The pattern of freer trade for friends and restricted trade elsewhere is a template that is now being repeated globally as the world coalesces into interest blocs with geopolitical hedgerows erected in between...

"It's like watching a fatal car crash in slow motion..."

20-day factor volatility just hit its highest level since 2021, signaling a fast, disorderly leadership unwind. This is active de-positioning.

...market turmoil sparks rumors.

...and it argues for running a bit smaller until technicals rebuild – better liquidity, less crowded shorts, more balanced positioning.

The next five days will feature an unusual pairing of major US data releases: the January employment report on Wednesday and the January CPI report on Friday, two reports which usually never appear in the same week

Navy issues photo set of A-10 Thunderbolt doing strafing runs...

They didn't think this through...

"Once again, Big Pharma is weaponizing the US..." 

European equities experienced one of the highest dispersion sessions in years last week: The gap between the weighted average realized volatility of Euro Stoxx 50 Index constituents and the gauge itself spiked above 30 points, the second-largest gap since 2009.  

“These moves also make people say, ‘Let me be a little bit more cautious than I had been” and wait for a better opportunity"

Still wondering why BTC looks soggy? Check KOSPI vs BTC. Perfect substitutes?

Radical leftist ramps up obstruction efforts amid Trump’s deportation push...

...top Goldman trader suggests this feels like a classic “what would Warren Buffett buy” market.

The pessimism trade is over. The momentum phase has begun.

Automotive giant Stellantis is reporting multi-billion-euro write-downs for the second half of 2025. At the same time, management announces a strategic return to traditional internal combustion engines and a stronger focus on hybrid powertrains. 

"The NFL having a Super Bowl Halftime Show where their performer sings ENTIRELY in Spanish & waves other nation's flags..." 

Hedging the end game — gold understands Japan. BTC doesn’t.