on nukes”, via CBS's Jacobs.US President Trump says the EU is not yet offering a fair deal, there is a chance of a deal with Japan but they are "tough". Pharma tariffs coming soon.Stocks hit as Iran-Israel strikes continue and Trump posts that "everyone" should evacuate Tehran.FX markets in narrow ranges awaiting US Retail Sales; incremental strength in JPY post-BoJ, but Ueda sparked some weakness thereafter.Two-way action for JGBs; USTs just about firmer while EGBs & Gilts reside in the red.Crude moves higher as Trump cuts his G7 trip short and now awaiting developments from the situation in Iran.Looking ahead, US Export/Import Prices, Retail Sales, Industrial Production, BoC Minutes, G7 Leaders' Summit.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Featured in this podcast are Arindam Sandilya, Ayako Fujita, Takafumi Yamawaki, and Tim West. JPMorgan's Japan macro team discusses the causes of and potential remedies for the ongoing sell-off in long-end JGBs.   This podcast was recorded on Jun 5, 2025. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved.

US President Trump is to meet with German Chancellor Merz at 11:45EDT/16:45BST today.US President Trump said the "debt limit should be entirely scrapped..."; separately, he banned travel from certain nationsAPAC trade was mixed, European futures point to a flat openDXY saw a slight reprieve, EUR/USD took a breather and GBP was rangeboundFixed benchmarks held onto recent gains, JGBs were briefly knocked by the 30yr auctionCrude lacklustre, and unreactive to Trump and Putin holding a conversationLooking ahead, highlights include German Industrial Orders, Swedish CPI, Italian Retail Sales, EZ Producer Prices, US Jobless Claims, Challenger Layoffs, US International Trade, Canadian Trade, ECB Policy Announcement; BoE DMP, Danish Holiday, Speakers including ECB President Lagarde, BoE's Greene, Fed's Kugler, Harker, Schmid & BoC's Kozicki, Supply from Spain & France, Earnings from Broadcom, DocuSign, Wise & CMC Markets.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks mostly higher following the Wall St. strength, futures since off best awaiting NVIDIA earningsUS President Trump says Canada joining the Golden Dome is free if they are the 51st State, adding "They are considering the offer!"DXY continues to pick up, EUR/USD tests 1.13 to the downside & Cable lost 1.35, JPY choppyRBNZ cut as expected, but refrained from overtly dovish languageJGBs came under pressure after a somewhat mixed 40yr auction, USTs & EGBs also softCrude marginally firmer ahead of OPEC, gold indecisive, base peers lacklustreLooking ahead, highlights include German Unemployment Rate, ECB SCE, US Richmond Fed Index, FOMC Minutes, OPEC+/JMMC, Speakers including Fed's Williams, Kashkari & BoE's Pill, Supply from UK, Germany & US, Earnings from NVIDIA, Salesforce, Abercrombie & Macy's.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

This week, we discuss the U.S. fiscal pivot, soaring deficits, and what it means for bond markets, Bitcoin, and global capital flows. We also debate whether Japan is the canary in the coal mine for sovereign debt risks, if QE is still politically viable, the housing market crisis, and why Bitcoin and foreign equities may be the only rational long-term trades. Enjoy! — Follow Tyler: https://x.com/Tyler_Neville_ Follow Quinn: https://x.com/qthomp Follow Felix: https://twitter.com/fejau_inc Follow Forward Guidance: https://twitter.com/ForwardGuidance Follow Blockworks: https://twitter.com/Blockworks_ Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidance Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx — Weekly Roundup Charts: https://drive.google.com/file/d/1zNQbt0lyXLmZQYf-56mneLpPxFNJ5y7h/view?usp=sharing — Join us at Permissionless IV June 24th - 26th. Use code FG10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Blockdaemon is the gateway to the decentralized economy, securing over $110B in digital assets for 400+ institutions with blockchain nodes, APIs, MPC wallets and vaults, and staking solutions. Learn more: www.blockdaemon.com Arkham is a crypto exchange and a blockchain analytics platform. Arkham allows crypto traders and investors to look inside the wallets of the best traders, largest funds and most influential players in crypto, and then act on that information. Sign up to Arkham: https://auth.arkm.com/register?ref=blockworks Eligibility varies by jurisdiction. Users residing in certain jurisdictions will be excluded from onboarding. Echo Protocol is the first Bitcoin liquid re-staking and yield layer on MoveVM. As the second-largest protocol on Aptos by TVL, Echo secures nearly half of the network's bridged assets with ~$200M in aBTC minted. Check out https://www.echo-protocol.xyz/ to learn more! — Timestamps: (00:00) Introduction (01:46) Big Beautiful Bill (06:47) There's One Trade (09:39) Ads (Blockdaemon, Aptos, Arkham) (11:21) Government Spending Problem (14:10) US Economic Data (16:55) Housing Market Crisis (22:12) Global Collateral & JGBs (27:21) Food Prices & Labor (30:46) Ads (Blockdaemon, Aptos, Arkham) (33:10) Bond Yields & Inflation (38:32) Liquidity & Collateral Stress (42:03) US Equities Still Safe? (50:37) Final Thoughts — Disclaimer: Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

APAC stocks were marginally higher as the region took impetus from the rebound stateside; S&P 500 and Dow notched six-day win streaksEuropean equity futures indicate a positive cash market open with Euro Stoxx 50 future up 0.5% after the cash market closed flat on Monday.FX markets are broadly steady. AUD lags after the RBA delivered a 25bps cut and cut its inflation outlook.US President Trump stated that Russia and Ukraine are to immediately begin negotiations on a ceasefire and an end to the war.US House Speaker Johnson said they are almost there on the tax bill and he is very confident they will get it done.Looking ahead, highlights include German Producer Prices, Canadian Inflation, EZ Consumer Confidence, NZ Trade, G7 Finance Ministers Meeting, RBA's Bullock, BoE's Pill, ECB's Cipollone, Nagel, Fed's Bostic, Barkin, Collins, Musalem, Kugler, Daly & Hammack, Supply from Germany.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are modestly firmer whilst US equity futures sit in negative territory.USD remains out of favour, AUD weighed on after the RBA delivered a 25bps cut (as expected) and amid discussion of a 50bps cut.JGBs briefly hit by a poor auction, fixed recovery continues into numerous Fed speakers.Crude choppy on mixed geopolitics regarding Russia/Ukraine and Iranian nuclear talks.Iranian Supreme Leader Khamenei said "I don't think nuclear talks with the US will be successful", via Mehr news.Looking ahead, Canadian Inflation, NZ Trade, G7 Finance Ministers Meeting, ECB's Cipollone, Nagel, Fed's Bostic, Barkin, Collins, Musalem, Kugler, Daly & Hammack. Earnings from Home Depot & Bilibili.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Europe on holiday, US equity futures entirely in the green with sentiment boosted after strong META/MSFT results.DXY is a little firmer ahead of US data, JPY hit post-BoJ/Ueda.JGBs lead post BoJ/Ueda, USTs await Tier 1 data points.Crude continues to decline, XAU hit by the USD while base peers welcome the US tone post-Mag7.Looking ahead, US Challenger Layoffs, Jobless Claims & ISM Manufacturing.Earnings from Amazon, Apple, Riot Platforms, Reddit, Airbnb, Eli Lilly, Roblox, CVS, MasterCard, McDonald's.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Anyone looking to by gold really needs to contact today's video sponsor, our friends over at DefytheGrid, using the link below:https://defythegrid.com/c/eurodollaruniversity/Make sure you use Coupon Code: eurodollaruniversityA big move in Japan today, with yields dropping and the yen rising. Both were matched by some truly grim developments and warnings from around the world, everything from AI to the Bank of Canada's extreme case and then some truly grim results in New York. Or, exactly what JGBs and JPY are signaling themselves. Eurodollar University's Money & Macro AnalysisBloomberg Nvidia Curbs and ASML Warning Spur Global Tech-Stock Routhttps://www.bloomberg.com/news/articles/2025-04-16/nvidia-supplier-stocks-drop-on-latest-china-export-restrictionsWTO April 2025 Global Trade Outlookhttps://www.wto.org/english/res_e/booksp_e/trade_outlook25_e.pdfFRBNY April 2025 Business Leaders Survey https://www.newyorkfed.org/medialibrary/media/Survey/business_leaders/2025/2025_04blsreport.pdf?sc_lang=en&hash=F63E9C1D24FCF84A22217C915C713718https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Fed Chair Powell reaffirmed a wait-and-see approach and suggested incredibly high uncertaintyUS President Trump said "Big Progress!" was made with Japan on tradeAPAC shrugged off the negative Wall St. handover, but gains were capped with drivers limitedDXY found reprieve from recent pressure but remains below 100.00, USD/JPY hit a seven-month low but has since rebounded back above 142.00USTs & JGBs soft while Bunds lacked firm direction; French supply aheadCrude extended on Wednesday's strength, XAU pulled back from fresh record highs, base metals choppyLooking ahead, highlights include German Producer Prices, US Jobless Claims, Philly Fed Index, ECB & CBRT Policy Announcements, Speakers including ECB President Lagarde, Fed's Barr & Williams, Supply from France. Earnings from TSMC, UnitedHealth, American Express, DR Horton, Netflix, Sainsbury's, Rentokil & L'OrealClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US bourses finished mixed with futures thereafter pressured after NVIDIA flagged 5.5bln of charges.White House said over 15 trade deal proposals are being considered and some could be announced soon.DXY gave back some of Tuesday's strength, EUR/USD back above 1.13 and Cable above 1.3250 into UK CPI.USTs paused for breath after gains sparked by Treasury officials, Bunds rebounded and JGBs retested 141.00Crude benchmarks lackluster, XAU hit another record high while base peers followed the risk tone lowerLooking ahead, highlights include UK CPI, US Retail Sales, NZ CPI, BoC Policy Announcement, Speakers including Fed's Powell, Cook, Hammack, Logan & Schmid, BoC's Macklem & Rogers, Supply from Germany & US.Earnings from Heineken, US Bancorp, Abbott, Progressive, Travelers, Prologis, Autliv, Citizens, First Horizon, Alcoa, Barratt Redrow, Moncler, Brunello Cucinelli & Lindt.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Trump lifted the tariff on China to 125% with immediate effect, announced a 90-day pause & cut reciprocals to 10% for nations that asked for talks.Sparked significant risk on with US bourses closing higher by around 10%, APAC stocks surged & European futures are markedly higher.DXY gave back Wednesday's strength, FOMC Minutes a non-event; EUR higher but shy of 1.10, USD/JPY faded from highs above 148.00.USTs rebound from lows, aided by a strong 10yr tap. Bunds & JGBs hit on the 90-day pause.Crude followed the broader risk tone, metals surge.Looking ahead, highlights include Norwegian & US CPI, US Jobless Claims, Chinese M2 Money Supply, Speakers including RBA's Bullock, BoE's Breeden, Fed's Logan, Bowman, Schmid, Goolsbee & Harker, SNB's Tschudin & Moser, Supply from Spain & US.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump is said to be pushing senior advisers to go bigger on tariff policy as they prepare for ‘Liberation Day' on April 2nd; reportedly revived the idea of a flat universal tariff single rate on most imports.European bourses and US futures in the red given the above and into month & quarter end, Euro Stoxx 50 -1.5%, ES -1.0%; NQ -1.3% with NVDA pressured.DXY has been on either side of the unchanged mark throughout the morning, EUR and GBP flat/slightly softer while USD/JPY hit a 148.71 low as the Nikkei 225 entered correction territory.Fixed benchmarks bid on the broad risk tone, German State CPIs sparked a fleeing move lower into the mainland figure, JGBs slipped as the BoJ cut its bond purchase amounts.Crude firmer as geopolitical tensions outweigh the macro tone following reports around Trump on Iran, XAU at a fresh record high, base metals dented.US President Trump threatened to bomb Iran if a nuclear deal can't be reached, while he also warned of secondary tariffs on Russian oil.Looking ahead, highlights include US Chicago PMI & Trump's executive orders.Note: UK clocks changed from GMT to BST on Sunday which means the London to New York time gap returned to five hours.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk