evening wrap, january 22
market vibes
"Bitcoin is rat poison squared.” Warren Buffett
Good Excellent data today
Wrapping up the day in Davos, Howard Lutnik brutalized a panel of Eurocrats. Jamie Dimon had a foot stamper … (she tried to shut him up!) This a hilarious example of the EU and WEF.
In other n‘importe de quoi Daniel Lacalle posted this chart via BBG on X. Foreign ownership of US debt is at an all-time high. There are so many slurs in the media related to US debt… I’m pleasantly surprised. Great news for the Yen carry.
in the markets
As I tap the keys this evening, China is buying silver with $100/toz a few tix away. A surge in Open interest implies new longs and new shorts with average entry prices => $95/toz. Volume is light indicating a shortage of selling and a marginal imbalance of buying. The trend is the force taking it up.
The relic is up $100 in a third day of higher highs and higher lows and less than a stone’s throw from $5000.
