evening wrap

market vibes

March 5…)

Notable items today included the worst day for German bunds since 1990. Yesterday was terrible ,too, which may explain another vertical plunge in DXY.

A one month tariff exemption for automobiles from Mexico and Canada at the behest of “industry leaders”. April 2 is the big day for reciprocal tariffs and China’s forewarning how they felt about it was not subtle.

In the markets

Silver had an excellent day, unexpectedly out pacing gold with an .85 cent rally to gold’s 5 dollars. Technically silver in nowhere land, compressing more and more in the mid $30s but showing no sign of a breakout.

Just a heads up there are about 5 mm shares of SLV call between $29 and and $30.50 expiring on Friday. SLV traded ca 29.70 all day today. One of these days Alice…

DXY dropped 1%, the worst day for the index primarily Yen, EUR and CHF since January.

NYMEX WTI at the bottom of the range, bonds on hold, bitcoin and stocks on the fence…up next.