Limit Up! 22nd January 2025

Overnight

Possible tariffs of 25% for Canada and Mexico, 10% for China came of out The White House yesterday but's it's all pretty much priced into markets. Canada CPI slightly higher than expected. UK unemployment slightly higher than expected. Lots of talking of the UK being the first country to collapse under it's debt burden.

Ray Dalio Warns of UK Government ‘Death Spiral’ After Bond Yield Spike [Morningstar]

The USD weaker still and US Treasury yields lower enabled stocks and Bitcoin to rally.

Breaking

Bank of England faces "increasingly tricky" interest rate path - Morgan Stanley [investing.com]

Trump says he’s considering a 10% tariff on China beginning as soon as Feb. 1[CNBC]

Crypto

Bitcoin playing the technical levels perfectly, just chilling. Waiting on Trump.

Foreign Exchange

DXY confirmed breakdown and now stable this morning.

Equities

NASDAQ heading back to the scene of the crime?

Bonds

JGBs waiting for a much talked about rate hike on Friday. It's more likely that the BoJ will pull the trigger now that Trump is in power as US bonds have stabilised.?

Precious Metals

Gold leads but silver lags

Commercial Real Estate

Office Vacancy Q4 - Cushman & Wakefield

• Atlanta 25.2%
• Austin 29.8%
• Chicago 25.1%
• Cincinnati 26.1%
• Dallas 26.2%
• Denver 25%
• Houston 25.5%
• Los Angeles CBD 31.8%
• Minneapolis/St Paul 29.3%
• OK City 26.5%
• Phoenix 28.5%
• San Francisco 34.2%
• Seattle 30%

Interesting

Iron ore could collapse 30pc as Rio Tinto floods market [AFR]

Spain Premier Aims to Ban Non-EU Citizens From Buying Homes [Bloomberg]

A second hospital bankruptcy draws more private equity scrutiny [Axios]

Economic Indicators Today