Newsletter

Micron hits US$1trn at record speed. Argentina’s on track to producing 70% more oil. HK overtakes Switzerland as the world’s wealth hub. Emerging markets are outperforming the S&P 500. US food prices are re-accelerating.

The semiconductor price shock brewing in Asia. Gulf oil exports bypassing the Strait of Hormuz. Midterm elections historically mean a rough summer for the S&P 500. US inflation to exceed 5% by November midterms. The Fed may change how it measures inflation.

Nasdaq’s historic melt-up. US inflation is back. Korean DRAM prices hit a record US$64,000/kg. Copper hits a new record high. Japan’s 10-year yield hits a 29-year high.

Taiwan and Korea add US$4.6 trillion in AI surge. Anthropic’s pre-IPO valuation hits US$1.2 trillion. The airline industry hits a fuel wall. Oil inventories heading for operational stress. Nonmonetary gold is surging as America’s top export.

UAE exits OPEC after 59 years. Iran war chokes global fertilizer supply. Bear markets are buying opportunities. EV adoption remains uneven globally. Gold’s historic decoupling from real rates.

Trump extends the US ceasefire with Iran. China is still stockpiling gold. Strong 10-day rallies are bullish. US Gov’t to start refunding US$166bn in tariffs. Moody’s upgrades Thailand’s credit outlook.

The US blockade of Hormuz tightens. Amazon’s exponential capex binge. US consumer sentiment hits a 74-year low. While America sells, China buys. The average person today lives better than yesterday’s kings.

Trump announces ceasefire with Iran. Japanese government bond yields are OFF THE CHARTS. Berkshire’s war chest: US$373 bn of cash and Treasury bills. President Trump’s other inflation headache is beef. Most people think oil = petrol.

Energy is on a tear. The Strait of Hormuz doesn’t just move oil. Foreigners are dumping Asian stocks. Stagflation risk has increased. Foreigners own less US Treasuries.

Commodity prices can go way higher. Food prices are likely to rise. Saudi Arabia is rerouting its oil. Is gold going to beat the bear?. Green energy deforests the Amazon.