Goodbye January
market vibes
January 31…)
Globalists at Davos this year….
Inflation data at 8:30 came in a little warm! For some reason employment costs and spending never seem to match inflation. Maybe that ‘s a good sign.
In the News
The Mag 7s are being recast as the “Lag 7s”. BofA Harnett says tech will lag in 2025. Lots of very frothy record gold postings on X. Trump levied tariffs on Mexico and Canada, and no surprise, Canadian dollars made new lows. The Peso did nothing.
In 2023, the United States imported $2,186,739,610 in silver from Mexico, which was equivalent to 2,585,780 kilograms or 83,159,450.45 troy ounces. This made the US the primary destination for Mexico's silver exports, accounting for 99% of the total. That is a lot of silver, 9 or 10% of 2024 global production.
Apparently, Canada is not a significant supplier of silver to the US. Both Canada and Mexico exported about 2.5 billion USD to America in 2023, or approximately 2.5 mm toz, according to web searches.
In the Markets
Dollars and interest rates are imperceptibly higher, stocks are up, bitcoin is motionless in the middle of its January range. Precious metals are teetering atop their spikes yet holding their gains. Let’s take a closer look:
