FINALIZED : got comex data

GOLD CLOSED DOWN $6.25 TO $2753.75

SILVER CLOSED UP $.34 TO $30.77

IMPORTANT: I COULD NOT RETRIEVE THE COMEX INVENTORY MOVEMENTS . IT IS SO FALSIFIED THAT THEY CANNOT GET ANYTHING STRAIGHT. I WILL SOMEHOW GET IT LATER TONIGHT AND I WILL FINALIZE TODAYS REPORT.

THIS FRIDAY NIGHT JAN 31. ENDS OTC/LBMA CONTRACTS. AND THE REASON FOR RAIDS AS THIS IS THEIR USUAL MODUS OPERANDI.

ALSO CHINA IS OFF THIS WEEK DUE TO THE CHINA NEW YEAR .

Gold ACCESS CLOSED $2654.25

Silver ACCESS CLOSED: $30.74

Bitcoin morning price:$102,290 UP 240 DOLLARS.

Bitcoin: afternoon price: $103,260 up 1210 DOLLARS

Platinum price closing UP $4.95 TO $949.85

Palladium price; UP $10.65 TO $965.65

END

*CANADIAN GOLD: $3972.58 DOWN 5.50 CDN dollars per oz( * NEW ALL TIME HIGH 3,978.15 CDN DOLLARS PER OZ//JAN 24 2025)

*BRITISH GOLD: 2213.55 DOWN 6.80 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///2,237.76 BRITISH POUNDS/OZ) JAN 22/2025

*EURO GOLD: 2,645.32 DOWN 397 Euros per oz //* (ALL TIME CLOSING HIGH: 2,648.25 EUROS PER OZ/JAN 28 //2025)

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END

EXCHANGE

EXCHANGE: COMEX
CONTRACT: JANUARY 2025 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,766.800000000 USD
INTENT DATE: 01/28/2025 DELIVERY DATE: 01/30/2025
FIRM ORG FIRM NAME ISSUED STOPPED

072 H GOLDMAN 1
118 C MACQUARIE FUT 3
167 C MAREX 167
190 H BMO CAPITAL 38
323 C HSBC 575
363 H WELLS FARGO SEC 703
435 H SCOTIA CAPITAL 115
555 C BNP PARIBAS SEC 1000
624 H BOFA SECURITIES 128
657 C MORGAN STANLEY 144
661 C JP MORGAN 38
686 C STONEX FINANCIA 3 4
709 C BARCLAYS 2561
732 C RBC CAP MARKETS 1
732 H RBC CAP MARKETS 333
737 C ADVANTAGE 4 5
905 C ADM 23

TOTAL: 2,923 2,923

JPMorgan stopped (received) 38/2923 contracts

GOLD: NUMBER OF NOTICES FILED FOR JANUARY/2024. CONTRACT: 2923 NOTICES FOR 292,300 OZ  9.091 TONNES

total notices so far: 21,924 contracts for 2,192,400 Oz (68.193 tonnes)

FOR  JANUARY

SILVER NOTICES:70 NOTICE(S) FILED FOR 350,000 OZ/

total number of notices filed so far this month : 2,238 for 11.190 million oz

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GLD/

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL

THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.

WITH GOLD DOWN $6.25 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD:

MEGA HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4.02 TONNES OF GOLD FROM THE GLD./

INVENTORY RESTS AT 861.04 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $0.34 AT THE SLV: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A HUGE WITHDRAWAL OF 1.639 MILLION OZ OUT OF THE SLV///

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 453.252 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A GOOD SIZED 329 CONTRACTS TO 165,135 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS GOOD SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR STRONG GAIN OF $0,34  IN SILVER PRICING AT THE COMEX WITH RESPECT TO TUESDAY’S TRADING. WE HAD A MEGA HUMONGOUS GAIN OF 1561 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH OUR GAIN IN PRICE//TUESDAY’S TRADING.. WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS ON TUESDAY COMEX TRADING ALONG WITH MONTH END SPREADERS AS THEY DESPERATELY TRIED TO CONTAIN SILVER’S PRICE RISE FOR THE PAST 4 WEEKS WHERE RAIDS ARE CALLED UPON AGAIN AND AGAIN TRYING TO STOP THE RISE IN SILVER’S PRICE AND TO QUELL ADDITIONAL DERIVATIVE LOSSES TO OUR BANKERS’ MASSIVE TOTALS. THEY SUCCEEDED A BIT WITH MONDAY’S PRICING LOSS BUT WE HAD ZERO LONGS BEING KNOCKED OFF WITH OUR HUGE GAIN IN OPEN INTEREST CONTRACTS ON OUR TWO EXCHANGES WIT TODAY’S TOTALS.. DERIVATIVE LOSSES CONTINUE TO MOUNT. WE HAD CONSIDERABLE T.A.S. LIQUIDATION TUESDAY COUPLED WITH ANOTHER NEW HUGE T.A.S. ISSUANCE OF 850 CONTRACTS ISSUED BY THE CME AND THAT SIGNALS RED THAT THE CROOKS ARE DESPERATE TO STOP SILVER BREAKING OVER THE 34.00 DOLLAR MARK. THE FRONT MONTH OF FEB STILL HAS A HUGE CONTANGO TO SPOT AS THE CROOKS NEED TO CASH SETTLE TO GET OUT OF THEIR CONTRACTS. THEY ARE PAYING A HUGE PRICE AS THEY ARE SHORT (AND THUS SUPPLIER TO OUR PATIENT- WAITING LONGS).

WE HAD A HUGE 1232 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY OUR 850 CONTRACT T.A.S ISSUANCE WHICH WILL BE USED IN FUTURE TRADING AS THEY PLAY AN INTEGRAL PART IN OUR COMEX TRADING TRYING TO CONTAIN ANY SILVER PRICE RISE. IN ESSENCE WE GAINED A MEGA HUMONGOUS SIZED 1561 CONTRACTS ON OUR TWO EXCHANGES WITH OUR GAIN IN PRICE. WE HAD HUGE TAS LIQUIDATION THROUGHOUT TUESDAY’S COMEX SESSION

PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR INITIATE A RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN WITH YESTERDAY’S TRADING ON SILVER.

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE.  THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS:  1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON TUESDAY NIGHT/WEDNESDAY MORNING: A HUGE 850 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE  OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES AND THUS THE REASON FOR CONSTANT RAIDS ESPECIALLY WITH OUR RAID ON JANUARY 13, JAN 23 AND JAN 24…. IT ALSO LOOKS LIKE THE FED (GOV’T) IS BEHIND EVERY DAY TRADING.

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY  $0.34 AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A MEGA HUMONGOUS GAIN IN OUR TWO EXCHANGES OF 1561 CONTRACTS.

WE HAD A 1232 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 8.110 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 630,000 OZ QUEUE JUMP//NEW STANDING ADVANCES TO 11.850 MILLION OZ

// STANDING FOR SILVER//JAN  11.850 MILLION OZ 

WE HAD:

/GOOD SIZED COMEX OI GAIN +// A HUGE 1232 SIZED EFP ISSUANCE/ VI)  HUGE SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 850 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: REMOVED 90 CONTRACTS.

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS JAN. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF JAN

TOTAL CONTRACTS for 19  DAYS, total 11,626 contracts:   OR 58.130 MILLION OZ  (611 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  58.130 MILLION OZ

LAST 24 MONTHS TOTAL EFP CONTRACTS ISSUED  IN MILLIONS OF OZ:

MAY 137.83 MILLION

JUNE 149.91 MILLION OZ

JULY 129.445 MILLION OZ

AUGUST: MILLION OZ 140.120

SEPT. 28.230 MILLION OZ//

OCT:  94.595 MILLION OZ

NOV: 131.925 MILLION OZ

DEC: 100.615 MILLION OZ

YEAR 2022:

 JAN 2022-DEC 2022

JAN 2022//  90.460 MILLION OZ

FEB 2022:  72.39 MILLION OZ//

MARCH 2022: 207.140  MILLION OZ//A NEW RECORD FOR EFP ISSUANCE

APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE

MAY: 105.635 MILLION OZ//

JUNE: 94.470 MILLION OZ

JULY : 87.110 MILLION OZ

AUGUST: 65.025 MILLION OZ

SEPT. 74.025 MILLION OZ///FINAL

OCT.  29.017 MILLION OZ FINAL

NOV: 134.290 MILLION OZ//FINAL

DEC, 61.395 MILLION OZ FINAL

TOTALS YR 2022: 1135.767 MILLION OZ (1.1356 BILLION OZ)

JAN 2023///   53.070 MILLION OZ //FINAL

FEB: 2023:       100.105 MILLION OZ/FINAL//MUCH STRONGER ISSUANCE VS THE LATTER TWO MONTHS.

MARCH 2023:  112.58 MILLION OZ//FINAL//STRONG ISSUANCE

APRIL  111.035 MILLION OZ(SLIGHTLY GREATER THAN THAN LAST MONTH)

MAY 66.120 MILLION OZ/INITIAL (MUCH SMALLER THIS MONTH)  

JUNE: 110.395 MILLION OZ//MUCH LARGER THAN LAST MONTH

JULY 85.745 MILLION OZ (SMALLER THAN LAST MONTH)

AUGUST: 171.43 MILLION OZ (THIS MONTH IS GOING TO BE HUGE //2ND HIGHEST ON RECORD

SEPT: 72.705 MILLION OZ (SMALLER THIS MONTH)

OCT: 97.455 MILLION OZ

NOV.  50.050 MILLION OZ 

DEC. 66.140 MILLION OZ//

TOTAL 2023: 1,104.10 MILLION OZ/

JAN ’24 : 78.655 MILLION OZ//

FEB /2024 : 66.135 MILLION OZ./FINAL

MARCH: 143.750 MILLION OZ// 4TH HIGHEST ON RECORD.

APRIL: 161.770 MILLION OZ (THIS MONTH WILL BE A WHOPPER OF ISSUANCE OF EFPS//3RD HIGHEST EVER RECORDED FOR A MONTH)

MAY: 135.995 MILLION OZ  //WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

JUNE 110.575 MILLION OZ ( WILL BE ANOTHER STRONG MONTH ISSUANCE)

JULY: 108.870 MILLION OZ (WILL BE A STRONG ISSUANCE MONTH/ A TOUCH OVER 100 MILLION OZ/)

AUGUST; 99.740 MILLION OZ//THIS MONTH WILL BE STRONG FOR ISSUANCE BUT LESS THAN JULY.

SEPT: 112.415 MILLION OZ//WILL BE A HUGE MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

OCT; 97.485 MILLION OZ (WILL BE SMALLER ISSUANCE THIS MONTH )

NOV. 115.970 MILLION OZ ( HUGE THIS MONTH)

DEC: 132.54 MILLION OZ (THIS MONTH WILL BE A HUMDINGER FOR ISSUANCE BUT ISSUANCE SLOWED DRAMATICALLY THESE PAST FIVE DAYS/// WILL NOT EXCEED MARCH 2022 RECORD OF 209 MILLION OZ

YEAR 2024 TOTAL: 1363.84 MILLION OR 1.363 BILLION OZ

JANUARY 2025: 58.130 MILLION OZ///(THIS MONTH’S ISSUANCE OF EXCHANGE FOR PHYSICAL WILL BE SMALL)

RESULT: WE HAD A GOOD SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 329  CONTRACTS DESPITE OUR STRONG GAIN IN PRICE OF SILVER PRICING AT THE COMEX/TUESDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE 1232 EFP ISSUANCE  CONTRACTS: 1232 ISSUED FOR MARCH AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH  EXITED OUT OF THE SILVER COMEX TO LONDON  AS FORWARDS.  WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR DEC OF  8.110 MILLION  OZ ON FIRST DAY NOTICE, FOLLOWED BY TODAY’S QUEUE JUMP OF 630,000 OZ

//NEW TOTAL STANDING FOR JAN ADVANCES TO 11.850 MILLION OZ 

WE HAVE 1. A HUMONGOUS SIZED GAIN OF 1561 OI CONTRACTS ON THE TWO EXCHANGES WITH OUR GAIN IN  PRICE// 2.THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE 850, CONTRACTS TRYING DESPERATELY TO CONTAIN SILVER’S PRICE RISE,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX SESSION ALONG WITH MONTH END SPREADERS. HOWEVER THEY STILL NEED THESE ISSUANCES FOR REPLENISHMENT FOR FUTURE TRADING //3. ZERO NET LONG SPECULATORS WERE BURNED ON TUESDAY WITH THE GAIN IN PRICE. ALSO 4. SOME OF OUR LONGS EXERCISED THEIR CONTRACTS AND TENDERED FOR PHYSICAL SILVER MUCH TO THE ANGER OF OUR BANKERS. SILVER IS NOT BASEL III COMPLIANT SO THE BANKERS CAN TAKE THEIR TIME WITH THE DELIVERY OF SILVER.

THE NEW TAS ISSUANCE TUESDAY NIGHT   (850) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE

WE HAD 132 NOTICE(S) FILED TODAY FOR 660,000 OZ

THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A GOOD SIZED 5273 OI CONTRACTS  TO 577,505 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,105  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. (ALL TIME LOW OF 390,000 CONTRACTS.)

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY:  REMOVED A HUGE SIZED 1314 CONTRACTS//

WE HAD A GOOD SIZED DECREASE  IN COMEX OI (5273 CONTRACTS) OCCURRED DESPITE OUR GAIN OF $23.05 IN PRICE TUESDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR JAN AT 10.1331 TONNES  FOLLOWED BY TODAY’S MEGA MONSTER QUEUE JUMP OF 2255 CONTRACTS OR 225,500 OZ TO WHICH WE ADD THE FIRST ISSUANCE FOR EXCHANGE FOR RISK CONTRACTS TOTALLING 1700 CONTRACTS OR 170,000 OZ (5.28775 TONNES) ISSUED JAN 6/2025 TO WHICH WE ADD JAN 8 EXCHANGE FOR RISK ISSUANCE OF 150 CONTRACTS OR 15,000 OZ OR .4665 TONNES THEN LAST WEEK’S ISSUANCE OF 85 CONTRACTS//8500 OZ OR .2644 TONNES. THEN FINALLY THIS WEEK’S (JAN 22) ISSUANCE OF 5000 CONTRACTS FOR 5 MILLION OZ AND THURSDAY NIGHT”S (JAN 23) 500 CONTRACT ISSUANCE AND THEN FINALLY WITH FRIDAY NIGHT’S ISSUANCE OF A MONSTER 6454 CONTRACTS //20.074 TONNES FOR A TOTAL EX FOR RISK OF 43.208 TONNES//NEW STANDING FOR JAN ADVANCES TO 68.193 TONNES (NORMAL DELIVERY) +43.208 TOTAL EXCHANGE FOR RISK ISSUANCE = 111.401 TONNES

/NEW STANDING 101.727 TONNES

/ ALL OF THIS HAPPENED WITH OUR  $23.05 GAIN IN PRICE  WITH RESPECT TO TUESDAY’S COMEX ///. WE HAD A FAIR SIZED LOSS OF 1883 OI CONTRACTS (5.856 PAPER TONNES) ON OUR TWO EXCHANGES, WITH MANY LONGS, REMAINING AT THE END OF THE DAY, TENDERING FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE, MUCH TO THE ANGER AND HORROR EXHIBITED BY OUR MAJOR BANKER, THE FEDERAL RESERVE BANK OF NEW YORK. THE HORROR INTENSIFIED ONCE LONDON STARTED TO TRADE LAST WEEK, AND THROUGHOUT THE WEEK WITH MAJOR TENDERING FOR PHYSICAL VIA THE EXCHANGE FOR PHYSICAL ROUTE! YOU CAN VISUALIZE THIS WITH THE VIOLENT ACTION AT THE COMEX WITH RESPECT TO MASSIVE QUEUE JUMPING AND EXCHANGE FOR RISK ISSUANCES ON 6 OCCASIONS THIS MONTH

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 3398 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 577,505

IN ESSENCE WE HAVE A FAIR SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1883 CONTRACTS  WITH 5273 CONTRACTS DECREASED AT THE COMEX// AND A STRONG SIZED 3398 EXCHANGE FOR PHYSICAL OI CONTRACT ISSUANCE WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 1883 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A STRONG SIZED AND CRIMINAL 1455 CONTRACTS ISSUED.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3398 CONTRACTS) ACCOMPANYING THE GOOD SIZED DECREASE IN COMEX OI OF 5273 CONTRACTS/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 1883 CONTRACTS..WE HAVE 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT  ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR JAN 10.1331 TONNES FOLLOWED BY TODAY’S HUMONGOUS QUEUE JUMP OF 2255 CONTRACTS OR 225,500 OZ (7.0139 TONNES) TO WHICH WE ADD THAT CRAZY “DELIVERY” CALLED EXCHANGE FOR RISK ON 6 OCCASIONS THIS MONTH TOTALLING 43.208 TONNES OF GOLD.

NEW STANDING FOR JAN ADVANCES TO:

68.193 TONNES NORMAL DELIVERY +

43.208 TONNES OF EXCHANGE FOR RISK ON OUR SIX OCCASIONS IN JANUARY (6TH 8TH,17TH, 22ND 24TH AND JAN 25)

EQUALS: 111.401 TONNES

//NEW STANDING JAN: 111.401 TONNES WHICH IS THE HIGHEST EVER GOLD STANDING FOR A JANUARY DELIVERY MONTH.

 / 3) HUGE T.A.S. LIQUIDATION PLUS MONTH END SPREADER LIQUIDATION TRYING TO LOWER GOLD’S PRICE TUESDAY WITH ZERO SUCCESS IN REMOVING SOME NET SPECULATOR LONGS, AS WITH OUR1)  $23.05 PRICE GAIN , WE HAD 2) ZERO NET LONG SPECS BEING CLIPPED AS WE HAD A FAIR TOTAL LOSS OF CONTRACTS ON OUR TWO EXCHANGES (1883 OI CONTRACTS), ALL DUE TO OUR TWO SPREADER LIQUIDATIONS.. ALSO, 3)STICKY GOLD’S LONGS WERE REWARDED TUESDAY EVENING AS THEY EXERCISED EFP’S FROM LONDON TO TAKE DELIVERY OF BADLY NEEDED PHYSICAL.

  4)  GOOD SIZED COMEX OPEN INTEREST DECREASE 5)  STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///STRONG T.A.S.  ISSUANCE: 1455 T.A.S.CONTRACTS//

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY

JAN

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JAN :

TOTAL EFP CONTRACTS ISSUED: 76,401 CONTRACTS OF 7,640,100 OZ OR 237.63 TONNES IN 19 TRADING DAY(S) AND THUS AVERAGING: 4021 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 19  TRADING DAY(S) IN  TONNES  237.63 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS  237.63 DIVIDED BY 3550 x 100% TONNES = 6.67% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

 FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN)..

MARCH:.   276.50 TONNES (STRONG AGAIN/

APRIL:      189..44 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV:           312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC.           175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

MARCH/2022:  409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247.44 TONNES FINAL//

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

OCT:  177.57  TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)

NOV.  223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)

DEC:  185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

JAN 2023:    228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

FEB: 151.61 TONNES/FINAL

MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)

APRIL: 197.42 TONNES

MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY:  151.69 TONNES (WEAKER THAN LAST MONTH)

AUGUST:  195.28 TONNES (A STRONGER MONTH)//FINAL

SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)

OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.

NOV.   239.16 TONNES//WILL BE STRONG THIS MONTH,

DEC. 213.704 TONNES. A STRONG MONTH//

TOTAL FOR YEAR 2023: 2,569.57 TONNES VS  2578 TONNES LAST YEAR

JAN ’24:     291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)

FEB’24: 201.947 TONNES

MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.

APRIL: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)

MAY; 316.606 TONNES (WILL BE ANOTHER STRONG MONTH// 3RD HIGHEST RECORDED EFP ISSUANCE )// NOTICE THE HUGE INCREASES IN EX FOR PHYSICAL THESE PAST FEW MONTHS. THESE CONTRACTS ARE CIRCLED BACK FROM LONDON WHEREBY METAL IS REMOVED FROM THE COMEX.

JUNE 175.11 tonnes HEADING FOR A WEAKER MONTH AND MUCH LESS THAN THE THREE PREVIOUS MONTHS

JULY: 351. 65 TONNES (3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL AND THE HIGHEST EVER RECORDED POST BASEL III) 

AUGUST: 274.79 TONNES//THIS MONTH WILL NO DOUBT BE A STRONG ISSUANCE OF EFP’S BUT MUCH LESS THAN LAST MONTH.

SEPT: 335 .104 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE. WE WILL PROBABLY END JUST SHORT OF THE 3RD HIGHEST ISSUANCE EVER RECORDED.

OCT. 277.71 TONNES (THIS WILL BE A GOOD ISSUANCE THIS MONTH)

NOV: 393.875 TONNES ( A HUGE MONTH////NOW SURPASSED THE PREVIOUS 3RD AND 2ND HIGHEST EVER RECORDED EX FOR PHYSICAL ISSUANCE TO BECOME THE 2ND HIGHEST EVER RECORDED

DEC 360.03 TONNES THIRD HIGHEST EVER RECORDED FOR EFP ISSUANCE

TOTAL 2024 YEAR. 3,597.846 TONNES

JAN. 2025: 237.63 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)

SPREADING OPERATIONS

(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW  ACTIVE FRONT MONTH OF FEB. WE ARE NOW INTO THE SPREADING OPERATION OF  GOLD

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE  NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE  ACTIVE DELIVERY MONTH OF FEB., FOR  GOLD: AND MARCH FOR SILVER

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

The crooks also use the spread in the TAS  account  (trade at settlement).  They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle  of the  front delivery month cycle. They unload the sell side of the equation, two months down the road.  The crooks violate position limits as the OCC refuse to hear our complaints.

First, here is an outline of what will be discussed tonight:

1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A GOOD SIZED 329 CONTRACTS OI  TO 165,225 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  7 YEARS AGO.  HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 1232 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

MAR 1232 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1232 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE COMEX OI GAIN OF 329  CONTRACTS AND ADD TO THE 1232 E.FP. ISSUED

WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1561 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS A  HUGE 7.805 MILLION OZ OCCURRED WITH OUR $0.34 GAIN  IN PRICE  

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES

(Peter Schiff)

c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens

ii a) Chris Powell of GATA provides to us very important physical commentaries

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS  WEDNESDAY MORNING TUESDAY  NIGHT

SHANGHAI CLOSED

//Hang Seng CLOSED

// Nikkei CLOSED UP 397.91 OR 1.02%//Australia’s all ordinaries CLOSED UP 0.65%

//Chinese yuan (ONSHORE) CLOSED XXXX CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2711// Oil DOWN TO 73.45dollars per barrel for WTI and BRENT DOWN AT 77.10 Stocks in Europe OPENED ALL MOSTLY GREEN

ONSHORE USA/ YUAN TRADING XXXX LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING

WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

ASIA TRADING WEDNESDAY MORNING/TUESDAY  NIGHT

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A GOOD SIZED 5273 CONTRACTS TO 577,505 DESPITE OUR GAIN  IN PRICE OF $23.05 WITH RESPECT TO TUESDAY’S TRADING. WE LOST ZERO NET LONGS WITH OUR PRICE GAIN FOR GOLD AS WE HAD ALSO, AS YOU WILL SEE BELOW, A STRONG NUMBER OF EXCHANGE FOR PHYSICAL ISSUED (3398) . THE CME ANNOUNCED TUESDAY NIGHT, MUCH TO MY RELIEF 0 EXCHANGE FOR RISK CONTRACTS FOR NIL OZ. OR 0 TONNES OF GOLD. SO FAR THIS MONTH WE HAVE BEEN ISSUED THE HIGHEST NUMBER EVER RECORDED EXCHANGE FOR RISK ISSUANCE AT 6 FOR 20.074 TONNES.

THUS IN TOTAL WE HAD A FAIR LOSS ON OUR TWO EXCHANGES OF 1883 CONTRACTS DESPITE OUR STRONG GAIN IN PRICE. OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN ON TUESDAY NIGHT AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED RAID AS THEY ABSORBED EVERYTHING IN SIGHT FROM THE DAILY ATTACKS WITH THE CONTINUAL LIQUIDATION OF T.A.S. CONTRACTS. LONDONERS EXERCISED THEIR BOUGHT CONTRACTS FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE AND THANKED THE FRBNY FOR THE THOUGHTFULNESS.

THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THIS MONTH CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY AND IT SURELY WAS ON DISPLAY THIS ENTIRE WEEK INCLUDING TODAY WITH OUR STRONG T.A.S. ISSUANCES. WE HAD A STRONG T.A.S. LIQUIDATION DURING LAST WEEK’S COMEX SESSIONS WHERE WE FINISHED WITH OUR 5 CONSECUTIVE HUGE 30,000+ ISSUANCES. TODAY THEY ISSUED A STRONG 1455 CONTRACT ANNOUNCEMENT (TUESDAY NIGHT/WEDNESDAY MORNING).

THE FED IS THE MAJOR SHORT OF AROUND 82+ TONNES OF GOLD OWING TO THE B.I.S. THE FED NEEDS TO COVER AS THEY ARE VERY WORRIED ABOUT WHAT IS GOING TO HAPPEN TO GOLD PRICES ONCE THE BRICS BEGIN THEIR INITIATIVE AND ABANDON THE US DOLLAR. THIS WAS SCHEDULED TO HAPPEN LATE OCT 2024/(AS OUTLINED IN OUR GOLD PHYSICAL COMMENTARIES//VIEW ANDREW MAGUIRE LATEST LIVE FROM VAULT PODCAST FRIDAY’S 197 , 199, 2001,   202, 203 , 204 ,205  206 AND 207 AS HE TACKLES THIS IMPORTANT TOPIC). THE FOUR OR FIVE BANKS ARE ALSO WORRIED ABOUT THEIR HUGE PRECIOUS METAL DERIVATIVE EXPOSURE (NORTH OF ONE TRILLION DOLLARS) AND THIS IS PROBABLY THE MAJOR REASON FOR GOLD/SILVER’S RISE THESE PAST TWO MONTHS. THEY ARE TOTALLY TRAPPED., AND THEIR FAILURE TO STOP CENTRAL BANK PURCHASES OF PHYSICAL GOLD IS THE MAJOR ISSUE OF THE DAY!IT SURE LOOKS LIKE THE BIS HAS GIVEN THE FED ITS MARCHING ORDERS TO COVER ITS PHYSICAL GOLD SHORT AS TRUMP CAME INTO OFFICE LAST MONDAY NOON. TRUMP WILL PROBABLY BE FURIOUS WITH THE FED IF IT FINDS OUT THAT THEY (FRBNY) HAS BEEN MANIPULATING THE GOLD MARKET FOR THE PAST TWO YEARS.

OUR PHYSICAL LONDONERS BOUGHT NEW MASSIVE QUANTITIES OF LONGS AT ANY PRICE AND THIS GOLD BOUGHT WILL BE TENDERED FOR PHYSICAL ON A T + 1 BASIS. BECAUSE GOLD IS BASEL III COMPLIANT, GOLD MUST BE DELIVERED IN A VERY TIMELY ONE DAY. CENTRAL BANKS AROUND THE WORLD, BEING REPRESENTED BY OUR LONDONERS, ARE THE REAL PURCHASERS OF THIS GOLD.

THE PROBLEM FOR THOSE PROVIDING THE SHORT PAPER IS THE SHOCK TO THEM ON RECEIVING NOTICE THAT THE LONGS WANT THE PHYSICAL GOLD AS THEY TENDER FOR THAT SHINY YELLOW METAL. THE HIGH LIQUIDATION OF THE SPREADERS // T.A.S DURING THE LAST WEEK OF DECEMBER AND NOW THIS WEEK, IS SURELY DISTORTING COMEX OPEN INTEREST BUT THAT DOES NOT STOP LONDON’S ACCUMULATION OF PHYSICAL! YOU CAN ALSO VISUALIZE THAT PERFECTLY WITH THE HUGE AMOUNTS OF QUEUE JUMPING ORCHESTRATED BY CENTRAL BANKERS BOLTING AHEAD OF ORDINARY LONGS AS THEIR NEED FOR PHYSICAL IS GREAT AS THEY SCOUR THE PLANET LOOKING FOR GOLD. AS YOU WILL SEE BELOW, WE HAD ANOTHER HUGE QUEUE JUMPING SESSION TODAY.

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW DEEP INTO THE NON ACTIVE DELIVERY MONTH OF JANUARY.…  THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A STRONG SIZED 3390 EFP CONTRACTS WERE ISSUED: :  /FEB  3390 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3390 CONTRACTS. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD DELIVERED COMES FROM LONDON.

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 1883 CONTRACTS IN THAT 3390 CONTRACT LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A GOOD SIZED LOSS OF 5273 COMEX  CONTRACTS..AND THIS SMALL LOSS  ON OUR TWO EXCHANGES HAPPENED WITH OUR HUGE GAIN IN PRICE OF $23.05 TUESDAY// COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AT THE COMEX AS MENTIONED  ABOVE.

T.A.S. ISSUANCE

AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS USUALLY DURING MID MONTH IN THE DELIVERY CYCLE), BUT NOW ON A DAILY BASIS, THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR TUESDAY NIGHT/WEDNESDAY MORNING WAS A STRONG SIZED SIZED 1455 CONTRACTS, AS AGAIN, ALL OF THE TRADING AND SUPPLY OF CONTRACTS HAVE BEEN ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK). AS PER THEIR MEGA 5 DAY ISSUANCE OF T.A.S OVER A WEEK AGO, THE FED WAS EXPERIMENTING WITH EINSTEIN’S DEFINITION OF INSANITY….TRYING TO DO THE SAME THING OVER AND OVER AGAIN HOPING FOR A DIFFERENT RESULT. HIS DEFINITION STILL STANDS.. THE CROOKS ACCOMPLISHED LITTLE AS FEW LEFT OUR GOLD METAL ARENA. OUR HUGE RAID WAS ORDERED BY THE FED WITH MONDAY’S TRADING AS THE GOLD PRICE GOT HAMMERED A BIT WITH COMEX OPTIONS EXPIRY. AS YOU CAN SEE WITH TUESDAY’S TRADING IT HAS NO EFFECT ON GOLD AS IT SHOT UP AGAIN IN PRICE QUITE NICELY TODAY.

MECHANICS OF T.A.S CONTRACTS

THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL OFF THE LONG SIDE OF THE SPREAD (T.A.S.) WHICH  OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR/T.A.S. SPREAD WHICH WILL BE LIQUIDATED IN DAYS HENCE//. IT SEEMS THAT OUR CROOKS ORCHESTRATED, ON DEC. 27, THEIR HUGE RAID TO LOWER THE PRICE OF GOLD TO MAKE THEIR COMEX BETS WHOLE ON OPTIONS EXPIRY WEEK AND THUS THE NEED FOR CONTINUAL STRONG T.A.S. ISSUANCE AND THEN LIQUIDATION. THIS WAS COUPLED WITH THE LIQUIDATION OF CALENDAR SPREADERS . THE USE OF OUR TWO SPREADER MECHANISMS WERE OF EXTREME IMPORTANCE TO OUR CROOKS IN LATE DECEMBER’S OPTIONS EXPIRY TRADING. T.A.S. LIQUIDATION WAS EVIDENT IN JAN 6 COMEX TRADING//RAID AND THEN AGAIN WITH LAST TUESDAY’S FAILED ATTEMPT AT A RAID ON GOLD PRICE. HOWEVER NOT TO BE UNDONE, THE CROOKS ISSUED ANOTHER MONSTER 39,913 T.A.S CONTRACTS WEDNESDAY MORNING JAN 17. THIS WAS THE FIFTH CONSECUTIVE 30,000+ CONTRACT ISSUANCE. ALL OF THESE T.A.S. ISSUANCES WERE USED IN AN ATTEMPT TO THWART GOLD TRADING ESPECIALLY BEFORE TRUMP’S INAUGURATION AS THE FED MUST REDUCE ITS MASSIVE PHYSICAL GOLD SHORT OF 82 TONNES. THEY FAILED MISERABLY AS GOLD SKYROCKETED IN PRICE THIS WEEK AND NOW TO ALL TIME RECORD HIGHS IN USA DOLLAR TERMS AND OTHER CURRENCIES.

STANDING FOR GOLD FOR THE PAST 4 PLUS YEARS:

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   JAN (111.401 TONNES) WHICH IS HUGE FOR OUR  NON ACTIVE JAN DELIVERY MONTH AND THE HIGHEST STANDING FOR GOLD EVER RECORDED FOR ANY JANUARY.

JANUARY: 65.85 TONNES

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 50 MONTHS OF 2021-2024:

DEC 2021: 112.217 TONNES

NOV.  8.074 TONNES

OCT.    57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY 7.2814 TONNES

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL  YEAR  2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT.  38.1158 TONNES

OCT:  77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL  YEAR 656.076 TONNES)

2023:

JAN/2023:    20.559 tonnes

FEB 2023: 47.744 tonnes

MAR:  19.0637 TONNES

APRIL: 75.676  tonnes

MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk =  20.338

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)

SEPT: 15.281 TONNES FINAL

OCT.    35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes

NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK   = 34.9627 TONNES

DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK =  51.707 TONNES

TOTAL 2023 YEAR : 436.546 TONNES

2024

JAN ’24.      22.706 TONNES

FEB. ’24:  66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES

APRIL: 2024: 53.673TONNES FINAL

MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325

JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022

JULY: 11.692 TONNES

AUGUST 69.602 TONNES//FINAL STANDING

SEPT. 13.164 TONNES.

OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES

NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES

DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES  EQUALS 95.1066 TONNES

total year 2024: 540.30 tonnes

January 2025: 68.193 TONNES + 43.208 EXCHANGE FOR RISK= 111.401 TONNES

COMEX GOLD TRADING

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $23.05)//AND WERE UNSUCCESSFUL IN KNOCKING OFFANY APPRECIABLE NET SPECULATOR LONGS AS WE DID HAVE A SMALL LOSS IN OUR TWO EXCHANGES. AS EXPLAINED ABOVE WE HAD CONSIDERABLE T.A.S. SPREADER LIQUIDATION TUESDAY PLUS MONTH END SPREADER LIQUIDATION AS THEY WERE TRYING TO QUELL GOLD’S RISE AND HUGE COMEX/OTC DERIVATIVE LOSSES. THE BANKERS WERE SOMEWHAT SUCCESSFUL IN SLOWING THEIR DERIVATIVE LOSSES IN PRECIOUS METAL BETS WITH OPTIONS EXPIRY MONDAY NIGHT AND BUT NOT TUESDAY’S HUGE GAIN IN PRICE! OUR TWO SPREADER LIQUIDATIONS DISTORTS OPEN INTEREST AS I EXPLAINED ABOVE.

THE CROOKS HOWEVER COULD NOT STOP CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL TUESDAY EVENING/WEDNESDAY MORNING.

EXCHANGE FOR RISK EXPLANATION/DECEMBER AND JANUARYTRADING

DECEMBER

50 DAYS AGO, FRIDAY NIGHT (EARLY SATURDAY MORNING NOV 30) THE CME ANNOUNCED ANOTHER OF THOSE CRAZY DELIVERIES: THE ISSUANCE OF 250 EXCHANGE FOR RISK CONTRACTS WHICH TOTAL 25000 OZ (.7776 TONNES. HERE THE BUYER ASSUMES THE RISK THAT HE WILL BE DELIVERED UPON IN PHYSICAL METAL. THIS IS ABSOLUTELY INSANE AND A HUGE VIOLATION OF THE TRUE DISCOVERY PRICE MECHANISM WHICH IS THE COMEX MANTRA!. AND THEN GUESS WHAT? THE CME ANNOUNCED ANOTHER EXCHANGE FOR RISK, LATE TUESDAY EVENING/ EARLY WEDNESDAY MORNING, (DEC 5) OF 617 CONTRACTS FOR 61,700 OZ OR GOLD (1.919 TONNES). THEN MUCH TO MY ANGER, THE CME ANNOUNCED A THIRD ISSUANCE FRIDAY NIGHT DEC 7 FOR A MONSTROUS 2254 EXCHANGE FOR RISK CONTRACTS OR 225,400 OZ OR 7.0108 TONNES. NOT TO BE UNDONE, THE CROOKS CONTINUED WITH THEIR NONSENSE WITH ANOTHER 50 CONTRACT EXCHANGE FOR RISK THE MORNING OF DEC 12 FOR 5000 OZ OR .1555 TONNES. AND THIS BRINGS US TO THIS EARLY FRIDAY MORNING (DEC 13) WHERE I WAS SHOCKED TO SEE FOR THE FIFTH TIME THIS MONTH AN ENTRY FOR 250 CONTRACTS OF EXCHANGE FOR RISK FOR 25000 OZ OR .7776 TONNES.THUS ALL FIVE OF THESE ISSUANCES WILL BE ADDED TO THE TOTAL GOLD BEING “DELIVERED UPON”. THIS BRINGS US TO EARLY SATURDAY MORNING DEC 21 WHERE TO MY SHOCK AGAIN WE HAD OUR 6TH ISSUANCE OF EXCHANGE FOR RISK TOTALLING 1300 CONTRACTS FOR AN ASTOUNDING 4.043 TONNES. THIS BRINGS THE TOTAL ISSUANCE FOR THE MONTH OF DEC TO 6 FOR 14.6836 TONNES A NEW RECORD. THE COMEX IS TOTALLY SHATTERED TO PIECES.

EXCHANGE FOR RISK THIS JANUARY MONTH

WE NOW BEGIN OUR NEW MONTH OF JANUARY AND LO AND BEHOLD, THE CROOKS ISSUED THEIR FIRST ISSUANCE A MONSTER 1700 CONTRACTS FOR EXCHANGE FOR RISK TOTALLING 170,000 OZ OR 5.28775 TONNES ON MONDAY JAN 6/2025. THEN TO MY HORROR, THEY ISSUED THEIR SECOND EXCHANGE FOR RISK ON JAN 8, TOTALLING 150 CONTRACTS FOR 15000 OZ OR .4665 TONNES. THIS TONNAGE WILL BE ADDED TO THE FIRST ISSUANCE. THUS TOTAL EXCHANGE FOR RISK ISSUANCE FOR OUR TWO EARLY JANUARY EX FOR RISK: 5.7533 TONNES. THEN MERCILESSLY THEY CONSUMMATED FOR THE THIRD TIME THIS MONTH 85 EXCHANGE FOR RISK LAST THURSDAY NIGHT (JAN 17) FOR 8500 OZ OR .2649 TONNES OF GOLD. THEN TO MY HORROR THEY ISSUED THEIR 4TH EXCHANGE FOR RISK THIS MONTH (JAN 22) FOR A MONSTER 5000 CONTRACTS OR 5,000,000 OZ.(15.562 TONNES).NOT TO BE UNDONE, THE CROOKS ISSUED THEIR FIFTH EXCHANGE FOR RISK LAST NIGHT FOR 500 CONTRACTS REPRESENTING 50,,000 OZ OR 1.555 TONNES OF GOLD. REMEMBER THAT THE BUYER ASSUMES THE RISK THAT HE WILL BE DELIVERED UPON WHICH IS TOTALLY ASININE!! THUS FOR THE 5 EXCHANGE FOR RISK ISSUED THIS MONTH TOTALS 23.134 TONNES OF GOLD. THIS BRINGS US TO , JAN 25 WHERE THE CME ANNOUNCED ITS SIXTH MAJOR EXCHANGE FOR RISK ISSUANCE OF 6454 CONTRACTS FOR 645400 OZ OR 20.074 TONNES OF GOLD. THIS IS THE HIGHEST EVER RECORDED ISSUANCE IN NUMBER OF EXCHANGE FOR RISK, AT 6, AND FOR NEW TOTALS FOR THE MONTH OF JANUARY: 43.208 TONNES!!!

TOTAL DELIVERIES JANUARY TRADING

WE HAVE LOST A SMALL TOTAL OF 1.745 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR JAN (10.133TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S MEGA MONSTER QUEUE JUMP OF 2255 CONTRACTS OR 225500 OZ (7.0139TONNES). THIS IS THE HIGHEST EVER RECORDED QUEUE JUMP IN COMEC HISTORY. WE MUST THEN ADD THIS MONTH’S 43.208 TONNES OF EXCHANGE FOR RISK ISSUANCE. THESE EXCHANGE FOR RISK ISSUANCES ARE TOTALLY INSANE AS THE BUYER ASSUMES RISK FOR THAT DELIVERY.

NEW STANDING FOR JAN: 68.193TONNES + 43.206 TONNES EX FOR RISK = 111.401 TONNES (WHICH IS HUGE FOR OUR VERY NON ACTIVE DELIVERY MONTH) A NORMAL AMOUNT STANDING FOR A JANUARY IN EARLIER TIMES HAS BEEN GENERALLY AROUND 1/4 TONNE OF GOLD. HOWEVER THESE PAST 4 YEARS QUEUE JUMPING HAS BEEN VERY PRONOUNCED AND THUS STANDING INCREASES DRAMATICALLY.

ALL OF THIS WAS ACCOMPLISHED DESPITE OUR GAIN IN PRICE  TO THE TUNE OF $23.05

WE HAD 1314 CONTRACTS REMOVED FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. AND THIS IS TOTALLY INSANE AS WELL

NET LOSS ON THE TWO EXCHANGES 1883 CONTRACTS OR 188300 OZ (5.856 TONNES)

confirmed volume WEDNESDAY 320,105 contracts: strong ///

//speculators have left the gold arena

END

I/ /// THE JAN 2025 GOLD CONTRACT

JAN 29

FINAL?

dealer deposits: 0

nil//dealer

we have 6 customer deposits

into Brinks customer: 337,495.492 oz
ii) Into Brinks enhanced: 111,529.425 oz
or 429 Good London delivery bars/400 oz each
iii) into Int. Delaware: 10,636.400 oz
iv) Into JPMorgan: 198,050.160 oz (6160 kilobars)
v) Into Manfra 16,075.500 oz (500 kilobars)
vi) Into Manfra: 50,637.825 oz (1575 kilobars)
total weight: 724,424.802 oz or 22.532 tonnes

withdrawals: 2 customer account;

a) out of Brinks: 64,334.05 ,oz (2001 kilobars)
b) Out of Brinks enhanced: 8850.625 oz
22 Good London delivery Bar

total withdrawal: 73,184.776 oz

total withdrawal: 73,184.776 oz

adjustments:4/customer to dealer

i) out of Brinks 103,780.378 oz 3228 kilobars

ii) out of Delaware 484.854 oz

iii) Out of Loomis: 771.624 oz (24 kilobars)

iv) Out of Manfra 50,309.172 oz

total adjusted customer to dealer 161,346.027 oz (5.01 tonnes

thus basically what comes into eligible is transferred to dealer accounts and then out.

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JAN.

For the front month of JAN: we have an oi of 2923 contracts having GAINED 1193 contracts. We had a strong 1062 contract issuance on TUESDAY. Thus ANOTHER MEGA HUGE QUEUE JUMP (GAIN) of 2255 contracts on our two exchanges. (225,500 oz or 7.0139tonnes). THIS IS THE HIGHEST EVER RECORDED QUEUE JUMP IN COMEX HISTORY. THIS QUEUE JUMP IS REPRESENTED BY CENTRAL BANKERS STANDING FOR PHYSICAL GOLD WITH LONDON VAULTS DRAMATICALLY RUNNING OUT OF PHYSICAL TO SUPPLY THEM

FEBRUARY LOST 44,215 CONTRACTS TO 128,292 AS IT BEGINS ITS COUNTDOWN BEFORE FIRST DAY NOTICE (JAN 31.2025) EXPECT A MEGA WOPPER OF A FEB DELIVERY MONTH AS THE FRONT MONTH HAS NOT BEEN DECLINING AS MUCH AS IT SHOULD. WE HAVE ONLY 2 MORE DAYS BEFORE FIRST DAY NOTICE THIS FRIDAY, JAN 31. EXPECT AROUND 60 TO 80 TONNES OF GOLD STANDING.

MARCH HAD A GAIN OF 1837 CONTRACTS UP TO 10,232

APRIL HAD A GAIN OF 34,316 CONTRACTS UP TO 346,047 CONTRACTS

We had 2923 contracts filed for today representing 292,300 oz  

This is a huge major assault on the comex for gold and this time it is physical that will be requested.

Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 2923 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 38 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account   

To calculate the INITIAL total number of gold ounces standing for JAN /2025. contract month, we take the total number of notices filed so far for the month (21,924x 100 oz ) to which we add the difference between the open interest for the front month of  JAN(2923 CONTRACTS)  minus the number of notices served upon today  (2923 x 100 oz per contract) equals  2,192400 OZ  OR 68.193 TONNES. to which we add those criminal exchange for risk issuance of .4665 TONNES (JAN 8) AND 5.28775 tonnes/JAN 6//TOTAL EXCHANGE FOR RISK TO JAN 17’S ISSUANCE OF .2644 TONNES TO WHICH WE ADD THIS WEEK’S MONSTER 15.562 TONNES ISSUANCE (JAN 22)/TO (JAN 24) 500 EX FOR RISK ISSUANCE = 23.134 TONNES AND THEN FINALLY TODAY’S ISSUANCE OF 20074 TONNES FOR A NEW TOTAL OF 43.208 TONNES EX FOR RISK. THUS NEW STANDING FOR GOLD AT THE COMEX FOR JAN IS 68.193 TONNES PLUS 43.208 TONNES EX FOR RISK = 111.401 TONNES

thus the INITIAL standings for gold for the JAN contract month:  No of notices filed so far (21,924 x 100 oz +we add the difference for front month of JAN (2923 OI} minus the number of notices served upon today (21,924 x 100 oz) which equals  2,192,400 oz (68.193 TONNES) + 43.208 TONNES = 111.401 TONNES

TOTAL COMEX GOLD STANDING FOR JAN.: 111.401 TONNES WHICH IS HUGE FOR THIS  NON ACTIVE DELIVERY MONTH IN THE CALENDAR AND THIS IS THE HIGHEST EVER RECORDED FOR ANY JANUARY.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 OZ PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 2,063,584.394 oz 64.186 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 30,438,255.912  

TOTAL REGISTERED GOLD 12,928,950.863 or 402.13 tonnes

TOTAL OF ALL ELIGIBLE GOLD: 17,509,305.048 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 10,865,366 oz (REG GOLD- PLEDGED GOLD)= 337.96 tonnes //

END

SILVER/COMEX

JAN 29. 2025

FINAL?

// THE JAN 2025  SILVER CONTRACT//INITIAL

i)  0 dealer  deposit/

total dealer deposit : nil oz

i) We had  0 dealer withdrawal

total dealer withdrawals: 0 oz

deposits:5//customer acct

i) Into Asahi 610,905.100 oz
ii) Into CNT 962.700 oz
iii) Into Delaware 12,091.763 oz
iv) Into JPMorgan 1,172,631.700 oz
v) Into Loomis 598,270.470 oz

total deposit 2,394,861.683 oz 

WITHDRAWALS 2

643,051.300 oz
Brinks

total withdrawal 643,051.300 oz

ADJUSTMENT one

customer to dealer JPMorgan: 643,848.820 oz

JPMorgan has a total silver weight: 143.151million oz/352.317million  or 40.24%

TOTAL REGISTERED SILVER: 74.131 MILLION OZ//.TOTAL REG + ELIGIBLE. 352.317 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JANUARY

silver open interest data:

FRONT MONTH OF JAN /2024 OI: 132 OPEN INTEREST FOR A GAIN OF 56 CONTRACT(S).

WE HAD A 70 CONTRACT ISSUANCE ON TUESDAY. THUS WE GAINED 126 CONTRACTS, THAT IS WE HAD A HUGE 126 CONTRACT QUEUE JUMP FOR 630,000 OZ

FEBRUARY SAW A GAIN 0F 28 CONTRACTS TO STAND AT 1764

MARCH SAW A LOSS OF 1648 CONTRACTS DOWN TO 119,636. THE FRONT ACTIVE DELIVERY MONTH OF MARCH ALSO IS NOT DECLINGING MUCH AND WE SHOULD ALSO HAVE A HUMDINGER OF A DELIVERY MONTH FOR MARCH.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 132 for 660,000 oz

CONFIRMED volume; ON TUESDAY 46,609 fair//

To calculate the number of silver ounces that will stand for delivery in JAN we take the total number of notices filed for the month so far at 2370x 5,000 oz = 11.850 MILLION oz 

to which we add the difference between the open interest for the front month of JAN (132) and the number of notices served upon today (132)x (5000 oz)

Thus the  standings for silver for the JAN 2025 contract month:  2370 Notices served so far) x 5000 oz + OI for the front month of JAN(132)minus number of notices served upon today (132)x 5000 oz equals silver standing for the JAN contract month equating to 11.850 MILLION OZ. 

 New total standing: 11.850 million oz.

There are 73.487 million oz of registered silver.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44.

Now that we have surpassed $28.40 the next big line in the sand for silver is $34.76. After that the moon

END

BOTH GLD AND SLV ARE MASSIVE FRAUDS!

GLD AND SLV INVENTORY LEVELS/

JAN 29  WITH GOLD DOWN $6.25 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 4.02 TONNES OF GOLD INTO THE THE GLD ///INVENTORY RESTS AT 861.04 TONNES

JAN 28  WITH GOLD UP $23.05 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 3.16 TONNES OF GOLD OUT OF THE GLD //

JAN 27  WITH GOLD DOWN $36.05 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 5.17 TONNES OF GOLD OUT OF THE GLD ///

JAN 24  WITH GOLD UP $16.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 5.17 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 864.19 TONNES

 JAN 23  WITH GOLD DOWN $1.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 2.30 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 869.36 TONNES

 JAN 22  WITH GOLD UP $15.15 ON THE DAY; MEGA HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE WITHDRAWAL OF 7.46 TONNES OF GOLD OUT OF THE GLD ///INVENTORY RESTS AT 871.66 TONNES

 JAN 20  WITH GOLD UP $35.30 ON THE DAY; MEGA HUGE CHANGES IN GOLD AT THE GLD:A MASSIVE DEPOSIT OF 10.34 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 879.12 TONNES

/JAN 17  WITH GOLD DOWN $9.50 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 3.74 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 868.78 TONNES

JAN 16  WITH GOLD UP $24.10 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: ///INVENTORY RESTS AT 872.52 TONNES

JAN 15  WITH GOLD UP $24.35 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD::A WITHDRAWAL OF 2.01 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 872.52 TONNES

JAN 14  WITH GOLD UP $9.40 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD::A WITHDRAWAL OF 2.29 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 874.53 TONNES

 JAN 13  WITH GOLD DOWN $27.75 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD::A DEPOSIT OF 5.74 TONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 876.82 TONNES

JAN 10  WITH GOLD UP $17.80 ON THE DAY; NO CHANGES IN GOLD AT THE GLD::A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 871.08 TONNES 

 JAN 9  WITH GOLD UP $13.85 ON THE DAY; NO CHANGES IN GOLD AT THE GLD::A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 871.08 TONNES

JAN 8  WITH GOLD UP $5.35 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD::A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD ///INVENTORY RESTS AT 871.08 TONNES

JAN 7  WITH GOLD DOWN $14.50 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:: ///INVENTORY RESTS AT 872.52 TONNES

JAN 6  WITH GOLD DOWN $4.90 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:: ///INVENTORY RESTS AT 872.52 TONNES

JAN 3  WITH GOLD DOWN $14.00 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:: ///INVENTORY RESTS AT 872.52 TONNES

JAN 2  WITH GOLD UP $29.40 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:: ///INVENTORY RESTS AT 872.52 TONNES

 DEC  31  WITH GOLD UP $20.60 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:: ///INVENTORY RESTS AT 872.52 TONNES

DEC  30  WITH GOLD DOWN $11.95 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 0.28 TONNES OF GOLD FROM THE GLD : ///INVENTORY RESTS AT 872.52 TONNES

DEC  27  WITH GOLD DOWN $17.10 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.15 TONNES OF GOLD FROM THE GLD : ///INVENTORY RESTS AT 872.80 TONNES

DEC  26  WITH GOLD UP $17.55 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: : ///INVENTORY RESTS AT 873.95 TONNES

DEC  24  WITH GOLD UP $6.10 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 3.45 TONNES OF GOLD OUT OF THE GLD. / // : .///INVENTORY RESTS AT 873.95 TONNES

 DEC  23  WITH GOLD DOWN $13,75 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A DEPOSIT OF 16.66 TONNES OF GOLD VAPOUR GOLD INTO THE GLD. / // : .///INVENTORY RESTS AT 877.40 TONNES

DEC  20  WITH GOLD UP $29,75 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 3.16 TONNES OF GOLD FROM THE GLD. / // : .///INVENTORY RESTS AT 860.74 TONNES

 DEC  19  WITH GOLD DOWN $45.00 ON THE DAY; SMALL CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF .29 TONNES OF GOLD FROM THE GLD. / // : .///INVENTORY RESTS AT 863.90 TONNES

DEC  18  WITH GOLD DOWN $8.40 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: / // : .///INVENTORY RESTS AT 864.19 TONNES

DEC  17  WITH GOLD DOWN $6.85 ON THE DAY; SMALL CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.23 TONNES INTO THE GLD / // : .///INVENTORY RESTS AT 864.19 TONNES

DEC  16  WITH GOLD DOWN $2.80 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 4.70 TONNES INTO THE GLD / // : .///INVENTORY RESTS AT 863.90 TONNES

 DEC  13  WITH GOLD DOWN $24.55 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 4.78 TONNES INTO THE GLD / // : .///INVENTORY RESTS AT 868.60 TONNES

DEC  12  WITH GOLD DOWN $34.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.59 TONNES INTO THE GLD / // : .///INVENTORY RESTS AT 873.38 TONNES

 DEC  11  WITH GOLD UP $29.75 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: // : .///INVENTORY RESTS AT 870.79 TONNES

 DEC  9  WITH GOLD UP $31.10 ON THE DAY; NO CHANGES IN GOLD AT THE GLD. // : .///INVENTORY RESTS AT 871.94 TONNES

GLD INVENTORY: 861.04 TONNES, TONIGHTS TOTAL

SILVER

jAN 29  WITH SILVER UP $0.34 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.639 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 453.252 MILLION OZ

jAN 28  WITH SILVER UP $0.34 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.821 MILLION OZ OUT OF THE SLV./. /

OZ

jAN 27  WITH SILVER DOWN $.61 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.64 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 457.395 MILLION OZ

JAN 24  WITH SILVER DOWN $.21 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 1.64 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 457.395 MILLION OZ

JAN 23  WITH SILVER DOWN $.41 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A MASSIVE WITHDRAWAL OF 4.738 MILLION OZ OUT OF THE SLV./. //INVENTORY AT SLV RESTS AT 459.035 MILLION OZ

JAN 22  WITH SILVER UP $.08 //SMALL CHANGES IN SILVER INVENTORY AT THE SLV : A DEPOSIT OF 0.721 MILLION OZ INTO THE SLV./. //INVENTORY AT SLV RESTS AT 464.043 MILLION OZ

JAN 20  WITH SILVER DOWN $.09 //NO CHANGES IN SILVER INVENTORY AT THE SLV : A WITHDRAWAL OF 1.568 MILLION OZ FROM THE SLV./. //INVENTORY AT SLV RESTS AT 463.315 MILLION OZ

JAN 17  WITH SILVER DOWN $.49 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV : A WITHDRAWAL OF 1.568 MILLION OZ FROM THE SLV./. //INVENTORY AT SLV RESTS AT 463.315 MILLION OZ

JAN 16  WITH SILVER UP $0.23 //NO CHANGES IN SILVER INVENTORY AT THE SLV: //INVENTORY AT SLV RESTS AT 464.863 MILLION OZ

JAN 15 WITH SILVER UP $0.79 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.745 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 464.863 MILLION OZ

JAN 14 WITH SILVER UP $0.15 //SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.228 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 460.218 MILLION OZ

JAN 13 WITH SILVER DOWN $0.69 //NO CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.637 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 459.990 MILLION OZ

JAN 10 WITH SILVER UP $0.19 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.484 MILLION OZ OUT OF THE SLV//INVENTORY AT SLV RESTS AT 459,353 MILLION OZ

JAN 9 WITH SILVER UP $0.08 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.484 MILLION OZ OUT OF THE SLV//INVENTORY AT SLV RESTS AT 459,353 MILLION OZ

 JAN 8 WITH SILVER DOWN $0.01 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.484 MILLION OZ OUT OF THE SLV//INVENTORY AT SLV RESTS AT 463.837 MILLION OZ

 JAN 7 WITH SILVER UP 48 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.709 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 463.837 MILLION OZ

JAN 6 WITH SILVER UP 38 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.709 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 463.837 MILLION OZ

JAN 3 WITH SILVER UP 17 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.709 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 463.837 MILLION OZ

JAN 2 WITH SILVER UP 45 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.616 MILLION OZ INTO THE SLV//INVENTORY AT SLV RESTS AT 462.128 MILLION OZ

DEC 31 WITH SILVER DOWN 14 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY AT SLV RESTS AT 460.512 MILLION OZ

DEC 30 WITH SILVER DOWN 39 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV: // A WITHDRAWAL OF 1.13 MILLION OZ FROM THE SLV//INVENTORY AT SLV RESTS AT 460.512 MILLION OZ

 DEC 27 WITH SILVER DOWN 24 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV: // //INVENTORY AT SLV RESTS AT 461.651 MILLION OZ

 DEC 24 WITH SILVER UP 2 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV// //INVENTORY AT SLV RESTS AT 463.747 MILLION OZ

DEC 23 WITH SILVER UP 19 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV/////A DEPOSIT OF 6.15 MILLION OZ INTO THE SLV //INVENTORY AT SLV RESTS AT 463.747 MILLION OZ

DEC 20 WITH SILVER UP 43 CENTS //SMALL CHANGES IN SILVER INVENTORY AT THE SLV/////A DEPOSIT OF 183,000 OZ INTO THE SLV //INVENTORY AT SLV RESTS AT 457.597 MILLION OZ

DEC 19 WITH SILVER DOWN 25 CENTS //NO CHANGES IN SILVER INVENTORY AT THE SLV///// //INVENTORY AT SLV RESTS AT 457.414 MILLION OZ

DEC 18 WITH SILVER DOWN 19 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1.094 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 457.414 MILLION OZ

DEC 17 WITH SILVER DOWN 12 CENTS //SMALL CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 0.456 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 458.052 MILLION OZ

DEC 16 WITH SILVER DOWN 0 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 4.84 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 458.052 MILLION OZ

DEC 13 WITH SILVER DOWN 46 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF .536 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 462.892 MILLION OZ

DEC 12 WITH SILVER DOWN 94 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 5.787 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 463.428 MILLION OZ

DEC 11 WITH SILVER UP 10 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 2.597 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 469.215 MILLION OZ

DEC 10 WITH SILVER DOWN 8 CENTS //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 1.868 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 471.812 MILLION OZ

DEC 9 WITH SILVER UP $0.91 //HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 1.367 MILLION OZ FROM THE SLV/// //INVENTORY AT SLV RESTS AT 473.680 MILLION OZ

CLOSING INVENTORY 453.252 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

END

2/ Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens

ALASDAIR MACLEOD….

3. CHRIS POWELL AND GATA DISPATCHES

Rush to stockpile gold in New York leads to London shortage

Submitted by admin on Wed, 2025-01-29 09:51 Section: Daily Dispatches

By Leslie Hook
Financial Times, London
Wednesday, January 29, 2025

A surge in gold shipments to the United States has led to a shortage of bullion in London, as traders amass an $82 billion stockpile in New York over fears of Trump administration tariffs.

The wait to withdraw bullion stored in the Bank of England’s vaults has risen from a few days to between four and eight weeks, according to people familiar with the process, as the central bank struggles to keep up with demand.

“People can’t get their hands on gold because so much has been shipped to New York, and the rest is stuck in the queue,” said one industry executive. “Liquidity in the London market has been diminished.”

The Bank of England declined to comment.

Since November’s U.S. election, gold traders and financial institutions have moved 393 metric tonnes into the vaults of the Comex commodity exchange in New York, driving its inventory levels up nearly 75% to 926 tonnes, the highest level since August 2022.

Total gold flows into the U.S. could be far higher than the Comex numbers reflect, according to market participants, because there are likely to have been additional shipments to private vaults in New York owned by HSBC and JPMorgan. The two banks declined to comment.

Traders say the shipments are intended to avoid tariffs on bullion that some fear could be introduced by President Donald Trump. …

… For the remainder of the report:

end

FW: Bank of England Delays Gold Delivery For Up to Eight Weeks

https://youtu.be/0KlQXJ9EuhY?si=zyRRe_uUoy3RWOkn <https://youtu.be/0KlQXJ9EuhY?si=zyRRe_uUoy3RWOkn>

4. ANDREW MAGUIRE A MUST MUST VIEW…YOUTUBE/KINESIS LIVE FROM THE VAULT 207

end

5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES: COMMODITY//

end

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING WEDNESDAY MORNING TUESDAY  NIGHT

SHANGHAI CLOSED

//Hang Seng CLOSED

// Nikkei CLOSED UP 397.91 OR 1.02%//Australia’s all ordinaries CLOSED UP 0.65%

//Chinese yuan (ONSHORE) CLOSED XXXX CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2711// Oil DOWN TO 73.45dollars per barrel for WTI and BRENT DOWN AT 77.10 Stocks in Europe OPENED ALL MOSTLY GREEN

ONSHORE USA/ YUAN TRADING XXXX LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING

WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS /WEDNESDAY MORNING.7:30 AM

ONSHORE YUAN:   CLOSED

OFFSHORE YUAN: DOWN TO 7.2711

SHANGHAI CLOSED CLOSED

HANG SENG CLOSED CLOSED

2. Nikkei closed UP 397.91 OR 1.02%

3. Europe stocks   SO FAR:  ALL MOSTLY GREEN

USA dollar INDEX UP TO  107.95 EURO FALLS TO 1.0402 DOWN 20 BASIS PT HEADING TO PARITY WITH USA

3b Japan 10 YR bond yield: FALLS TO. +1.195 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 155.36…… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE RE EMERGING OF THE YEN CARRY TRADE AGAIN AFTER DISASTROUS POLICY ISSUED BY UEDA

3c Nikkei now  ABOVE 17,000

3d USA/Yen rate now well ABOVE the important 120 barrier this morning

3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: XXX OFFSHORE: DOWN

3f Japan is to buy INFINITE  TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.

3g Oil DOWN for WTI and DOWN FOR DOWN this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.5435 Italian 10 Yr bond yield DOWN to 3.6277 //SPAIN 10 YR BOND YIELD DOWN TO 3.152

3i Greek 10 year bond yield DOWN TO 3.391

3j Gold at $2757.25 /Silver at: 30.64  1 am est) SILVER NEXT RESISTANCE LEVEL AT $50.00//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 55/100  roubles/dollar; ROUBLE AT 98.55

3m oil into the 73 dollar handle for WTI and  77 handle for Brent/

3n Higher foreign deposits moving out of China//  huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 155.36  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.195% STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING.

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.9066 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9431 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

USA 10 YR BOND YIELD: 4.512 DOWN 3 BASIS PTS…

USA 30 YR BOND YIELD: 4.768.DOWN 2 BASIS PTS/

USA 2 YR BOND YIELD:  4.199 DOWN 2 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 35.77…

10 YR UK BOND YIELD: 4.634 DOWN 2 PTS

10 YR CANADA BOND YIELD: 3.202 DOWN 4 BASIS PTS

5 YR CANADA BOND YIELD: 2.891 DOWN 4 PTS.

2a New York OPENING REPORT

Futures Flat Ahead Of Fed’s Dovish Pause, Tech Giant Earnings

Wednesday, Jan 29, 2025 – 08:24 AM

Futures are flat with Tech/Small-caps big higher as the market looks to recover from Monday’s tech plunge. As of 8:00am S&P futures are unchanged, erasing a modest earlier gain during the European session; Nasdaq futures extend their Tuesday rebound and rise 0.4% after rising 2.0% on Tuesday; Mag7 names are mixed (GOOGL +0.5%, AMZN +0.9%, AAPL -1%, MSFT flat, META +0.5%, NVDA -0.7% and TSLA -0.2%) with semis rallying but this may not mean the end of the Semis-to-Software rotation which is +10% this week. Europe’s Stoxx 600 index rose 0.6% after chip giant ASML soared 11% after order bookings beat estimates, spurring gains for semiconductor stocks. Bond yields are flat to down 2bps to 4.52% ahead of what is expected to be a dovish pause by the Fed today (full preview here). USD strength continues, given the likelihood of new tariffs announced this week or weekend. Commodities are mixed as Ags and Metals are bid. Looking to the day ahead, the main highlight will be the Federal Reserve’s policy decision, along with Chair Powell’s subsequent press conference, while the Bank of Canada will also be making their own policy decision. Data releases include December advance goods trade balance and wholesale inventories (at 8:30am ET). Finally, today’s earnings releases include tech giants Tesla, Microsoft and Meta.

In premarket trading, T-Mobile jumped 8% after reporting fourth-quarter results that beat analysts’ projections, benefiting from continued growth in wireless subscribers and home internet customers. Starbucks rose 2% after the coffee chain reported better-than-expected quarterly results, luring back lapsed customers with coffee-focused ads and by removing extra charges for nondairy milk. LendingClub plunged 21% after the operator of peer-to-peer loan website gave a first-quarter forecast that missed estimates. A Piper analyst said higher provisions drove a miss to his estimates. Here are some other notable movers:

• American Axle (AXL) slips 3% after entering a deal to combine with Dowlais. Shareholders of American Axle will own 51% of the combined company, with Dowlais shareholders controlling the rest.
• Danaher (DHR) falls 5% after the life-sciences firm posted quarterly profit that missed estimates.
• F5 Inc. (FFIV) jumps 14% after the network security company raised its forecast for full-year growth.
• Henry Schein (HSIC) rises 3% after KKR & Co. has taken a 12% strategic stake in the company.
• Manhattan Associates (MANH) tumbles 23% after the supply-chain software company gave a profit forecast for 2025 that disappointed.
• NEXTracker (NXT) surges 21% after the solar equipment maker boosted its earnings guidance for the full year.
• Packaging Corp. (PKG) falls 4% after the containerboard producer provided a disappointing first quarter profit forecast.
• Paragon 28 (FNA) climbs 10% after Zimmer Biomet Holdings agreed to buy the medical device company.
• Qorvo (QRVO) declines 6% after the semiconductor device company’s 2026 revenue forecast underwhelmed.
• Semiconductor-related stocks rise after chip-equipment maker ASML reported quarterly bookings well above analyst estimates, easing concerns over potentially weaker demand due to challenges at key clients including Samsung and Intel.
• Applied Materials (AMAT) +2%, Lam Research (LRCX) +3%, KLA Corp (KLAC) +3%
• Stride Inc. (LRN) gains 3% after the online education company boosted its year revenue forecast.
• VF Corp. (VFC), parent to brands including Vans, North Face and Timberland, rises 2% after reporting sales that beat expectations, a sign that its transformation plan is showing results.

It’s a busy day today when not only the Fed is expected to keep rates on hole in a “dovish pause” but we get three of the Mag 7 names report. Indeed, traders will be scouring results from Microsoft, Meta and Tesla later for signs of weakness after Chinese startup DeepSeek’s cheaper AI model rattled markets. While the Fed is widely expected to hold rates, Chair Jerome Powell is likely to be pressed on the inflationary impact of potential trade tariffs and other policies from President Donald Trump’s White House. See our preview here.

“I don’t think there’s any great desire for the Fed to become overly hawkish in their messaging, nor do I think they’re going to pre-commit to dovish loosening,” Guy Miller, chief strategist at Zurich Insurance Co., said. “They’ll say ‘look, we need a period to take stock of things.’

Traders have ratcheted up bullish bets in the hope that Powell signals a cut in March is firmly on the table. JPMorgan’s latest client survey released Tuesday shows the biggest net long position in US government debt in almost 15 years. Open interest in futures — or the amount of new risk held by traders — is increasing in 10-year note contracts. Meanwhile, central banks elsewhere remain on an easing path, with the Bank of Canada likely to reduce rates by a quarter point Wednesday. The European Central Bank is also expected to cut tomorrow.

While profits from the Magnificent Seven tech companies are still rising — and far outpacing the rest of the market — growth is projected to come in at the slowest pace in almost two years. After the DeepSeek news, Microsoft’s AI spending will be in tight focus when the company reports. The company is expected to update investors on its progress in selling artificial intelligence products — and the massive infrastructure buildout making that possible. Separately, Microsoft and OpenAI are investigating whether data output from OpenAI’s technology was obtained in an unauthorized manner by a group linked to DeepSeek, according to people familiar with the matter.

“DeepSeek was a welcome reminder that there are risks, but “the way for equities is still up,” Miller said. “Investors still have a buy-the-dip mentality.”

In Europe, the Stoxx 600 index rose 0.6% with tech leading gains, while luxury shares dropped after LVMH reported underwhelming sales compared to peers. European semiconductor stocks are soaring Wednesday after Dutch chip giant ASML booked more than twice as many orders as analysts expected in the fourth quarter, sending its stock 11% higher. Here are some of the biggest movers on Wednesday:

ASML shares soar 12% after the chip-equipment maker reported quarterly bookings well above analyst estimates, easing concerns over potentially weaker demand due to challenges at key clients including Samsung and Intel.

• Volvo gains as much as 6.9% after the Swedish truckmaker reported stronger-than-expected order intake in its 4Q report.
• Logitech shares jump as much as 9.4%, the most in nine months, after the Swiss computer and gaming accessory maker reported results that beat estimates and raised its guidance.
• WH Smith shares rise as much as 7.2% as investors welcome the retailer’s acceleration in like-for-like revenue growth in the key North America market.
• Dowlais shares jump as much as 12% after the automotive engineering firm recommended a deal with American Axle, priced at a 25% premium to yesterday’s closing price. Shares remain well below the offer price this morning, which analysts at Jefferies said may be deemed as disappointing.
• LVMH shares fall as much as 6.7%, trimming recent lofty gains, after the luxury-goods maker’s earnings underwhelmed compared with recent strong updates from peers. European luxury stocks decline as analysts say LVMH’s earnings failed to live up to expectations that had been raised in recent weeks following strong updates from peers.
• Remy Cointreau shares drop as much as 4.1% after the high-end spirits maker said that it expects a drop in full-year sales to come in at the lower end of its guidance range, as its US business still struggles with destocking as well as a high basis of comparison.
• SEB dropped 4.1% after the Swedish lender’s net profit missed estimates and dividend per share of the year was also below estimates.
• Akzo Nobel shares fall as much as 6.1% after the Dutch specialty chemicals company posted full-year results where its decorative paints division weighed on its fourth quarter earnings.
• Lonza shares drop as much as 3.4%, the most since Nov. 27, after the Swiss maker of drug ingredients reported results for the full year that was hurt by its capsules & health ingredients business.
• Continental shares fall as much as 1.9% after the German car parts manufacturer hosted a pre-close call late on Tuesday where it warned of a tough sales climate for its automotive unit, which it plans to spin off in 2025.

Earlier in the session Asian stocks gained, led by advances in Australia, Japan and India while most markets were shut for the Lunar New Year. The MSCI Asia Pacific Index rose as much as 0.5%, with Sony and Toyota among the biggest boosts. Most of the shares listed on the regional benchmark were not trading Wednesday. Australia’s main equity gauge climbed nearly 1%, as data showing cooler-than-expected inflation was seen paving the way for an interest-rate cut as soon as next month. Japanese shares advanced as the DeepSeek-driven tech selloff subsided, following a rebound in Nvidia and other US AI stocks overnight. Equities in India extended their rebound from recent selloffs, fueled by gains in bank stocks and shares of software exporters Infosys and Tata Consultancy Services.

In rates, treasuries inched higher ahead of the Fed decision, with US 10-year yields falling 1 bps to 4.52%. Gilts and bunds outperformed following German 10-year bond sale that had highest oversubscription rate in eight months on a reduced allotment; as a result German and UK 10-year borrowing costs falling 3-4 bps each. Ahead of Fed decision, no change is priced in, putting focus on the outlook for March, with around 7bp of easing priced in; investors have been leaning bullish into the meeting, including Monday’s rally where a wave of new long positions were added in Treasury futures

In FX, the Bloomberg Dollar Spot Index rises 0.1%. The Aussie dollar is the weakest of the G-10 currencies, falling 0.4% against the dollar after core inflation eased by more than expected. The Swedish krona weakens 0.1% after the Riksbank cut interest rates 25 bps as expected.

In commodities, oil prices decline, with WTI falling 0.9% to $73.10 a barrel. Spot gold is steady near $2,760/oz. Bitcoin rises 2% and is above $102,000.

Looking to the day ahead, and the main highlight will be the Federal Reserve’s policy decision, along with Chair Powell’s subsequent press conference. The Bank of Canada will also be making their own policy decision. Data releases include December advance goods trade balance and wholesale inventories (8:30am). Finally, today’s earnings releases include Tesla, Microsoft and Meta.

Market Snapshot

• S&P 500 futures little changed at 6,097.25
• STOXX Europe 600 up 0.4% to 533.93
• MXAP up 0.4% to 183.29
• MXAPJ up 0.1% to 574.83
• Nikkei up 1.0% to 39,414.78
• Topix up 0.7% to 2,775.59
• Hang Seng Index up 0.1% to 20,225.11
• Shanghai Composite little changed at 3,250.60
• Sensex up 0.8% to 76,507.72
• Australia S&P/ASX 200 up 0.6% to 8,447.01
• Kospi up 0.8% to 2,536.80
• German 10Y yield little changed at 2.54%
• Euro down 0.1% to $1.0416
• Brent Futures down 0.8% to $76.85/bbl
• Brent Futures down 0.8% to $76.85/bbl
• Gold spot down 0.0% to $2,763.16
• US Dollar Index up 0.13% to 108.00

Top Overnight News

• US DOGE said it is saving the federal government about USD 1bln per day but added that the federal government savings needs to increase to over USD 3bln per day.
• US judge temporarily paused the Trump administration’s freeze of federal loans and grants with a pause to Trump’s halt on funding of open programs to last until February 3rd, while it was also reported that a state attorney general group sued the Trump administration after earlier saying it would challenge the federal funding pause.
• OpenAI said Chinese companies are ‘constantly’ trying to distil US AI models, while it engages in ‘countermeasures’ to protect its intellectual property and will work with the US government to protect US technology. It was separately reported that Microsoft (MSFT) is probing if a DeepSeek-linked group improperly obtained OpenAI data, while OpenAI said it has found evidence that Chinese artificial intelligence start-up DeepSeek used the US company’s proprietary models to train its own open-source competitor, according to FT.
• Japan’s Advantest on Wednesday hiked its full year operating profit forecast by 37% due to strong demand for its testing tools for chips used in artificial intelligence tasks. They highlighted continued growth in tester demand for AI related, high performance semiconductors. Advantest forecasts operating income of 226 billion yen ($1.46 billion) in the financial year ending March 31. RTRS
• ASML +7% (ADR kind) on a BIG bookings beat (€7.1bn) + upbeat commentary (HE of FY doable if AI remains strong).. As it relates to DeepSeek… ASML said “Anyone that lowers cost is good news for ASML … Lower cost means AI can be used in more applications, more applications mean more chips.” (H/T Peter Callahan, Peter Bartlett)
• Traders are betting the ECB will have to ease more aggressively amid political turmoil and risk of US tariffs. Markets are positioning for the euro to weaken and for bonds to gain. A 25-bp cut is widely expected tomorrow. BBG
• Czech National Bank wants to put billions of euros of its reserves into bitcoin (this would represent the first time a western central bank purchases crypto). FT
• Sweden’s central bank lowered its key interest rate on Wednesday, with policymakers signaling they might be finished with their monetary policy easing. WSJ
• US crude stockpiles rose by 2.86 million barrels last week, the API is said to have reported. That would be the first increase in 10 weeks if confirmed by the EIA today. Gasoline supplies also gained. BBG
• Alibaba launched a new AI model (a new version of its Qwen 2.5 model) it claims is superior to DeepSeek’s V3 and Meta’s Llama. BBG
• Apple, SpaceX and T-Mobile have been working to add support for Starlink to the iPhone. BBG

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded higher following the positive handover from Wall St where tech clawed back some of the DeepSeek-related losses, although the conditions were quiet in Asia amid mass closures for the Chinese New Year. ASX 200 was led higher by outperformance in tech and utilities, while softer-than-expected Australian CPI data for Q4 also spurred increased rate cut bets for the RBA’s meeting in February (cut now priced at around 76% vs. 64% pre-release). Nikkei 225 took impetus from US counterparts but with gains capped amid few fresh drivers and after outdated BoJ minutes.

Top Asian News

• BoJ December meeting minutes stated members agreed inflation expectations are heightening moderately and agreed the BoJ should raise the interest rate if the economy and prices move in line with forecasts. Many members said the economy and prices are moving in line with forecasts and agreed the BoJ must decide the timing for raising rates by looking carefully at various data and information. Furthermore, members also agreed they wanted a bit more data on wage momentum and saw uncertainty over the next US administration’s economic policies.
• US State Department spokesperson said part of Secretary of State Rubio’s trip to Central America is about countering China, according to Fox Business.

European bourses (Stoxx 600 +0.5%) began the European session mostly firmer and traded rangebound, at elevated levels throughout the morning. The CAC 40 -0.1% is the clear underperformer in Europe today, with the index weighed on by post-earning losses in LVMH (-5%); the AEX is the day’s outperformer, with sentiment in the Tech sector lifted following blockbuster results in ASML (+8.7%). European sectors hold a slight positive bias. Tech is by far and away the clear outperformer in today’s session, lifted by post-earning strength in ASML (+11%). The Co. reported strong rev. for Q4, and its Bookings were exceptionally strong; it came in well above expectations at EUR 7.09bln (exp. 3.53bln). It also raised its Q1 net sales guidance above consensus. Consumer Products is underperforming today, weighed on by losses in LVMH (-6%). The Co. beat on its FY Revenue figure, though its Net Profit fell short of expectations. The Q4 figures were a little more positive, which generally topped expectations.

Top European News

• Swedish Riksbank Rate 2.25% vs. Exp. 2.25% (Prev. 2.5%); forecast for the policy rate made in December essentially holds, but the Executive Board is prepared to act if the outlook for inflation and economic activity changes.
• Riksbank Governor Thedeen says best judgement is that rates have reached the bottom, but the outlook is genuinely uncertain.
• German equipment investment seen growing 1.1% in 2025, according to annual government economic report cited by Reuters. Expects exports to decline by 0.3% in 2025. Expects imports to grow by 1.9% in 2025.
• UK Chancellor Reeves says the government has begun to turn things around. Solution is for the government to systematically remove barriers. Will work with the US to deepen the UK’s economic relationship in the months and years ahead. Will prioritise proposals with the EU that are consistent with Labour’s manifesto. Business and Trade minister to travel to India to resume talks on a trade deal

Earnings Summary

• ASML (ASML NA) +8.7%, Earnings Call at 14:00GMT/09:00EST: Q4 metrics beat, Bookings stood out at EUR 7.09bln (exp. 3.53bln). Q1 Guidance: Net Sales between 7.5-8.0bln (exp. 7.25bln), Gross Margin between 52-53% (exp. 51.2%). CEO: Revenue “was primarily driven by additional upgrades. We also recognized revenue on two High NA EUV systems.” & “Consistent with our view from the last quarter, the growth in artificial intelligence is the key driver for growth in our industry”. CEO/CFO: still very bullish; seeing increased demand for advanced technology in logic and DRAM markets, continues to invest in advanced EUV and mainstream DUV technologies. ASML (ASML NA) on DeepSeek, says anything that drives cost down is good news for ASML; AI cost reduction will lead to increased use and higher volumes
• Akzo Nobel (AKZA NA) -4.9%: Q4 metrics mixed, FY24 slight beat. FY25 guidance slightly short. Co. does not expect a significant market rebound in 2025.
• Remy Cointreau (RCO FP) -5.8%: Q3 & 9-month sales beat. FY guidance confirmed at lower-end of range.
• Logitech (LOGN SW) +6.2%: Q3 metrics beat. FY25 guidance lifted. Gaming sales near COVID peaks. Notable progress in China.
• Volvo (VOLVB SS) +6.9%: Q4 mixed. Cuts China truck market outlook, but notes that North America is gradually improving.
• Fresnillo (FRES LN) Production Report, Q4: Another solid year of production, with gold production ahead of guidance, whilst “Lead and zinc production were also up strongly over the year again”.

FX

• DXY is marginally higher with the USD stronger vs. most peers (ex-JPY). Today is of course Fed day which is set to see the FOMC pause its rate cutting cycle. As it stands, markets currently price around 50bps of loosening by year-end. Elsewhere, markets remain alive to the risk of potential tariff announcements by the Trump admin. DXY is currently oscillating around the 108 mark and briefly matched the top end of Tuesday’s 107.68-108.05 range.
• EUR is now softer vs. the USD after a bout of selling pressure early doors alongside a disappointing outturn for German GfK Consumer Sentiment. Greater focus lies on tomorrow’s ECB policy announcement and the looming threat of tariffs from the Trump administration. As it stands, the odds of a 25bps cut in March are at around 80% with a total of 90bps of loosening seen by year-end. EUR/USD briefly slipped below Tuesday’s and the 24th Jan lows at 1.0414.
• JPY is slightly firmer vs. the USD. BoJ Minutes from the December meeting did little to shift the dial given that there was a more recent meeting last week where the central bank delivered a widely expected 25bps rate hike. Furthermore, JPY was unreactive to news that Japanese Finance Minister Kato held a videoconference with new US Treasury Secretary Bessent in which they confirmed close cooperation on FX. USD/JPY is currently within Tuesday’s 154.45-155.97 range and holding above its 50DMA at 154.86.
• GBP is a touch softer vs. the USD but mildly firmer vs. the EUR with fresh macro drivers for the UK on the light side. On today’s docket, BoE Governor Bailey is to attend the TSC hearing on the November Financial Stability Report at 14:15GMT. Cable currently sits towards the lower end of yesterday’s 1.2415-98 range. Chancellor Reeves in her “Kickstart Economic Growth” press conference, said “the government has begun to turn things around”. She set forth a few additional investments, but steered clear of any major announcements; as such, the Pound was little changed.
• Antipodeans are both on the backfoot vs. the USD for a third consecutive session. AUD was hampered overnight by soft Australian CPI metrics in which all figures for Q4 printed softer-than-expected and resulted in increased bets for a cut at the next RBA meeting (cut now priced at around 76% vs. 64% pre-release).
• SEK was trivially softer against the EUR post-Riksbank, where a 25bps cut was delivered as expected. The accompanying statement noted that “the forecast for the policy rate made in December essentially holds, but the Executive Board is prepared to act if the outlook for inflation and economic activity changes”. Since, the Governor has said it looks like they are at the bottom in rates but the outlook is uncertain, a remark which has lifted the SEK.
• CAD marginally softer vs. the USD in the run up to today’s BoC rate decision which is set to see policymakers pull the trigger on another 25bps rate reduction, bringing the total quantum of cuts to 200bps for the current cycle

Fixed Income

• USTs are firmer into the FOMC. Derived support from a strong 7yr Note auction on Tuesday, an outing which followed mixed results across Monday’s lines. As it stands, USTs are at a 109-09 peak which is just below Monday’s 109-12 best. If the move continues then there is a bit of a gap until the 110-00 mark and then the 110-03+ peak from mid-December.
• Bunds are moving in tandem with USTs and as such find themselves at a 131.81 peak, stopping shy of the figure and then Monday’s 132.14 best. A 2035 auction garnered decent demand, which sparked some very modest upside.
• OATs are firmer, but modestly underperforming core peers. Underperformance which is on account of increasing attention on tensions between the French PM and the Socialist party. Tensions which stemmed from the PM’s remarks around immigration at the start of the week. In response, Socialist member Brun said they have suspended negotiations with the PM on the budget.
• Gilts are directionally in-fitting with the above; the Green Gilt outing was a little weaker than the prior, but b/c remained above 3x. Into the Chancellor Reeves “Kickstart Economic Growth” press conference, Gilts traded near highs at 92.47. The presser, thus far has been as expected, and as such has spurred little move in Gilts; UK paper has continued its upward bias to a current 92.54 peak.
• UK DMO announces new March 2035 Gilt syndication; transaction planned to take place in the week beginning 10th Feb, subject to demand and market condition.
• UK sells GBP 0.875% 2033 Green Gilt: b/c 3.1x (prev. 3.55x), avg. yield 4.473% (prev. 3.731%) & tail 0.7bp (prev. 0.9bp).
• Germany sells EUR 3.439bln vs exp. EUR 4.5bln 2.50% 2035 Bund: b/c 2.8x (prev. 2.12x), average yield 2.54% (prev. 2.51%) & retention 23.58% (prev. 24.4%)

Commodities

• Softer trade across the crude oil complex amid a firmer dollar and following a choppy session yesterday. Desks suggest the overall weakness in the oil market seen over the past few sessions likely emanate from US prepares to impose tariffs on imports from Canada, Mexico and China from Saturday, with the WTI discount to Brent also narrowing as higher tariffs could tighten US supply. Brent near the lower end of a USD 75.69-76.65/bbl parameter.
• Mixed/flat trade across precious metals in the run-up to the FOMC policy announcement and Fed Chair Powell’s press conference later today. Spot gold resides in a narrow USD 2,757.46-2,766.26/oz range.
• Mixed trade across base metals with upside hampered by the firmer dollar and cautious sentiment amid Trump’s ongoing tariff threats, as also cited by several desks. 3M LME copper dipped under USD 9,000/t and resides in a USD 8,961.00-9,023.23/t range at the time of writing.
• Private inventory data (bbls): Crude +2.9mln (exp. +3.2mln), Distillate -3.8mln (exp. -2.3mln), Gasoline +1.9mln (exp. +1.3mln) Cushing -0.1mln
• Peruvian Economy Minister says the country has to open more copper mines to take advantage of growth; Anglo American (AAL LN) committed to resolving water issues in northern city before moving ahead with USD 2bln copper-gold project.

Geopolitics: Middle East

• “Israeli army: monitoring a march that penetrated the airspace from Egyptian territory in an attempt to smuggle weapons”, according to Sky News Arabia.
• “Iranian Foreign Minister Abbas Araqchi: We have not received any message from Trump regarding the negotiations”, according to Sky News Arabia.
• US Secretary of State Rubio reiterated in a call with the Egyptian Foreign Minister the importance of close cooperation to advance post-conflict planning to ensure Hamas can never govern Gaza or threaten Israel again.
• Russia and Syria are to hold further talks on Russian military bases in Syria, while there are no changes so far to the presence of Russian military bases in Syria, according to Russia’s Deputy Foreign Minister cited by TASS.

Geopolitics: Ukraine

• Ukrainian President Zelensky commented that Ukraine needs broader guarantees and that Russian President Putin is not afraid of Europe, while he added that Ukraine cannot recognise the Russian occupation.
• Ukrainian drone attack at an industrial facility in Russia’s Nizhny Novgorod region sparked a fire at an oil refinery, according to Russian Telegram news outlets.
• Russia’s Smolensk regional Governor said Russian air defence systems destroyed a Ukrainian drone attempting to attack a nuclear power facility in the Smolensk region, while it was later reported that the Smolensk nuclear power plant is operating in normal mode after a drone attack on the region, according to RIA.
• EU is proposing new Russian sanctions including an aluminium ban that would phase in over one year, while it also proposes new measures against Russian banks and dark fleet tankers, according to Bloomberg.

Geopolitics: Other

• North Korean leader Kim inspected a nuclear material production base and called for bolstering nuclear forces this year, as well as boosting production of weapons-grade nuclear materials, according to KCNA. It was separately reported that an NSC spokesperson said US President Trump is to pursue a complete denuclearisation of North Korea, according to Yonhap.
• Estonia’s Defence Minister says Shipping firms may need to pay a fee to use Baltic Sea to cover cost of protecting undersea cables.

US Event Calendar

• 07:00: Jan. MBA Mortgage Applications -2.0%, prior 0.1%
• 08:30: Dec. Retail Inventories MoM, est. 0.2%, prior 0.3%
• 08:30: Dec. Wholesale Inventories MoM, est. 0.2%, prior -0.2%
• 08:30: Dec. Advance Goods Trade Balance, est. -$105.5b, prior -$102.9b
• 14:00: Jan. FOMC Rate Decision

DB’s Jim Reid concludes the overnight wrap

After the tech-led slump on Monday morning, markets continued to unwind those moves over the last 24 hours, with little sign of broader contagion from tech stocks to the rest of the market. That meant the S&P 500 recovered +0.92%, bringing the index back within 1% of its all-time high. And if you consider that S&P 500 futures were down -3% on Monday at the height of the slump, the index has effectively now unwound the bulk of that initial selloff. Tech stocks led the recovery, with the NASDAQ (+2.03%) and the Mag-7 (+2.70%) reversing most of Monday’s decline, whilst in Europe the STOXX 600 (+0.36%) and the DAX (+0.70%) even managed to hit another record high. So in terms of the headline moves, it’s clear that investors are feeling more optimistic, and we’re not seeing the sort of repeated selloffs that happened when the dot com bubble began to burst in early 2000.

That said, even as most indices posted a decent advance, it was far from a universally rosy picture. For instance, 70% of stocks within S&P 500 were actually lower on the day, with the equal-weighted version of the index down -0.47% as defensive stocks underperformed. And whilst all of the Mag-7 moved higher, semiconductor stocks were still feeling the aftershocks of Monday’s slump. Indeed, the Philadelphia Semiconductor Index (+1.11%) only pared back a fraction of its -9.15% slump on Monday. And even though Nvidia bounced back +8.93%, that’s still less than half of its -19.56% decline over the previous two sessions. So it’s clear there are still a lot of jitters, not least given the growing comparisons being made to the dot com bubble. However, it’s worth noting that when the dot com bubble began to burst from March 2000, the NASDAQ slumped by more than a third in the space of just over a month, so it was on a scale well beyond anything we’ve seen today. We should get plenty more on the tech side later, as there are earnings announcements from Tesla, Microsoft and Meta after the close tonight, ahead of Apple’s announcement tomorrow.

Shortly before those earnings announcements, today will also bring the Federal Reserve’s first policy decision of 2025, along with Chair Powell’s subsequent press conference. For the headline decision, it’s widely expected the Fed will keep rates on hold, ending a run of 3 consecutive rate cuts since September. That follows on from a hawkish rate cut in December, where they upgraded their inflation forecasts and only signalled two further cuts in their dot plot for 2025, which was fewer than expected. Indeed, the S&P 500 slumped by -2.95% that day, which was its second-biggest decline in the last two years, so the extent of their hawkishness came as a major surprise for markets. For today, our US economists are also anticipating the Fed will stay on hold, but think they’ll only provide limited guidance about upcoming decisions. As it stands this morning, market pricing is broadly in line with that dot plot for 2025, with futures pricing in 51bps worth of cuts by the December meeting. For more info, see our economists’ full preview here.

Ahead of the Fed, Treasuries largely held their ground yesterday. Initially, the pickup in equities had seen 10yr Treasury yields move +4bps high intra-day, as investors became less concerned that an equity correction and negative wealth effects would lead to a broader slowdown in consumer spending. However, this move reversed later on, in part thanks to a decent 7yr auction, with 10yr yields closing -0.2bps lower at 4.53%, their lowest level since Christmas. Similarly, 2yr yields (-0.2bps to 4.20%) fell to their lowest since December 12, before the last Fed meeting.

Over in Europe, the focus has also been on central banks ahead of the ECB’s decision tomorrow, and unlike the Fed, they’re widely expected to deliver another 25bp cut, taking their deposit rate down to 2.75%. We also received the ECB’s latest Bank Lending Survey yesterday, which showed that credit standards for firms tightened in Q4, with a net +7% reporting tighter credit standards, the highest in a year. In the meantime, sovereign bonds moved broadly in line with their US counterparts, with yields on 10yr bunds (+3.1bps) and OATs (+2.4bps) both moving higher. Yields on 10yr BTPs (+2.7bps) also saw a sharp move up towards the end of the session, which came after Italy’s PM Giorgia Meloni said she’d received a notice of investigation by prosecutors.

Overnight in Asia, that positive momentum has continued in markets, with gains for the Nikkei (+0.76%) and the S&P/ASX 200 (+0.57%), although several markets are closed for holidays, including in China and South Korea. Otherwise though, there’s been a rally in Australian government bonds after their CPI print for Q4 was a bit softer than expected, falling to +2.4% last quarter (vs. +2.5% expected). That was seen as raising the likelihood of a rate cut from the RBA in February, and 10yr government bond yields are down -4.5bps this morning. That’s also helped weaken the Australian Dollar, which is down -0.13% against the US Dollar. Looking forward, futures suggest that positive momentum should continue, with those on the S&P 500 (+0.01%) and the NADSAQ 100 (+0.09%) pointing modestly higher.

Looking at yesterday’s data releases, the US Conference Board’s consumer confidence indicator fell by more than expected in January, moving down to a four-month low of 104.1 (vs. 105.7 expected). The labour market indicators also weakened, and the difference between those saying jobs were plentiful and hard to get fell to its lowest level in four months.

To the day ahead now, and the main highlight will be the Federal Reserve’s policy decision, along with Chair Powell’s subsequent press conference. The Bank of Canada will also be making their own policy decision. Data releases include the Euro Area M3 money supply for December. Finally, today’s earnings releases include Tesla, Microsoft and Meta.

end

2B) EUROPEAN REPORT

USD firmer, CAD undecisive into policy decisions, blockbuster ASML results lift tech – Newsquawk US Market Open

Wednesday, Jan 29, 2025 – 05:51 AM

• European bourses mostly firmer, with Tech surging after blockbuster ASML bookings; NQ slightly outperforms.
• USD is a little firmer ahead of the FOMC, CAD awaits BoC, AUD softer post-CPI.
• Bonds are bid into the FOMC. BTPs & OATs attentive to domestic matters.
• Crude slides and metals trade mixed ahead of FOMC.
• Looking ahead, US Advance Goods Trade Balance, NZ Trade Balance, Fed, BoC, & BCB Policy Announcements Speakers including Fed Chair Powell, BoC’s Macklem & Rogers, BoE Governor Bailey, Earnings from Tesla, Meta, Microsoft, IBM, ServiceNow, T-Mobile, Danaher, General Dynamics & VF Corp.

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EUROPEAN TRADE

EQUITIES

• European bourses (Stoxx 600 +0.5%) began the European session mostly firmer and traded rangebound, at elevated levels throughout the morning. The CAC 40 -0.1% is the clear underperformer in Europe today, with the index weighed on by post-earning losses in LVMH (-5%); the AEX is the day’s outperformer, with sentiment in the Tech sector lifted following blockbuster results in ASML (+8.7%).
• European sectors hold a slight positive bias. Tech is by far and away the clear outperformer in today’s session, lifted by post-earning strength in ASML (+11%). The Co. reported strong rev. for Q4, and its Bookings were exceptionally strong; it came in well above expectations at EUR 7.09bln (exp. 3.53bln). It also raised its Q1 net sales guidance above consensus. Consumer Products is underperforming today, weighed on by losses in LVMH (-6%). The Co. beat on its FY Revenue figure, though its Net Profit fell short of expectations. The Q4 figures were a little more positive, which generally topped expectations.
• US equity futures are modestly firmer, but with slight outperformance in the tech-heavy NQ +0.4%, which is taking impetus from the significant strength in the European tech sector, following strong results from ASML.
• Norwegian Sovereign Wealth fund CEO says “the good returns may not continue”. Not made any major changed after Monday’s tech fall, have a small underweight in tech stocks. Do not have a strong view on share price of NVIDIA. Have no plans to pull out of Tesla (TSLA)
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

EARNINGS SUMMARY

• ASML (ASML NA) +8.7%, Earnings Call at 14:00GMT/09:00EST: Q4 metrics beat, Bookings stood out at EUR 7.09bln (exp. 3.53bln). Q1 Guidance: Net Sales between 7.5-8.0bln (exp. 7.25bln), Gross Margin between 52-53% (exp. 51.2%). CEO: Revenue “was primarily driven by additional upgrades. We also recognized revenue on two High NA EUV systems.” & “Consistent with our view from the last quarter, the growth in artificial intelligence is the key driver for growth in our industry”. CEO/CFO: still very bullish; seeing increased demand for advanced technology in logic and DRAM markets, continues to invest in advanced EUV and mainstream DUV technologies. Click for more commentary.. ASML (ASML NA) on DeepSeek, says anything that drives cost down is good news for ASML; AI cost reduction will lead to increased use and higher volumes
• Akzo Nobel (AKZA NA) -4.9%: Q4 metrics mixed, FY24 slight beat. FY25 guidance slightly short. Co. does not expect a significant market rebound in 2025.
• Remy Cointreau (RCO FP) -5.8%: Q3 & 9-month sales beat. FY guidance confirmed at lower-end of range.
• Logitech (LOGN SW) +6.2%: Q3 metrics beat. FY25 guidance lifted. Gaming sales near COVID peaks. Notable progress in China.
• Volvo (VOLVB SS) +6.9%: Q4 mixed. Cuts China truck market outlook, but notes that North America is gradually improving.
• Fresnillo (FRES LN) Production Report, Q4: Another solid year of production, with gold production ahead of guidance, whilst “Lead and zinc production were also up strongly over the year again”.

FX

• DXY is marginally higher with the USD stronger vs. most peers (ex-JPY). Today is of course Fed day which is set to see the FOMC pause its rate cutting cycle. As it stands, markets currently price around 50bps of loosening by year-end. Elsewhere, markets remain alive to the risk of potential tariff announcements by the Trump admin. DXY is currently oscillating around the 108 mark and briefly matched the top end of Tuesday’s 107.68-108.05 range.
• EUR is now softer vs. the USD after a bout of selling pressure early doors alongside a disappointing outturn for German GfK Consumer Sentiment. Greater focus lies on tomorrow’s ECB policy announcement and the looming threat of tariffs from the Trump administration. As it stands, the odds of a 25bps cut in March are at around 80% with a total of 90bps of loosening seen by year-end. EUR/USD briefly slipped below Tuesday’s and the 24th Jan lows at 1.0414.
• JPY is slightly firmer vs. the USD. BoJ Minutes from the December meeting did little to shift the dial given that there was a more recent meeting last week where the central bank delivered a widely expected 25bps rate hike. Furthermore, JPY was unreactive to news that Japanese Finance Minister Kato held a videoconference with new US Treasury Secretary Bessent in which they confirmed close cooperation on FX. USD/JPY is currently within Tuesday’s 154.45-155.97 range and holding above its 50DMA at 154.86.
• GBP is a touch softer vs. the USD but mildly firmer vs. the EUR with fresh macro drivers for the UK on the light side. On today’s docket, BoE Governor Bailey is to attend the TSC hearing on the November Financial Stability Report at 14:15GMT. Cable currently sits towards the lower end of yesterday’s 1.2415-98 range. Chancellor Reeves in her “Kickstart Economic Growth” press conference, said “the government has begun to turn things around”. She set forth a few additional investments, but steered clear of any major announcements; as such, the Pound was little changed.
• Antipodeans are both on the backfoot vs. the USD for a third consecutive session. AUD was hampered overnight by soft Australian CPI metrics in which all figures for Q4 printed softer-than-expected and resulted in increased bets for a cut at the next RBA meeting (cut now priced at around 76% vs. 64% pre-release).
• SEK was trivially softer against the EUR post-Riksbank, where a 25bps cut was delivered as expected. The accompanying statement noted that “the forecast for the policy rate made in December essentially holds, but the Executive Board is prepared to act if the outlook for inflation and economic activity changes”. Since, the Governor has said it looks like they are at the bottom in rates but the outlook is uncertain, a remark which has lifted the SEK.
• CAD marginally softer vs. the USD in the run up to today’s BoC rate decision which is set to see policymakers pull the trigger on another 25bps rate reduction, bringing the total quantum of cuts to 200bps for the current cycle.
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs are firmer into the FOMC. Derived support from a strong 7yr Note auction on Tuesday, an outing which followed mixed results across Monday’s lines. As it stands, USTs are at a 109-09 peak which is just below Monday’s 109-12 best. If the move continues then there is a bit of a gap until the 110-00 mark and then the 110-03+ peak from mid-December.
• Bunds are moving in tandem with USTs and as such find themselves at a 131.81 peak, stopping shy of the figure and then Monday’s 132.14 best. A 2035 auction garnered decent demand, which sparked some very modest upside.
• OATs are firmer, but modestly underperforming core peers. Underperformance which is on account of increasing attention on tensions between the French PM and the Socialist party. Tensions which stemmed from the PM’s remarks around immigration at the start of the week. In response, Socialist member Brun said they have suspended negotiations with the PM on the budget.
• Gilts are directionally in-fitting with the above; the Green Gilt outing was a little weaker than the prior, but b/c remained above 3x. Into the Chancellor Reeves “Kickstart Economic Growth” press conference, Gilts traded near highs at 92.47. The presser, thus far has been as expected, and as such has spurred little move in Gilts; UK paper has continued its upward bias to a current 92.54 peak.
• UK DMO announces new March 2035 Gilt syndication; transaction planned to take place in the week beginning 10th Feb, subject to demand and market condition.
• UK sells GBP 0.875% 2033 Green Gilt: b/c 3.1x (prev. 3.55x), avg. yield 4.473% (prev. 3.731%) & tail 0.7bp (prev. 0.9bp).
• Germany sells EUR 3.439bln vs exp. EUR 4.5bln 2.50% 2035 Bund: b/c 2.8x (prev. 2.12x), average yield 2.54% (prev. 2.51%) & retention 23.58% (prev. 24.4%)
• Click for a detailed summary

COMMODITIES

• Softer trade across the crude oil complex amid a firmer dollar and following a choppy session yesterday. Desks suggest the overall weakness in the oil market seen over the past few sessions likely emanate from US prepares to impose tariffs on imports from Canada, Mexico and China from Saturday, with the WTI discount to Brent also narrowing as higher tariffs could tighten US supply. Brent near the lower end of a USD 75.69-76.65/bbl parameter.
• Mixed/flat trade across precious metals in the run-up to the FOMC policy announcement and Fed Chair Powell’s press conference later today. Spot gold resides in a narrow USD 2,757.46-2,766.26/oz range.
• Mixed trade across base metals with upside hampered by the firmer dollar and cautious sentiment amid Trump’s ongoing tariff threats, as also cited by several desks. 3M LME copper dipped under USD 9,000/t and resides in a USD 8,961.00-9,023.23/t range at the time of writing.
• Private inventory data (bbls): Crude +2.9mln (exp. +3.2mln), Distillate -3.8mln (exp. -2.3mln), Gasoline +1.9mln (exp. +1.3mln) Cushing -0.1mln
• Peruvian Economy Minister says the country has to open more copper mines to take advantage of growth; Anglo American (AAL LN) committed to resolving water issues in northern city before moving ahead with USD 2bln copper-gold project.
• Click for a detailed summary

NOTABLE DATA RECAP

• EU Money-M3 Annual Growth (Dec) 3.5% vs. Exp. 3.8% (Prev. 3.8%); Loans to Non-Fin (Dec) 1.5% (Prev. 1.0%); Loans to Households (Dec) 1.1% (Prev. 0.9%)
• Italian Consumer Confidence (Jan) 98.2 vs. Exp. 96.0 (Prev. 96.3); Manufacturing Business Confidence (Jan) 86.8 vs. Exp. 85.5 (Prev. 85.8, Rev. 85.9)
• Swiss Investor Sentiment (Jan) 17.7 (Prev. -20.0)

NOTABLE EUROPEAN HEADLINES

• Swedish Riksbank Rate 2.25% vs. Exp. 2.25% (Prev. 2.5%); forecast for the policy rate made in December essentially holds, but the Executive Board is prepared to act if the outlook for inflation and economic activity changes. Click for details
• Riksbank Governor Thedeen says best judgement is that rates have reached the bottom, but the outlook is genuinely uncertain.
• German equipment investment seen growing 1.1% in 2025, according to annual government economic report cited by Reuters. Expects exports to decline by 0.3% in 2025. Expects imports to grow by 1.9% in 2025.
• UK Chancellor Reeves says the government has begun to turn things around. Solution is for the government to systematically remove barriers. Will work with the US to deepen the UK’s economic relationship in the months and years ahead. Will prioritise proposals with the EU that are consistent with Labour’s manifesto. Business and Trade minister to travel to India to resume talks on a trade deal. Click for details.

NOTABLE US HEADLINES

• US DOGE said it is saving the federal government about USD 1bln per day but added that the federal government savings needs to increase to over USD 3bln per day.
• US judge temporarily paused the Trump administration’s freeze of federal loans and grants with a pause to Trump’s halt on funding of open programs to last until February 3rd, while it was also reported that a state attorney general group sued the Trump administration after earlier saying it would challenge the federal funding pause.
• OpenAI said Chinese companies are ‘constantly’ trying to distil US AI models, while it engages in ‘countermeasures’ to protect its intellectual property and will work with the US government to protect US technology. It was separately reported that Microsoft (MSFT) is probing if a DeepSeek-linked group improperly obtained OpenAI data, while OpenAI said it has found evidence that Chinese artificial intelligence start-up DeepSeek used the US company’s proprietary models to train its own open-source competitor, according to FT.

GEOPOLITICS

MIDDLE EAST

• “Israeli army: monitoring a march that penetrated the airspace from Egyptian territory in an attempt to smuggle weapons”, according to Sky News Arabia.
• “Iranian Foreign Minister Abbas Araqchi: We have not received any message from Trump regarding the negotiations”, according to Sky News Arabia.
• US Secretary of State Rubio reiterated in a call with the Egyptian Foreign Minister the importance of close cooperation to advance post-conflict planning to ensure Hamas can never govern Gaza or threaten Israel again.
• Russia and Syria are to hold further talks on Russian military bases in Syria, while there are no changes so far to the presence of Russian military bases in Syria, according to Russia’s Deputy Foreign Minister cited by TASS.

RUSSIA-UKRAINE

• Ukrainian President Zelensky commented that Ukraine needs broader guarantees and that Russian President Putin is not afraid of Europe, while he added that Ukraine cannot recognise the Russian occupation.
• Ukrainian drone attack at an industrial facility in Russia’s Nizhny Novgorod region sparked a fire at an oil refinery, according to Russian Telegram news outlets.
• Russia’s Smolensk regional Governor said Russian air defence systems destroyed a Ukrainian drone attempting to attack a nuclear power facility in the Smolensk region, while it was later reported that the Smolensk nuclear power plant is operating in normal mode after a drone attack on the region, according to RIA.
• EU is proposing new Russian sanctions including an aluminium ban that would phase in over one year, while it also proposes new measures against Russian banks and dark fleet tankers, according to Bloomberg.

OTHER

• North Korean leader Kim inspected a nuclear material production base and called for bolstering nuclear forces this year, as well as boosting production of weapons-grade nuclear materials, according to KCNA. It was separately reported that an NSC spokesperson said US President Trump is to pursue a complete denuclearisation of North Korea, according to Yonhap.
• Estonia’s Defence Minister says Shipping firms may need to pay a fee to use Baltic Sea to cover cost of protecting undersea cables.

CRYPTO

• Bitcoin is slightly lower today, trading around USD 102.5k.
• Head of the Czech Central Bank wants it to buy billions of Euros in Bitcoin and said if approved, the Czech Central Bank could eventually hold as much as 5% of its EUR 140bln reserves in Bitcoin, according to FT.
• CNB Governor Michl on X says, an asset under consideration for reserves is Bitcoin; currently has zero correlation with Bonds and is an interesting asset for a large portfolio; Only at the stage of analysis and discussion; no decision is imminent.

APAC TRADE

• APAC stocks traded higher following the positive handover from Wall St where tech clawed back some of the DeepSeek-related losses, although the conditions were quiet in Asia amid mass closures for the Chinese New Year.
• ASX 200 was led higher by outperformance in tech and utilities, while softer-than-expected Australian CPI data for Q4 also spurred increased rate cut bets for the RBA’s meeting in February (cut now priced at around 76% vs. 64% pre-release).
• Nikkei 225 took impetus from US counterparts but with gains capped amid few fresh drivers and after outdated BoJ minutes.

NOTABLE ASIA-PAC HEADLINES

• BoJ December meeting minutes stated members agreed inflation expectations are heightening moderately and agreed the BoJ should raise the interest rate if the economy and prices move in line with forecasts. Many members said the economy and prices are moving in line with forecasts and agreed the BoJ must decide the timing for raising rates by looking carefully at various data and information. Furthermore, members also agreed they wanted a bit more data on wage momentum and saw uncertainty over the next US administration’s economic policies.
• US State Department spokesperson said part of Secretary of State Rubio’s trip to Central America is about countering China, according to Fox Business.

DATA RECAP

• Australian CPI QQ (Q4) 0.2% vs. Exp. 0.3% (Prev. 0.2%); YY (Q4) 2.4% vs. Exp. 2.5% (Prev. 2.8%)
• Australian RBA Trimmed Mean CPI QQ (Q4) 0.5% vs. Exp. 0.6% (Prev. 0.8%)
• Australian Weighted CPI YY (Dec) 2.50% vs. Exp. 2.50% (Prev. 2.30%)

2C ASIAN REPORT

APAC tracks positive sentiment on Wall St., DXY lower ahead of FOMC – Newsquawk Europe Market Open

Wednesday, Jan 29, 2025 – 01:55 AM

• APAC stocks traded higher following the positive handover from Wall St where tech clawed back some of the DeepSeek-related losses.
• European equity futures indicate a positive open with Euro Stoxx 50 future up 0.8% after the cash market closed with gains of 0.1% on Tuesday; boosted by pre-market earnings from ASML.
• DXY is a touch lower, JPY, EUR and GBP are all marginally firmer vs. the USD, AUD lags post-CPI.
• Microsoft (MSFT) is probing if a DeepSeek-linked group improperly obtained OpenAI data, according to FT.
• Looking ahead, highlights include Spanish GDP (Q4), US Advance Goods Trade Balance, NZ Trade Balance, Fed, BoC, Riksbank & BCB Policy Announcements, Fed Chair Powell, BoC’s Macklem & Rogers, Riksbank’s Thedeen, BoE Governor Bailey, Supply from UK & Germany, Earnings from ASML, Volvo AB, Santander, Tesla, Meta, Microsoft, IBM, T-Mobile, Danaher, General Dynamics & VF Corp.

SNAPSHOT

More Newsquawk in 3 steps:

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US TRADE

EQUITIES

• US stocks reversed some of the DeepSeek downside and equity futures were bid throughout the majority of the session with upside in tech as Nvidia (NVDA) regained some of Monday’s historic losses although still has some ground to cover to completely retrace the move. Elsewhere, T-notes settled in red but were very choppy in response to risk sentiment, tariff commentary and auctions, while the dollar caught a bid on Trump’s recent tariff remarks.
• SPX +0.92% at 6,067, NDX +1.59% at 21,463, DJIA +0.31% at 44,850, RUT +0.04% at 2,284.
• Click here for a detailed summary.

NOTABLE HEADLINES

• US DOGE said it is saving the federal government about USD 1bln per day but added that the federal government savings needs to increase to over USD 3bln per day.
• US judge temporarily paused the Trump administration’s freeze of federal loans and grants with a pause to Trump’s halt on funding of open programs to last until February 3rd, while it was also reported that a state attorney general group sued the Trump administration after earlier saying it would challenge the federal funding pause.
• White House said the February 1st date for tariffs on Canada and Mexico still holds, while there is no specific date for tariffs on steel and copper.
• Mexico and Canada launched a flurry of border measures to appease US President Trump in which the tariff threat spurs Mexico to fill in the smuggling tunnel and Canada to deploy helicopters and drones, according to FT.
• White House is looking at national security implications of DeepSeek and the US Navy issued a warning to its members to avoid using DeepSeek in any capacity, due to potential security and ethical concerns, according to CNBC.
• OpenAI said Chinese companies are ‘constantly’ trying to distil US AI models, while it engages in ‘countermeasures’ to protect its intellectual property and will work with the US government to protect US technology. It was separately reported that Microsoft (MSFT) is probing if a DeepSeek-linked group improperly obtained OpenAI data, while OpenAI said it has found evidence that Chinese artificial intelligence start-up DeepSeek used the US company’s proprietary models to train its own open-source competitor, according to FT.

APAC TRADE

EQUITIES

• APAC stocks traded higher following the positive handover from Wall St where tech clawed back some of the DeepSeek-related losses, although the conditions were quiet in Asia amid mass closures for the Chinese New Year.
• ASX 200 was led higher by outperformance in tech and utilities, while softer-than-expected Australian CPI data for Q4 also spurred increased rate cut bets for the RBA’s meeting in February (cut now priced at around 76% vs. 64% pre-release).
• Nikkei 225 took impetus from US counterparts but with gains capped amid few fresh drivers and after outdated BoJ minutes.
• US equity futures (ES +0.1%, NQ +0.3%) took a breather following yesterday’s tech-led recovery and with participants lacking conviction ahead of the FOMC and upcoming big tech earnings releases.
• European equity futures indicate a positive open with Euro Stoxx 50 future up 0.8% after the cash market closed with gains of 0.1% on Tuesday; boosted by pre-market earnings from ASML.

FX

• DXY is marginally softer after gaining yesterday on recent tariff rhetoric, while the latest data releases were mixed and garnered little reaction with participants now looking ahead to the FOMC.
• EUR/USD traded sideways at the weaker half of the 1.0400 handle with very few catalysts to spur the single currency.
• GBP/USD lacked direction amid a fairly sparse data calendar for the UK this week although BoE’s Bailey is to speak later.
• USD/JPY was indecisive as the BoJ Minutes from the December meeting did little to shift the dial given that there was a more recent meeting last week where the central bank delivered a widely expected 25bps rate hike.
• Antipodeans were briefly pressured after Australian CPI data in which all figures for Q4 printed softer-than-expected and resulted in increased bets for a cut at the next RBA meeting, while Westpac also brought forward its RBA rate cut call to February from May.

FIXED INCOME

• 10yr UST futures edged higher in the aftermath of a well-received 7yr auction but with gains capped as the FOMC looms.
• Bund futures rebounded from this week’s trough although remains below the 132.00 level with Bund supply scheduled later.
• 10yr JGB futures traded indecisively amid a lack of catalysts and with little reaction seen from the outdated BoJ minutes from the December meeting and Japan’s 5yr climate bond auction.

COMMODITIES

• Crude futures remained indecisive following the recent choppy performance and mixed private sector inventory data.
• Private inventory data expectations (bbls): Crude +2.9mln (exp. +3.2mln), Distillate -3.8mln (exp. -2.3mln), Gasoline +1.9mln (exp. +1.3mln) Cushing -0.1mln.
• Spot gold loitered around yesterday’s peak but with further upside capped as participants await the FOMC.
• Copper futures were mildly pressured with demand subdued amid the mass holiday closures for the Chinese New Year.

CRYPTO

• Bitcoin gradually gained overnight with prices back above the USD 102k level.
• Head of the Czech Central Bank wants it to buy billions of Euros in Bitcoin and said if approved, the Czech Central Bank could eventually hold as much as 5% of its EUR 140bln reserves in Bitcoin, according to FT.

NOTABLE ASIA-PAC HEADLINES

• BoJ December meeting minutes stated members agreed inflation expectations are heightening moderately and agreed the BoJ should raise the interest rate if the economy and prices move in line with forecasts. Many members said the economy and prices are moving in line with forecasts and agreed the BoJ must decide the timing for raising rates by looking carefully at various data and information. Furthermore, members also agreed they wanted a bit more data on wage momentum and saw uncertainty over the next US administration’s economic policies.
• US State Department spokesperson said part of Secretary of State Rubio’s trip to Central America is about countering China, according to Fox Business.

DATA RECAP

• Australian CPI QQ (Q4) 0.2% vs. Exp. 0.3% (Prev. 0.2%)
• Australian CPI YY (Q4) 2.4% vs. Exp. 2.5% (Prev. 2.8%)
• Australian Weighted CPI YY (Dec) 2.50% vs. Exp. 2.50% (Prev. 2.30%)
• Australian RBA Trimmed Mean CPI QQ (Q4) 0.5% vs. Exp. 0.6% (Prev. 0.8%)

GEOPOLITICS

MIDDLE EAST

• US Secretary of State Rubio reiterated in a call with the Egyptian Foreign Minister the importance of close cooperation to advance post-conflict planning to ensure Hamas can never govern Gaza or threaten Israel again.
• US President Trump’s Middle East envoy Steve Witkoff met with a senior adviser to Palestinian president Mahmoud Abbas in Riyadh, according to Axios.
• Russia and Syria are to hold further talks on Russian military bases in Syria, while there are no changes so far to the presence of Russian military bases in Syria, according to Russia’s Deputy Foreign Minister cited by TASS.

RUSSIA-UKRAINE

• Russian President Putin said they will allocate appropriate people if Ukraine wants to negotiate with Russia and there is a legal way to do it if Ukraine wants to negotiate, but he does not see any desire to negotiate.
• Ukrainian President Zelensky said Russian President Putin shows he is afraid of negotiations and strong leaders, and his actions are aimed at making the war endless. Zelensky also commented that Ukraine needs broader guarantees and that Russian President Putin is not afraid of Europe, while he added that Ukraine cannot recognise the Russian occupation.
• Ukrainian drone attack at an industrial facility in Russia’s Nizhny Novgorod region sparked a fire at an oil refinery, according to Russian Telegram news outlets.
• Russia’s Smolensk regional Governor said Russian air defence systems destroyed a Ukrainian drone attempting to attack a nuclear power facility in the Smolensk region, while it was later reported that the Smolensk nuclear power plant is operating in normal mode after a drone attack on the region, according to RIA.
• EU’s Kallas spoke with US Secretary of State Rubio to discuss shared foreign policy priorities and they agreed on the necessity of maintaining maximum pressure on Moscow to move towards a just and sustainable peace in Ukraine. Kallas also emphasised Europe’s increasing investment in defence and readiness to take on greater responsibility, alongside the importance of diversifying energy supplies.
• EU is proposing new Russian sanctions including an aluminium ban that would phase in over one year, while it also proposes new measures against Russian banks and dark fleet tankers, according to Bloomberg.
• US is reportedly sending dozens of patriot missiles from Israel to Ukraine, according to Axios.

OTHER

• North Korean leader Kim inspected a nuclear material production base and called for bolstering nuclear forces this year, as well as boosting production of weapons-grade nuclear materials, according to KCNA. It was separately reported that an NSC spokesperson said US President Trump is to pursue a complete denuclearisation of North Korea, according to Yonhap.

3B NORTH KOREA/SOUTH KOREA

end

3C JAPAN

end

3D. CHINA/

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

EUROPE/NATO/USA

5 RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/USA

Unbelievable!

(JerusalemPost)

‘$50m. taxpayer dollars about to fund condoms in Gaza,’ WH press sec. says

Palestinian terrorists in Gaza began launching improvised explosive devices (IEDs), including condoms and balloons, into Israel’s South in 2017. 

By JERUSALEM POST STAFFJANUARY 28, 2025 22:25Updated: JANUARY 28, 2025 22:36

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-839707&unitId=2900003088&userId=1938e01a-2e38-4f76-9d42-6dd0304d8a0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20250127_ed42a914c8e7054390cf48903248a9f58e79599d&useBunnyCDN=0&themeId=140&unitType=tts-player

“There was about to be $50 million taxpayer dollars that went out the door to fund condoms in Gaza,” White House Press Secretary Karoline Leavitt said on Tuesday, slamming the Biden administration for its handling of foreign aid. 

The Trump administration froze foreign aid over the weekend, pending review. “That is a preposterous waste of taxpayer money,” Leavitt added, citing the Department of Government Efficiency (DOGE) and the Office of Management and Budget (OMB).

This was the first White House press briefing since President Donald Trump took office. 

Palestinian terrorists in Gaza began launching improvised explosive devices (IEDs), including condoms and balloons, into Israel’s South in 2017. 

Condoms and balloons with explosive devices attached to them landed in schoolyards, agricultural fields, and highways and caused significant physical and psychological damage. 

Thousands of hectares of land were burned, and these IEDs caused millions of shekels of damage. 

As terrorists learned how to increase their range, in 2019, several balloons with rocket-propelled grenades attached were discovered close to a gas station by security staff at the Midreshet Ben-Gurion educational center near Sde Boker, some 70 km. from Gaza.

Supply of condoms

The condoms were supplied by either local Palestinian organizations or by international humanitarian aid organizations.

The helium was initially imported, intended for medical purposes, with Israel’s approval.

Anna Ahronheim contributed to this report.

end

ISRAEL/USA/UN/UNRWA

nobody can deal with the UN’s crooked operation:

both Israel and the uSA in a war against UN and they both do not want UNRWA in Israel

(zerohedge)

UN Chief In Open War With Israel & US After ‘Hamas-Sympathetic’ Relief Agency Banned

Tuesday, Jan 28, 2025 – 06:00 PM

The United Nations Relief and Works Agency for Palestine Refugees (UNRWA) is now in a full and very public international diplomatic fight with the Israeli government, as well as the United States and new Trump administration.

Israel has just announced that it will cut all contact with UNRWA and any other body acting on its behalf. The UN envoy for the organization was the first to reveal the Israeli statement. The UN has also said that Washington is supportive of Israel’s new ban.

But at a moment some 300,000 Palestinians have returned to their homes in largely destroyed northern Gaza, as videos have demonstrated, the UNRWA has said Israel’s impending ban on the agency is “harming the lives and future of Palestinians” and could serve to thwart the ongoing ceasefire agreement with Hamas as the change is “jeopardizing any prospect for peace and security.”

UN Secretary-General Antonio Guterres is demanding that Israel retract its order for the relief agency to leave its main office in Jerusalem.

“I regret this decision and request that the Government of Israel retract it,” he wrote in a letter issued Monday, underscoring the “irreplaceable nature”. The UN also doesn’t recognize Israel’s longtime claims of sovereignty over East Jerusalem where the UNRWA office is headquartered.

Like other local or regional UN relief agency offices, the UNRWA recruits from the local population, meaning that in Gaza and the West Bank, its local staffers are made up mostly of Palestinians.

Israel has in turn repeatedly accused these local UNRWA staff members of cooperating or being in cahoots with Hamas and Islamic Jihad terrorists. There have even been allegations of UNRWA members of having foreknowledge of the Oct.7 terror attacks on southern Israel.

Israel has further provided Washington with a dossier and what it says is clear evidence of UNRWA and Hamas cooperation, which the UN agency has rejected.

President Trump and Republicans, as well as conservative US media like Fox, have tended to echo the Israeli accusations that the UN agency is tainted and is not an impartial humanitarian actor on the ground.

Trump has also been floating a controversial plan to ‘clean out’ the Gaza Strip, arguing that its infrastructure is already destroyed and that Palestinians should go elsewhere. According to his latest remarks:

Donald Trump has repeated his suggestion that large numbers of Palestinians should leave Gaza for Egypt or Jordan, despite widespread opposition to the proposal from Palestinian leadership, the UN and US allies in the region.

Speaking to reporters onboard Air Force One on Monday night, the US president was asked about his comments over the weekend about “cleaning out” the Gaza Strip either “temporarily or long-term”. Trump reiterated he would “like to get [Palestinians from Gaza] living in an area where they can live without disruption and revolution and violence so much”.

The remarks, apparently at odds with existing US policy and international law, have been widely rejected by the Arab world as a potentially fatal blow to a two-state solution to the Israeli-Palestinian conflict, but were embraced by Israel’s right wing.

This is music to the ears of Israeli hardliners, who openly boast that their position is Israel should annex the Gaza Strip and begin building Jewish settlements and condominiums along the beach.

Meanwhile, Prime Minister Benjamin Netanyahu’s office has confirmed that Trump has invited the Israeli leader for a meeting at the White House set for next Tuesday, February 4.

end

ISRAEL///HAMAS/EGYPT/USA

the big problem here is that nobody want the Palestinians at any cost

(zerohedge)

Rubio says US, Egypt must work together so Hamas ‘can never govern Gaza or threaten Israel again’

Today, 3:42 am

New Secretary of State Marco Rubio spoke by phone with his Egyptian counterpart Badr Abdelatty, according to the State Department, following US President Donald Trump’s suggestion that Egypt house Palestinians from the Gaza Strip.

A US readout says the two “discussed the latest developments in Gaza,” with Rubio touting Egypt’s roles in brokering the hostage-ceasefire deal and providing humanitarian assistance to Gaza.

“He also reinforced the importance of holding Hamas accountable. The secretary reiterated the importance of close cooperation to advance post-conflict planning to ensure Hamas can never govern Gaza or threaten Israel again,” the statement adds.

END

ISRAEL/HAMAS/TURKEY QATAR

(JerusalemPost)

Qatar, Turkey to host Palestinian murder convicts released in hostage deal — officials

By Jacob Magid FollowToday, 2:46 am

Israeli security forces stand guard as buses transporting Palestinian prisoners being released as part of a hostage-ceasefire deal with the Hamas terror group leave the Ketziot prison in the Negev desert on January 25, 2025. (Gil Magen-Cohen/AFP)

Qatar and Turkey are slated to host the Palestinian murder convicts who were released and subsequently deported to Egypt as part of the hostage and ceasefire deal between Israel and Hamas, two officials tell The Times of Israel.

Israel demanded that the Palestinians convicted of the most series crimes not be released to Gaza or the West Bank. Egypt agreed to serve as a temporary landing spot for those murder convicts, 70 of whom were released last week and are now reside in Cairo.

Turkey has agreed to take in around 15 of those Palestinians and Qatar is expected to take in the remainder, though talks are ongoing and an additional country may be asked to host some of the prisoners deported later on in the deal, according to a regional official and an Arab diplomat familiar with the matter.

The decision on where to send the various Palestinian murder convicts is done in coordination with Israel, the two officials say.

end

HAMAS/ISRAEL//

(JerusalemPost)

Israel bans two Hamas-related NGOs operating in the north

The two NGOs were a direct continuation of the 2015 outlawed Northern Branch of the Islamic Movement.

By OHAD MERLINJANUARY 29, 2025 08:24

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Israel banned two NGOs operating in the north with relations to Hamas and an outlawed organization from 2015.

According to a statement by the Shin Bet (Israel Security Agency) and Defense Ministry, following prolonged activity, the “Ifshaa’ Al-Salam” committees (the Peace Spreading Committees), belonging to the outlawed Northern Branch of the Islamic Movement, have been outlawed, and their offices were closed on Tuesday.

The official statement added that Defense Minister Israel Katz signed an order outlawing “Ifshaa’ Al-Salam” “after the presentation of well-founded and unambiguous intelligence information collected on their activities.”

The Northern Branch of the Islamic Movement was declared an impermissible association in 2015 due to economic and ideological ties with Hamas and due to its inciting activity in Jerusalem and on Temple Mount.

Its counterpart, the Southern Branch, is seen as more pragmatic and moderate, even participating in Israeli politics under the Ra’am party.

Raed Salah, an imam from Umm el-Fahm who was arrested several times for incitement to violence and has led the Northern Branch for years, was arrested again in this context.

The statement accused Raed Salah of having built his public image over the years as a ‘defender of Al-Aqsa and Jerusalem’ from the Jewish takeover “while inciting and inflaming sentiments and using jihadist expressions, which translated into violence and disorder on the ground.”

The “Ifshaa’ al-Salam” committees were established by Raed Salah in 2017, only two years after the outlawing of his former association. According to the statement, despite the committees’ stated goal of dealing with the issue of violence in the Arab sector,

In practice, it was established as a cover for the continuation of the Northern Branch’s activities “in accordance with the worldview of the Muslim Brotherhood and to spread the Tanas’s anti-Israeli agenda.”

As part of their activities, activists of the committees, led by Raed Salah, visited educational institutions in Arab society with the aim of spreading the teachings of the outlawed Northern Branch.

The statement referred to the committees as “an entire system based on the Northern Branch’s past infrastructure,” which aims to create an affinity between Arab society and its ideology in order to preserve and strengthen Raed Salah’s position and ideologies.

In addition, another association found to be financing the committee, named “Mu’assat Al-Silm Al-Ajtma’i Lil-Islah Wal-Tahkim” (Social Peace Foundation for Reform and Arbitration) was also closed and its bank accounts were frozen.

Israeli expert: A game of cat and mouse 

Dr. Nathaniel S. Avneri, who specializes in religious sermons, societal trends ,and public sentiments within the Arab community in Israel, explained that the outlawing of these NGOs is a direct continuation of the crackdown against the Northern Branch of the Islamic Movement, banned in Israel in 2015 for its connections with Hamas and the global Muslim Brotherhood movement.

“These NGOs were outlawed based on proof of their relations to the Northern Branch, which was banned in 2015, including at the organizational and cadre levels,” explained Avneri.

“This move has economic and legal implications. But it’s really a game of cat and mouse, and they will probably move on to establish a new NGO under a new name and continue their activities from there,” he added.

Avneri elaborated that the ban was directed at organizations, not at its cadres, who are local icons such as Raed Salah, which explains how they can still operate relatively freely.

“The future may hold more such bans, but tools are limited,” he concluded.

end

ISRAEL/HAMAS

Arbel Yehoud, Agam Berger, Gadi Moses to be released from Gaza on Thursday

According to information presented to mediators of the deal, five Thai citizens are also expected to be released by Hamas.

By JERUSALEM POST STAFFJANUARY 29, 2025 16:47Updated: JANUARY 29, 2025 18:10

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The three hostages due to be released on Thursday are Arbel Yehoud, Agam Berger, and Gadi Moses, according to an announcement on Wednesday.

The releases are expected to occur in the late morning or early afternoon hours, according to sources who spoke to The Jerusalem Post.

This follows earlier reports that Israel has received the list of the three Israeli hostages in Gaza set to be released on Thursday, and that the list met with the expectations of Israeli authorities.

According to information presented to mediators of the deal, five Thai citizens are also expected to be released by Hamas. This number is independent of the agreement between Israel and Hamas.

The release of three hostages in a previously unscheduled hostage transfer on Thursday was announced on Sunday after 48 hours of intense negotiations.

The Hostage Families Forum welcomed the good news “of the expected release of Arbel Yehoud, Agam Berger, and Gadi Moses after 482 days in Hamas captivity,” in a statement released on Wednesday.

“An entire people is fighting for them and eagerly awaits their long-awaited return to the arms of their families.We have the sacred duty and moral right to return all our brothers and sisters home. We will not give up and will not stop at any stage until all the abductees return home within the framework of the current agreement – the living for rehabilitation and the dead for a proper burial in their country,” Hostage Families Forum continued.

Who are they?

German-Israeli hostage Arbel Yehoud was 28 when she was abducted by terrorists from Nir Oz – where three generations of her family called home. She appeared in a video by Palestinian Islamic Jihad, which was seemingly taken on Saturday, January 25, the day that four other female hostages were released.

Agam Berger, an IDF observation soldier was kidnapped from Nahal Oz on October 7. She is alleged to have been the hostage who braided the hair of the four IDF soldiers released on Saturday.

Gadi Moses was taken captive from outside his home on October 7 when Kibbutz Nir Oz, where he lived, was invaded by Hamas terrorists. Moses marked his 80th birthday in Hamas captivity in Gaza in March.

Gadi’s ex-wife Margalit Moses was also kidnapped by Hamas on October 7 and released on November 24 after 49 days. His partner, Efrat Katz, was killed by Hamas, whilst her daughter and two grandchildren were taken and subsequently released as part of the first hostage deal.

Gadi Moses’ niece, Efrat Machikava, stated, “We are waiting for him, with severe longing. We hope that his mental and physical strength is in good condition,” according to KAN.

The decision to release Thai hostages came amid a meeting between Coordinator for the Hostages and the Missing Brig.-Gen. (Res.) Gal Hirsch and a senior Thai government official on Saturday, according to N12.

Additional hostages are also scheduled to be released on Saturday.

END

ISRAEL/HOUTHIS/RED SEA

USA and British ships return to the Red Sea

(JerusalemPost)

US, British Commercial Ships Cautiously Return To Red Sea As Gaza Truce Holds

Wednesday, Jan 29, 2025 – 04:15 AM

American and British vessels are cautiously returning to the Red Sea as the Gaza truce and prisoner exchange deal continues to hold. Starting last week Yemen’s Houthi movement made clear that it would honor the ceasefire, and refrain from attacking international vessels in the Red Sea so long as Israel bides by the ceasefire.

However, a key exception is that Houthis will only continue attacking Israeli vessels. This intent to scale back pro-Palestine maritime operations, which has seen drones and missiles lobbed against foreign ships for many months, is translating to less incidents over this past week.

The Yemeni Houthi army’s Joint Maritime Information Center (JMIC) announced Tuesday, “JMIC assesses that as the peace agreement progresses and vessels and infrastructure remain untargeted, improved stability is expected; however, the risk in the Red Sea and Gulf of Aden remain elevated.”

Ansarallah representatives first revealed on January 19 that attacks would be scaled back given Hamas has agreed to the ceasefire deal with Israel. 

According to Lebanon-based The Cradle, “Since 19 January, six US and UK vessels have transited the Red Sea safely. Despite this, major international shipping firms such as Danish company Maersk, Swiss company MSC, and Japanese company Mitsui OSK Lines Ltd have said that they will not immediately resume journeys despite the Yemeni assurances.”

For the past year, international shipping companies been forced to take the much longer and costlier route around the Africa continent to avoid the Red Sea.

The Houthis have attacked more than 100 international commercial vessels, and have even targeted US and British military warships, including aircraft carriers. The Houthis have also shot down multiple American MQ-9 Reaper drones.

As we reported last week, ocean lines have said they are watching developments in the Red Sea but have offered no timeline to resume regular schedules there. Among major lines, only CMA CGM has maintained a schedule on the Suez Canal route.

“The situation in the Suez Canal remains fluid and the security situation is unclear,” said MSC in a statement to FreightWaves. “In order to guarantee the safety of our seafarers and to ensure consistency and predictability of service for our customers, MSC will continue to transit via the Cape of Good Hope [around Africa] until further notice.”

The cost of transit through the Suez Canal has greatly ratcheted, and the avoidance of the strategic waterway to and from the Mediterranean has also cost Egypt tens of billions of dollars.

END

EGYPT//JORDAN/ALBANIA/GAZA

they are not stupid: nobody wants these people with some as terrorists

(zerohedge)

Jordan, Egypt Reject US Plan To Resettle Gazans As Trump Doubles Down

Wednesday, Jan 29, 2025 – 02:45 AM

After last Saturday President Trump floated a plan to ‘clean out’ Gaza by conducting a mass resettlement of Palestinians in neighboring countries, namely Egypt and Jordan, he’s now doubling down on the idea.

Egypt and Jordan are not happy, but are also feeling the pressure as a result, and it must be remembered that both are recipients of huge amounts of foreign aid each year – with Egypt receiving billions.

Israeli media underscores there’s been wall-to-wall firm opposition by Arab leaders: “US President Donald Trump dug in his heels Monday over a controversial suggestion that large numbers of Gazans take refuge in Egypt and Jordan, shrugging off wall-to-wall opposition to the proposal from Arab leaders.”

“Fresh off what he said were calls with Egyptian counterpart Abdel-Fatah el-Sissi and Jordan’s King Abdullah, Trump insisted both leaders would take in Palestinians from the war-ravaged territory and said the issue would be discussed with Prime Minister Benjamin Netanyahu when the two meet sometime soon, amid speculation in Israel that Trump’s gambit was being coordinated with Jerusalem,” the report details.

“Egyptian media on Tuesday cited government sources as saying that Trump and Sissi had yet to speak. If they did, Sissi’s office would issue a readout, the Egyptian officials told local media,” it continues.

This would involve these countries absorbing hundreds of thousands of Palestinian refugees – something which Jordan has already done historically over the last some seventy years.

Here are the latest remarks from Trump which are driving the controversy:

Asked about those comments, Trump told reporters on Air Force One Monday evening he would “like to get them living in an area where they can live without disruption and revolution and violence so much.”

“When you look at the Gaza Strip, it’s been hell for so many years,” Trump said. “There have been various civilizations on that strip. It didn’t start here. It started thousands of years before, and there’s always been violence associated with it. You could get people living in areas that are a lot safer and maybe a lot better and maybe a lot more comfortable.”

Interestingly, the tiny Balkan country of Albania has entered the discussion after an Israeli Channel 12 media report said that Trump was in talks with Albania for it to take 100,000 Palestinians from Gaza.

But Albania’s prime minister quickly batted this down, calling it false. “I haven’t heard something so fake in quite some time – and there’s been a lot of fake news lately! It is absolutely not true,” Prime Minister Edi Rama tweeted. If such talks actually did exist, the Muslim-majority population of this country would surely be outraged. 

As for Egypt and Jordan, Trump may use the outsized US assistance provided to pressure their leaders to agree to his plan at least on some level. But the reality is that this is ultra politically sensitive. Past historic waves of Palestinian refugees and armed groups flooding nearby Arab countries have literally erupted in wars, which especially Lebanon can attest to. Jordan has also seen its country destabilized at times.

There’s also the logistics – with Palestinians now rushing back to their largely destroyed communities in northern Gaza, they are defiantly telling the world they don’t plan to leave their homeland. The Gaza ceasefire would likely collapse if Palestinians were suddenly pushed out in large waves into Egypt and Jordan.

IRAN/USA/ ISRAEL

ISRAEL/SYRIA

END

RUSSIA/UKRAINE/

Trump must make a deal fast before WWIII breaks out:

(zerohedge)

Flirting With WW3: Russia Says Nuclear Plant Targeted In Massive Ukrainian Drone Attack

Wednesday, Jan 29, 2025 – 10:20 AM

On Wednesday Russian officials have alleged that a new massive Ukraine drone attack included an effort to target a nuclear power plant. At least 100 drones were sent from Ukraine overnight against various oil and power facilities in one of the single biggest UAV barrages of the war.

RIA news agency reported that the Smolensk Nuclear Power Plant came under attack. It is the largest power generating plant in Russia’s northwest region. State media reports indicate the plant is operating normally in the wake of the assault.

“Air defense systems destroyed a drone attempting to strike a nuclear power facility in the western region of Smolensk bordering Belarus, Governor Vasily Anokhin said on the Telegram messaging app,” France24 details.

Authorities say that among the some 104 total drones which attacked Russia, at least 11 inbound UAVs were destroyed over the Smolensk region, the western part of which borders Belarus.

Officials say that at least one of these drones was destroyed by air defense systems as it tried to strike the Smolensk nuclear power complex. “According to preliminary information, one of the drones was shot down during an attempt to attack a nuclear power facility,” Governor Vasily Anokhin said on Telegram. “There were no casualties or damage.”

Still, if accurate the Ukrainians are really playing with fire here – the kind of fire which could trigger WW3 and far crosses all of Vladimir Putin’s red lines.

Since the war’s start, most international concern for potential nuclear disaster has centered on Ukraine’s Zaporizhzhia plant, as it’s basically been in a frontline area of the battle in Ukraine’s east. At various points, the Russian forces who hold and oversee it have accused Ukraine of mounting attacks on the site. Each side has in the past accused the other of plotting false flag incidents at the facility, but lately the situation has become relatively stable.

In the recent past, top Russian national security officials have strongly warned that attacks on nuclear facilities could trigger WW3:

Medvedev wrote on Telegram that, if an attack on the NPP “with NATO missiles is confirmed, it will be necessary to look at a scenario of Russia’s simultaneous strike” on nuclear sites in Ukraine and facilities in eastern Europe.

However, Alexei Likhachev, director of nuclear power company Rosatom, had insisted on July 14 that “all necessary measures were taken to protect Russian nuclear power plants near the borders with Ukraine” and that the situation was under control.

However, on July 21, a tender went out on the Russian government portal for the installation of the protection measures at the Smolensk NPP. The documents state that the system will have to detect, intercept and jam drone signals, although it did not specify any other technical details. The measures are planned to be up and running by early September.

In this latest Wednesday, attack which elsewhere included drone strikes on oil facilities, Russia is also accusing Kiev of “provocations aimed at creating a threat of man-made disaster” at the Smolensk plant, according to a defense ministry statement.

Already the last several days have witnessed major direct drone hits on some of Russia’s largest oil refineries. Russia’s Kstovo Refinery is the fourth largest in the country, and widely circulating social media videos show a huge fire there Wednesday.

Putin declares he will not negotiate with Zelensky

(zerohedge)

Putin Declares He Won’t Negotiate With Zelensky As Ukrainian Leader Has Outlawed Peace Talks

Tuesday, Jan 28, 2025 – 10:10 PM

In a huge development which significantly raises the stakes for any future potential Trump-backed negotiations related to seeking ceasefire in the Ukraine war, President Vladimir Putin has said that he won’t negotiate with Ukraine so long as President Volodymyr Zelensky is in power, and on the other side of talks.

“If he wants to take part in negotiations, I will select such people, it’s not an issue. The question is about the final signing of the documents,” Putin said in a state broadcast TV interview on Tuesday. He argued that because of canceled elections Zelensky’s legitimacy has expired, and this means he “does not have the right to sign anything.”

Early in the war Zelensky had authorized a decree outlawing peace negotiations with Moscow. This happened in 2022 and there have not been direct engagements since, other than UAE-brokered POW swaps.

It was actually Zelensky who long ago declared that it is Putin who is illegitimate, and that Ukraine won’t enter peace negotiations so long as Putin is in power. It appears the Russian leader is now using the same tactic to turn the table, and create additional leverage at a moment Trump is pushing for talks and a final deal.

“On the question of the final signing of the documents…there cannot be a single mistake or wrinkle. Everything must be polished,” Putin emphasized.

But Putin in the fresh comments did leave an opening. “If there is a desire, any legal question can be resolved. So far, we simply don’t see such a desire” from the Ukrainian side, Putin stressed.

Essentially Putin is saying Zelensky would have to ‘move first’ to cancel that prior law banning talks with Putin’s government. This could by why the Kremlin is slow-playing Trump overtures which are meant to encourage everyone to get to the negotiating table.

Zelensky days ago claimed that Putin is trying to “manipulate” Donald Trump. According to a summary of the latest back-and-forth:

Russian President Vladimir Putin told reporters on Friday: “Regarding negotiations, we have always said—and I want to emphasize this again—that we are ready for talks on the Ukrainian issue.”

Ukrainian President Volodymyr Zelensky said in his evening address on Friday: “[Putin] wants to manipulate the desire of the President of the United States of America to achieve peace. I am confident that no Russian manipulations will succeed anymore.”

Institute for the Study of War said in a Russian offensive campaign assessment on Friday: “Putin is once again attempting to obfuscate his unwillingness to participate in good-faith negotiations to end the war by blaming Ukraine for defending itself against Russia’s invasion and illegal annexation of Ukrainian territory.”

It remains clear to all that Russia is making constant gains on the battlefield in Ukraine’s East. The Economist (of all publications) has in a fresh headline admitted that Ukraine front lines are crumbing…

Putin further explained in the Tuesday interview, “Negotiations factually began immediately after the start of the Special Military Operation. Initially, we told the Ukrainian leadership at the time that the people of the Lugansk and Donetsk People’s Republics don’t want to be part of Ukraine. Leave these territories, and that’s it, that’s where it ends. No fighting, no war.”

Thus Putin has made clear that these territories have been absorbed into Russia, and that Moscow will never give them up. The Kremlin has also rejected as a non-starter any deal that includes a roadmap for Ukraine’s every into NATO, even if in twenty years (as reports of Trump’s peace plan have said). Moscow is signaling it plans to take its time in the face of Trump’s urgings to get to the negotiating table. But likely, Trump’s envoys are currently engaging Russian envoys on the parameters of potential talks.

end

6.GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUES

GLOBAL ISSUES//

MARK CRISPIN MILLER

NYC Mayor Eric Adams Is Sick, But Vague On Cause

January 28, 2025

New York City Mayor Eric Adams is sick and has a limited public schedule, but details on what is ailing him have not been publicized.

Late Sunday evening (January 26), a spokesperson for New York City Mayor Adams informed the press that he was sick and was set to undergo a series of appointments with doctors and routine medical tests. “While Mayor Adams will continue to communicate constantly with staff and ensure city business continues undeterred, during this time, the mayor will have a limited public schedule,” Deputy Mayor for Communications Fabien Levy said in the statement, adding that he “has a right to privacy when it comes to personal matters, but we will continue to communicate in in the unlikely event he is unable to fully discharge his duties on any particular day.”

Link

Upgrade to paid

Adams’ first shot:

Today Co-Host Sheinelle Jones’ ‘Family Health Matter’ Is ‘Serious,’ Source Says: ‘A Sensitive Time’ (Exclusive)

January 15, 2025

Sheinelle Jones revealed on Wednesday, Jan. 15 that she is taking an extended break from the Today show to deal with a family health matter. And while she did not disclose the nature of the issue, a source close to Jones tells PEOPLE the situation is “serious.”

According to the insider, the health matter does not concern Jones herself or the three children she shares with husband, Uche Ojeh: 14-year-old Kayin and 12-year-old twins, Clara and Uche.

“Sheinelle appreciates the support she’s received from fans and viewers in her absence,” the source says. “She’s especially grateful for her tight-knit Today show family and co-hosts, for all their love during a sensitive time.”

Link

EXCLUSIVE: ‘Robocop’ Star Peter Weller, 77, Cruelly Trolled After Fans With ‘Scabby and Frail’ Appearance As He Signs Autographs for Fans — ‘Did He Just Come From the L.A. Fires?!’

January 21, 2025

Robocop legend Peter Weller raised concerns about his appearance after he turned up for a meet and greet with fans with lesions on his head.

The film icon appeared to have damaged his hands and head with skin peeling from his skull under tufts of white hair as he signed autographs for devotees at the event in Los Angeles, RadarOnline.com can reveal.

The 77-year-old played the lead in the hit film and its sequel and has starred in more than 70 movies, but fans took to social media to discuss his frail and apparently injured body.

One said on X: “The man, the myth, the legend… WTF has happened to Peter? My heart aches.”

Link

‘Castle’ Alum Susan Sullivan Reveals New Health Diagnosis After Cancer Battle

January 19, 2025

Susan Sullivan shared an honest update with her fans on social media this weekend as she announced a new health diagnosis. The 82-year-old actress, who battled lung cancer less than two years ago, said in a post on X , formerly Twitter, that she is battling lymphoma, a type of blood cancer. She tweeted a photo of herself holding her head in her hand as she sat in a chair inside what appeared to be a medical facility. She did not provide any further information regarding when she received her diagnosis.

Link

NBA legend Isiah Thomas opens up on personal health battle as he fights neurological disease

December 28, 2024

NBA legend Isiah Thomas has opened up on his own personal health battle.

The two-time champion is in a fight with neurological disease Bell’s palsy.

Link

Emily Willis’ tiny weight may have contributed to cardiac arrest, says doctor

January 16, 2025

Emily Willis [26], the former adult star who suffered a cardiac arrest at a rehab centre in February 2024, was reportedly only 80 pounds (5st 7lbs) before her health crisis. A medical health doctor has suggested that her weight could have played a role in her condition. Emily was left in a critical state and a vegetative coma following her cardiac arrest. The latest update on her condition came from her GoFundMe page in May 2024, which revealed she was showing “signs of responsiveness like eye tracking but is still unable to communicate”. Her stepfather, Michael, provided two updates to TMZ in March 2024 about Emily’s condition. It comes after Emily’s birthday in December. In his last update, he shared that Emily had awakened from her “vegetative state” and was showing positive signs of recovery such as tracking things with her eyes, smiling and getting emotional during conversation. However, it remains unclear if Emily’s weight had any direct impact on her health crisis.

Link

Panthers’ head coach Mike Larabee to temporarily step away due to cancer diagnosis

January 18, 2025

MIAMI, FL – FIU softball head coach Mike Larabee [56] announced on Saturday that he will be temporarily stepping away from leading the Panthers after being diagnosed with Myelofibrosis, a rare, chronic blood cancer that affects the bone marrow. During his absence, Coach Larabee will be undergoing a bone marrow transplant and is expected to miss the 2025 season.

Link

Fans rally around celebrated San Francisco filmmaker after cancer diagnosis

January 16, 2025

Local artist Craig Baldwin [72], a found footage filmmaker and stalwart of San Francisco’s experimental arts scene, is fighting throat cancer, according to a GoFundMe set up by his friends and fellow artists. According to the GoFundMe, Baldwin began medical treatment in August and is undergoing radiation treatment and chemotherapy. Funds will support Baldwin’s speech and physical therapy, rent and other medical expenses.

Link

NC Rep. Joe John resigns, citing terminal cancer diagnosis: ‘A heavy heart’

January 20, 2025

RALEIGH, N.C. — A longtime Wake County state representative announced with a “heavy heart” his resignation from the North Carolina General Assembly. Rep. Joe John, a Democrat who represented northwestern Wake County, shared news of his resignation in a letter posted on social media after he said he received a terminal diagnosis of throat cancer from his doctors. John, 85, first stated publicly that he was diagnosed with throat cancer in early December. John, who represents District 40, said his doctors told him all treatment options had been exhausted.

Researcher's Note - North Carolina to Require Vaccine [sic] Verification for State Employees, Urges Other Government Agencies and Private Employers to do the Same

END

n memory of those who “died suddenly” in the United States and worldwide, January 20-27, 2025

Movie exec Jim Tauber (C), producer Yolanda Halley, agent Scott Pang; playwright Joel Paley (Ruthless!); broadcaster Elizabeth Nissen; Big Pharma exec Eric Berman; rapper DJ Unk (43); & more

Jim Tauber, Longtime Film Executive, Dies at 74

January 24, 2025

Jim Tauber, the distinguished film executive whose decades-long career included stints with Columbia TriStar, Gramercy Pictures, Propaganda Films, 20^th Century Fox, Anonymous Content and Sidney Kimmel Entertainment, has died. He was 74. Tauber died Wednesday of complications from multiple myeloma, his family announced.

Link

Upgrade to paid

Yolanda Halley: Producer of ‘Dutch’ and ‘Soul Mates’ Passes Away

January 26, 2025

Yolanda Maria Halley, a celebrated producer and creative force behind films such as Dutch and Soul Mates, passed away on Sunday, Jan. 19, 2025, surrounded by her family. Her husband, Manny Halley, CEO of Imani Media Group, shared in a heartfelt statement.

No age or cause of death reported.

Link

Scott Pang, Longtime ICM Booking Agent Who Worked With Usher & Lauryn Hill, Dies at 69

January 23, 2025

LOS ANGELES, CA – The industry veteran worked at William Morris and with the Ice Capades and Harlem Globetrotters earlier in his career. Longtime booking agent Scott Pang passed away on Thursday (Jan. 23) after suffering from a cardiac arrest. He was 69 years old.

Link

Ruthless! Director and Scribe Joel Paley Has Died at 69

January 22, 2025

Playwright, lyricist, dancer, and director Joel Paley died suddenly January 11, at the age of 69. The news was first reported by the New York Times. Outside of Ruthless!, Mr. Paley served as Bea Arthur’s personal assistant, including a brief stint as choreographer for her television show Maude.

No cause of death reported.

Link

‘L.A. Law’ Contributor Ronnie Yeskel Has Died

January 21, 2025

Longtime casting director Ronnie Yeskel has died. According to Variety, Yeskel, who worked on L.A. Law and Pulp Fiction died on Jan. 4 at The Motion Picture & Television Fund Retirement Home in Woodland Hills. AMPAS Governor Richard Hicks confirmed the news about Yeskel, who was battling cancer. She was 76 years old.

Link

Barry Michael Cooper, ‘New Jack City’ Writer, Dead at 66

January 22, 2025

Writer and producer Barry Michael Cooper has died in Baltimore, Maryland, TMZ has learned. Cooper wrote a series of iconic 1990s movies, including “New Jack City,” starring Wesley Snipes and Chris Rock, “Above The Rim,” starring Tupac Shakur and “Sugar Hill.” He also produced the 2017-2019 TV series “She’s Gotta Have It,” based on the Spike Lee film of the same name. Cooper had just posted on Instagram on January 15, celebrating Martin Luther King Jr. ‘s birthday. The Maryland Chief Medical Examiner’s Office confirmed Cooper died Tuesday. He was 66.

No cause of death reported.

Link

Elizabeth Nissen dead at 71: She was a veteran ABC News Correspondent

January 21, 2025

Elizabeth Nissen’s family announced that she died at home, only three days after turning 71. As well as working for CNN, The Wall Street Journal and Newsweek, Elizabeth Nissen will be best remembered for working for ABC, covering the death of Princess Diana the evening she died in 1997 on ABC’s ‘World News Tonight.’ Elizabeth Nissen passed away at her home in Ann Arbor, Michigan, USA, on Tuesday, January 7, three days after she turned 71. At the time of writing, the cause of her death is not known.

Link

Pete Medhurst Passes Away Following Battle with Brain Cancer

January 21, 2025

Audacy in Washington D.C. and 106.7 The Fan sadly announced the passing of Pete Medhurst, a longtime employee who passed away Monday night, surrounded by his family, after his short battle with brain cancer. Medhurst started as an update anchor shortly after 106.7 The Fan’s launch. He served in a variety of roles at The Fan including morning anchor, fill-in host, and Nationals post-game host. He’d eventually also get the chance to become the primary fill-in play-by-play voice for Nationals radio broadcasts.

No age reported.

Link

A Big Pharma exec “died suddenly”:

Eric Berman, 64

January 24, 2025

CLIFTON PARK, NY – Eric B. Berman – faithful husband, loving son, devoted father, loyal friend and consummate professional – died suddenly Sunday afternoon, January 19, 2025, at his home, in Clifton Park, at the age of 64. He held a number of top positions at several pharmaceutical companies, including Genentech, Amgen, Elan, Eisai and Novo Nordisk. At the time of his passing, he was Director, Healthcare Market, at Genentech, where he spent the last 12 years of his professional life.

Researcher’s Note - Genentech requiring Covid vaccination [sic] for workforce: Link

No cause of death reported.

Link

DJ Unk Cause of Death Revealed

January 26, 2025

DJ Unk’s cause of death has been revealed, the Atlanta rapper died from a heart attack, TMZ has learned. Unk’s wife, Sherkita Long-Platt tells TMZ he died in his sleep on January 24 after suffering cardiac arrest. She says the family is aware of various rumors going around as to how he died and she wants people to know the truth. She tells us speculation he died from drugs is not true as he didn’t do drugs. He had been dealing with unspecified health issues in 2009 which affected his career. He released a couple more singles in the following years. He was only 43.

Link

Legendary New York hardcore/metal promoter Rich Hall has passed away

January 22, 2025

Rich Hall [48], a pivotal figure in the NY hardcore/metal scene, has passed. Having started as a roadie and merch seller in the ‘90s, Rich went on to establish the influential 1000 Knives booking company, securing shows at CBGB and other legendary venues. After a brief hiatus following CBGB’s closure, he returned to become a vital force in the independent promotion scene, particularly in Brooklyn and Manhattan.

No cause of death reported.

Link

Remembering Johnny Bonta, Ice Hockey Player For Toledo Mobsters, Who Passed Away At Age 29

January 24, 2025

Johnny Bonta, an ice hockey player who played as a right winger and shot right-handed, tragically passed away [at his home] on Thursday, January 23, 2025, at the age of 29. A dedicated player with a charismatic charm, Johnny’s passion for hockey made him a standout within the Toledo [OH] Mobsters Hockey Club. His untimely passing has left a significant void in the lives of his family, friends, teammates, and fans.

No cause of death reported.

Link

Track Legend Fred Newhouse, Former Olympic Gold Medalist, Dies At 76

January 26, 2025

Fred Newhouse, a member of the United States 1976 gold medal winning 4×400 meter relay team, died on Jan. 20 at the age of 76. Newhouse, who graduated from Prairie View A&M, also won an individual silver medal at the 1976 Olympic Games for the 400m race. According to Sports Illustrated, Newhouse earned a degree in electrical engineering from Prairie View, where he also became a three-time All-American and National Champion. Notably, following his days as a track athlete, Newhouse became the first Black referee for the renowned Texas Relays in 2004, and due to his contributions to the sport in the State of Texas, was inducted into the Texas Track and Field Coaches Hall of Fame in 2014.

No cause of death reported.

Link

JP Bemberger, a beloved, honorary member of Kansas men’s basketball team, dies

January 21, 2025

Jonathan Phog “JP” Bemberger [20], who has been an honorary member of Kansas men’s basketball since Nov. 11, 2020, has died following his bout with Ewing’s Sarcoma, a form of pediatric cancer, KU basketball reported on social media Tuesday night. Bemberger, who according to the Twitter account was born in 2004 and passed away in 2025, was introduced to the KU program in 2020 by Team IMPACT, a program that matches individuals facing serious illness and disabilities with college teams across the country. Bemberger has been battling cancer since joining the KU team. Upon joining the squad as a 16-year-old, he underwent chemotherapy, radiation and surgery in fighting the illness. For a time, he had been cancer-free.

Link

Former Pirates Coach Dies at 72

January 23, 2025

The baseball world was hit with the sad news that former Pittsburgh Pirates bullpen coach Bobby Cuellar passed away earlier this week due to a heart attack. He was 72 years old.

Researcher’s Note – Rosenthal: MLB requires managers and coaches to be ‘up to date’ with COVID-19 vaccines [sic] in spring training: Link

Link

‘Retirement House’ TikToker Reatha Grey dies at 75 as fans pay tribute

January 23, 2025

Social media star Reatha “Rose” Grey has died at the age of 75. The TikToker, known as a member of the viral comedy group Retirement House, passed away this week, her co-star said. Her cause of death is unclear at the moment. Retirement House paid tribute to Reatha, who was known as Grandma Rose, on social media, sharing a series of photos and videos of the star. In 2022, Reatha revealed her comedy group had brought seniors together after many elderly people found themselves isolated during the coronavirus pandemic.

No cause of death reported.

Link

The Artist Behind F-Zero’s Legendary Japanese Cover Has Passed Away

January 22, 2025

We’re sad to report that Arthur Nichols, whose skill with the pen made the cover so memorable, has passed away after a long battle with cancer. He was 63 years old. According to Bleeding Cool, during his career, Nichols would work on comic book properties such as Star Wars, Sleepwalker, Leonard Nimoy’s Primortals, The Ray, Mecha, Conan, Justice League Of America, Night Thrasher, Team Titans, Magnus Robot Fighter, Deathstroke Neil Gaiman’s Mr Hero, Punisher, Spider-Man, X-Men, New Mutants and Robocop III.

Link

An oncologist “died suddenly” (of cancer):

Felix Feng, Giant in the Field of Prostate Cancer</str

DR PAUL ALEXANDER

END

SLAY NEWS

NEWS ADDICTS

EVOL NEWS

NEWS ADDICTS

———-

MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK/

end

7.OIL AND NATURAL GAS ISSUES/GLOBAL/ENERGY/COAL

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//

CANADA

Bank of Canada Cuts Rates As Expected, Ends QT, Restarts QE, And Drops Guidance On Looming Trade War

Wednesday, Jan 29, 2025 – 10:09 AM

Just hours before the Fed’s dovish pause, the Bank of Canada extended its easing experiment when moments ago it cut interest rates by a quarter percentage point as expected, ended the bank’s Quantitative Tightening, and dropped guidance on any further adjustments to borrowing costs as President Trump’s tariff threat clouds the outlook.

The central bank headed by Governor Tiff Macklem lowered the benchmark overnight rate to 3% on Wednesday. The move was widely anticipated by both markets and economists in a Bloomberg survey.

The Bank is also announcing its plan to complete the normalization of its balance sheet, ending quantitative tightening. The Bank will restart asset purchases in early March, beginning gradually so that its balance sheet stabilizes and then grows modestly, in line with growth in the economy

“The economy is expected to strengthen gradually and inflation to stay close to target. However, if broad-based and significant tariffs were imposed, the resilience of Canada’s economy would be tested,” the bank said in its statement.

In prepared remarks, Macklem said while “monetary policy has worked to restore price stability,” a broad-based trade conflict would “badly hurt” economic activity, but that the higher cost of goods “will put direct upward pressure on inflation.”

“With a single instrument — our policy rate — we can’t lean against weaker output and higher inflation at the same time,” Macklem said, adding the central bank would need to “carefully assess” the downward pressure on inflation, and weigh that against the upward pressure on inflation from “higher input prices and supply chain disruptions.”

BoC officials called the 200 basis points of easing since June “substantial,” and removed any guidance about further rate cuts. The smaller reduction follows to back-to-back half percentage point cuts in October and December, and was the sixth consecutive monthly rate cut.

Below we present a redline comparison of the two latest BOC statements…

… and we excerpt the highlights from the latest one below:

Inflation

• “CPI inflation remains close to 2%, with some volatility due to the temporary suspension of the GST/HST on some consumer products.”
• “Shelter price inflation is still elevated but it is easing gradually, as expected.”
• “A broad range of indicators, including surveys of inflation expectations and the distribution of price changes among components of the CPI, suggests that underlying inflation is close to 2%.”
• “The Bank forecasts CPI inflation will be around the 2% target over the next two years.”

Growth

• “The global economy is expected to continue growing by about 3% over the next two years.”
• “Growth in the United States has been revised up, mainly due to stronger consumption.”
• “Growth in the euro area is likely to be subdued as the region copes with competitiveness pressures.”
• “In China, recent policy actions are boosting demand and supporting near-term growth, although structural challenges remain.”
• “Canada’s labour market remains soft, with the unemployment rate at 6.7% in December.”
• “Job growth has strengthened in recent months, after lagging growth in the labour force for more than a year.”
• “The Bank forecasts GDP growth will strengthen in 2025.”
• “Following growth of 1.3% in 2024, the Bank now projects GDP will grow by 1.8% in both 2025 and 2026, somewhat higher than potential growth.”
• “As a result, excess supply in the economy is gradually absorbed over the projection horizon.”

Future Policy

• “If broad-based and significant tariffs were imposed, the resilience of Canada’s economy would be tested.”
• “We will be following developments closely and assessing the implications for economic activity, inflation and monetary policy in Canada.”
• “The Bank is committed to maintaining price stability for Canadians.”
• “The next scheduled date for announcing the overnight rate target is March 12, 2025.”
• “The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the MPR on April 16. 2025.”
• “The Bank will restart asset purchases in early March, beginning gradually so that its balance sheet stabilizes and then grows modestly, in line with growth in the economy.”
• “Asset purchases will begin with the restart of the regular term repo program, followed by Government of Canada (GoC) treasury bill purchases.”
• “The Bank will restart its term repo program effective March 5, 2025… Initially, term repo operations will range between $2bln and S5bln.”
• “Treasury bill purchases will resume later this year and be conducted via GoC auctions.”
• “Purchases of GoC bonds will likely not need to start until towards the end of 2026 at the earliest.”

Other Changes

• “Effective January 30, the deposit rate will be set at a spread of 5bps below the Bank’s policy interest rate.”
• “This change… is being made to improve its effectiveness” and “support the functioning of short-term funding markets.”
• “Adjusting the deposit rate should also help mitigate some of the upward pressure that has been seen on the overnight rate relative to the Bank’s target rate.”
• “Effective January 30, when they are required. ORR operations will be conducted through a uniform price auction with an aggregate cash value amount… of a minimum of S8 billion and individual dealer limits for each ORR of $3 billion.”
• Reaction at 09:55
• USD/CAD moved from 1.4440 to 1.4420 before paring the entirety of the move; initial CAD strength potentially driven by the lack of explicit signal for further easing, increasing inflation forecasts and the accompanying statement from Macklem which highlights inflation is close to target and economic activity is increasing. Points which, alongside the uncertainty around future US tariffs, indicates the BoC may be done for now with a wait-and-see approach to tariffs and any economic fallout from them.

For now, the central bank sees inflation holding close to the 2% target well into 2026 and said the upside and downside risks to price pressures were “reasonably balanced.” Policymakers said they see evidence that rate cuts are helping to boost the economy through consumption and housing activity, and that existing excess supply would be “gradually absorbed” over the next few years. Still, the threat of a tariff war looms large, and is “clouding the economic outlook,” the bank said. Trump has repeatedly pledged to levy 25% tariffs as soon as this Saturday, and Canada’s government has vowed to retaliate.

Combined, the communications suggest the central bank isn’t likely to make further adjustments to monetary policy until the specifics of Trump’s trade policy become clearer. Absent that threat, Canada’s economy looks increasingly headed for a soft landing.

The Bank of Canada also cut its growth forecasts for both 2025 and 2026, citing the dampening effect of government policies designed to curb population growth.

In the accompanying monetary policy report, the central bank lowered its forecast for economic growth in 2025 due to the federal government’s lower immigration targets. The bank now expects the economy to expand 1.8% in 2025 and 2026, down from 2.1 and 2.3% in previous projections. The central bank trimmed estimates for business investment and exports, but boosted its consumption forecast. Annual inflation in 2025 will average 2.3%, up from 2.2% in October, due to less excess supply, stronger oil prices and higher import prices resulting from the lower Canadian dollar. Inflation in 2026 is seen averaging 2.1%, up from 2.0% the bank forecast in October.

In an accompanying monetary policy report, officials also produced forecasts independent of the tariffs, but also modelled a scenario examining how a prolonged trade dispute — in which the US and Canada impose 25% tariffs on each other — could disrupt the northern nation.

Overall, the impact of a trade battle would be higher prices in Canada, even as the economy was substantially weakened. In that scenario, the effect of price increases from higher import costs and a weaker loonie would more than offset the drag from falling exports, business investment and demand.

Officials also announced that the central bank would end quantitative tightening on March 5, when it says it will restart asset purchases “as part of normal balance sheet management.” Earlier this month, Deputy Governor Toni Gravelle had signaled the program would soon end.

Policymakers also made changes to deposit rate, which will now be set 5 basis points below the overnight rate as of Thursday, a move that’s likely meant to incentivize a better flow of settlement balances or reserves across financial market participants.
The bank estimated that interest rate divergence with the Federal Reserve was responsible for about 1% of the depreciation in the Canadian dollar since October.

Macklem and Senior Deputy Governor Carolyn Rogers will speak to reporters at 10:30 a.m. Ottawa time. The governor will also do an interview with Bloomberg Wednesday afternoon.

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS WEDNESDAY MORNING 6;30AM//OPENING AND CLOSING

EURO VS USA DOLLAR:  1.0402 DOWN 25 BASIS PTS

USA/ YEN 155.36 DOWN .198 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  STILL FALLS//END OF YEN CARRY TRADE BEGINS AGAIN OCT 2024/Bank of Japan raises rates by .15% to 1.15..UEDA ENDS HIKING RATES AND NOW CARRY TRADES RE INVENTS ITSELF//

GBP/USA 1.2419 DOWN .0020 OR 20 PTS

USA/CAN DOLLAR:  1.4437 UP 0.0036 (CDN DOLLAR DOWN 36 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED GOLDEN WEEK

 Hang Seng CLOSED GOLDEN WEEK

AUSTRALIA CLOSED UP 0.65%

 // EUROPEAN BOURSE:    MOSTLY ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  MOSTLY ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED

/SHANGHAI CLOSED

AUSTRALIA BOURSE CLOSED UP 0.65%

(Nikkei (Japan) CLOSED UP 397.91 PTS OR 1.02%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2756.50

silver:$30.46

USA dollar index early WEDNESDAY  morning: 107.95 UP 26 BASIS POINTS FROM  TUESDAY’s CLOSE.

WEDNESDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing WEDNESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.945% DOWN 0 in basis point(s) yield

JAPANESE BOND YIELD: +1.194% DOWN 0 AND 4/ 10   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.158 DOWN 0 in basis points yield

ITALIAN 10 YR BOND YIELD 3.630 DOWN 0 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.5525 UP 0 BASIS PTS

IMPORTANT CURRENCY CLOSES :  MID DAY FRIDAY

Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.0397 DOWN .0029 OR 29 basis points

USA/Japan: 155.25 UP 0.000 OR YEN IS DOWN 0 BASIS PTS//

Great Britain 10 YR RATE 4.6345 DOWN 1 BASIS POINTS //

Canadian dollar DOWN .0043 OR 43 BASIS pts  to 1.4446

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED XXXX (ON SHORE)..CHINA MUST DEVALUE TO GOLD  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. (7.2712)

TURKISH LIRA:  35.77 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//

the 10 yr Japanese bond yield  at +1.194

Your closing 10 yr US bond yield DOWN 3 in basis points from TUESDAY at  4.525% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.753 DOWN 3 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 4.193 DOWN 1  BASIS PTS.

GOLD AT 11;00 AM 2757.95

SILVER AT 11;00: 30.96

Your  11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: WEDNESDAY CLOSING TIME 11:00 AM//

London: CLOSED UP 23.94 pts or 0.28%

German Dax : UP 206.95 pts or 0.97% 

Paris CAC CLOSED DOWN 24.89 pts or 0.32%

Spain IBEX CLOSED UP 132.30 PTS OR 1.09%

Italian MIB: CLOSED UP 224.61 PTS OR 0.62%

WTI Oil price  73.35 11 EST/

Brent Oil:  80.15 11:00 EST

USA /RUSSIAN ROUBLE ///   AT:  98.99 ROUBLE UP 1 AND  00/100      

GERMAN 10 YR BOND YIELD; +2.5525 UP 0 BASIS PTS.

UK 10 YR YIELD: 4.6345 DOWN 1 BASIS POINTS

CDN 10 YEAR RATE: 3.194 DOWN 4 BASIS PTS.

CDN 5 YEAR RATE: 2.884 DOWN 5 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0416 DOWN 0.0011 OR 11 BASIS POINTS//HEADING TO PARITY WITH THE DOLLAR

British Pound: 1.2443 up 0.0001 OR 1 basis pts/HEADING FOR PARITY /USA

BRITISH 10 YR GILT BOND YIELD:  4.6570 UP 3 BASIS PTS//

JAPAN 10 YR YIELD: 1.193

USA dollar vs Japanese Yen: 155.25 DOWN .303 OR 30 BASIS PTS// HEADING FOR 160 TO THE DOLLAR

USA dollar vs Canadian dollar: 1.4424 UP .0021 BASIS PTS CDN DOLLAR DOWN 21 BASIS PTS

West Texas intermediate oil: 72.88

Brent OIL:  76.71

USA 10 yr bond yield UP 1 BASIS pts to 4.556

USA 30 yr bond yield UP 1 BASIS PTS to 4.796%

USA 2 YR BOND: UP 2 PTS AT  4.228

CDN 10 YR RATE 3.205 down 2 BASIS PTS

CDN 5 YEAR RATE: 2.883 DOWN 2 BASIS PTS

USA dollar index: 107.82 UP 13 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 35.79 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  99.24 up 1 AND  24/100 roubles

GOLD  2,754.30 (3:30 PM)

SILVER: 30.76 (3:30 PM)

DOW JONES INDUSTRIAL AVERAGE: DOWN 137.14 PTS OR 0.31%

NASDAQ 100 DOWN 53.79 PTS OR 0.25%

VOLATILITY INDEX: 16.61 UP 1.20 PTS OR 1.72%

GLD: $ 254.20 OR DOWN .98 PTS OR 0.38%

SLV/ $28.00 PTS OR UP 0.37 OR 1.34%

TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 40.82 PTS OR 0.16%

end

TRADING today ZEROHEDGE/FOMC

Hawkish Fed ‘Pauses’ Rate-Cuts As Expected, Reignites Inflation Fears

Wednesday, Jan 29, 2025 – 02:00 PM

Tl;dr: The Fed removed a portion of the statement that said inflation has made progress toward the central bank’s 2% goal.

That aligns with the more cautious tone officials have been taking on the inflation outlook.

Rate-cut expectations for 2025 are sliding lower (hawkish)…

“The Fed’s statement was somewhat hawkish relative to last month, so it isn’t surprising that the knee-jerk reaction was for some modest bear flattening,” Bloomberg Intelligence US interest rate strategists Ira Jersey and Will Hoffman say.

“As we also noted, the press conference may cause even more volatility than these modest shifts in the statement.”

*  *  *

Since the last FOMC meeting, on December 18th, The White House has changed hands with oil & gold outperforming as bond yields soar (prices drop)…

Source: Bloomberg

US macro surprise data is basically unchanged – soft and hard – since the last FOMC, but not before dropping before and recovering after Trump’s inauguration…

Source: Bloomberg

But, digging into the details, we see a rather notable rise in growth data surprises and downside inflation surprises…

Source: Bloomberg

The market has fully priced-in ZERO rate cuts today so there should be little to no surprise at all, and the market has recently shifted (dovishly) up to match The Fed’s dot-plot expectations of 2 x 25bp cuts this year……

Source: Bloomberg

…with the only potential shift being from Powell’s press conference leaving this as we noted previously, the “least anticipated Fed meeting in recent history.”

The Fed held rates flat (no cut) as expected:

• *FED HOLDS BENCHMARK RATE IN 4.25%-4.5% TARGET RANGE

But offered some more hawkish shifts:

• *FED: UNEMPLOYMENT ‘STABILIZED,’ LABOR MARKET REMAINS ‘SOLID’
• *FED REMOVES REFERENCE TO INFLATION MAKING PROGRESS TOWARD GOAL

That last point is by far the most noteworthy from the statement.

A strong labor market and no progress on inflation is not the recipe for rate-cuts any time soon.

Now, we all look for any hawkish or dovish tells from Powell during the press conference.

Read the full redlined statement below:

END

Wall Street Responds To The Fed’s Hawkish Pause

by Tyler Durden

Wednesday, Jan 29, 2025 – 02:50 PM

Coming into today’s FOMC meeting, consensus was that the Fed would unveil a dovish pause, instead what the Fed revealed was much more hawkish than many expected.

Below is a snapshot of some of the initial kneejerk reactions by Wall Street strategists and analysts.

Lindsay Rosner, Goldman Sachs Asset Management:

This is a new phase of the Fed’s easing cycle, given the strong growth and resilient labor market data providing scope for a more patient approach amid elevated data and policy uncertainty. The Fed’s easing cycle has not yet run its course, but the FOMC will want to see further progress in the inflation data to deliver the next rate cut highlighted by the fact they removed the reference on inflation making progress.

David Russell, Head of Market Strategy at TradeStation

The statement was a little hawkish, but policymakers are on hold with a long break until the March meeting. Data between now and then will set the tone for that next big decision. Today’s meeting is a non-event for Fed watchers. The central bank wants to be less of a factor over the next month as Trump takes the spotlight.

Ira Jersey, Bloomberg Intelligence US interest rate strategist

The Fed’s statement was somewhat hawkish relative to last month, so it isn’t surprising that the knee-jerk reaction was for some modest bear flattening (something we noted might occur in our preview)

Neil Dutta, Renaissance Macro

This press statement makes clear that the dominating risk is a passive tightening of monetary policy. The Fed is remarkably complacent. I don’t agree with their economic outlook. Housing is a mess and wage growth is slowing. Core inflation is likely to ease in the months ahead as rental disinflation comes more into focus.

Steve Chiavarone, Federated Hermes

The statement is a tad hawkish, especially with the softer-than-expected PPI and CPI this past month. The key here is Powell’s tone during the press conference. The problem with this Fed is that they have been backward looking. They are simply reflecting the inflation data of Q4 (which was hotter), rather than on focusing on the softer data more recently and a downward trajectory likely on inflation in the coming months. This means they are adding to volatility rather than dampening it at this point.

Ali Jaffery, CIBC Capital Markets

While Trump administration policies aren’t in the statement, they do add to arguments for holding off on rate changes for now. Uncertainty around trade policy has likely increased with repeated threats to Canada, Mexico and others. All of this adds to up to a Fed that is in ‘wait-and-see’ mode. We expect that to be part of Powell’s message today.

Seema Shah, Principal Asset Management.

Keeping policy rates on hold until a clear direction starts to emerge is sensible. But make no mistake, if next month brings a second consecutive soft inflation print, coupled with a slight weakening in jobs growth, we may start to hear a renewed dovish tone to Fedspeak, with near-term rate cuts back on the table.

Anna Wong and Stuart Paul, Bloomberg Economics

The rate hold was widely anticipated. More notable were hawkish edits to the statement – removing an acknowledgment that inflation had made progress toward the 2% target, and saying the unemployment rate has stabilized – that appear intended to signal the pause could be an extended one. That said, our baseline is for the Fed to deliver three rate 25-basis-point rate cuts this year – more than the 50 bps of total cuts the median FOMC member anticipates – as we expect the labor market to be weaker than the Fed projects. However, we think risks to this view are skewed toward the Fed remaining on hold for longer, or cutting fewer times this year.

David Rosenberg, Rosenberg Research

We think the Fed is going to end up being on the wrong side of the forecast. Job gains are far less ‘strong’ than has been characterized in this statement. All these job gains are in part-time employment and hiring rates have absolutely plummeted. The backlog of continuing claims has been on a discernible upward path and the consumer surveys have revealed a substantial loss in labor market confidence.

USA DATA

trade deficit for December widens!

(zerohedge)

Biden Leaves Office With All-Time-Record US Trade Deficit In December

Wednesday, Jan 29, 2025 – 08:50 AM

It wasn’t just his approval rating that was at a record low when President Biden left office; data from the Commerce Department today shows that Biden’s last month  in office saw the US merchandise-trade deficit widen to a record low (high). The shortfall in goods expanded 18% to $122.1 billion…

Source: Bloomberg

This was dramatically worse than the expected $105.5 billion…

Source: Bloomberg

Breaking down the details:

• Imports grew nearly 4% to $289.6 billion. 
• Exports decreased 4.5% to $167.5 billion.

Additionally, the Commerce Department report showed retail inventories slid 0.3% last month, the first drop in a year.

Inventories at car dealers fell 1.2%, marking the third straight decline after more than two years of gains. 

Stockpiles at wholesalers declined 0.5%.

The figures suggest trade will be a bigger drag on fourth-quarter gross domestic product, which will be reported on Thursday.

Prior to the data, the Atlanta Fed’s GDPNow forecast had net exports barely adding to GDP and inventories subtracting 0.23 percentage point.

US manufacturers remain challenged by weak overseas economies and a strong dollar that risk keeping the trade gap wide this year.

end

III USA ECONOMIC NEWS

new bill introduced to reduce sugary sodas

(zerohedge)

Ruh Roh, Pepsi… Republican Congressman Introduces FIZZ-NO Act To Nuke Soda From SNA

Wednesday, Jan 29, 2025 – 06:55 AM

Ahead of Robert F. Kennedy Jr.’s confirmation hearing for the role of Secretary of Health and Human Services, set to begin on Wednesday, the “Make America Healthy Again” movement gained momentum with a new bill called the “Zero for Zero Nutrition Options” (FIZZ-NO) Act, that was introduced by Rep. Keith Self (R-TX). 

On Tuesday, Congressman Self’s office published a press release detailing how the FIZZ-NO Act is a major effort to improve public health and reduce taxpayer costs by eliminating soda from the Supplemental Nutrition Assistance Program (SNAP).

“SNAP was originally created to help the poorest Americans access nutritious food,” Self stated, adding, “Allowing taxpayer dollars to subsidize sugary sodas, which offer zero nutritional value and contribute to costly health conditions, is counterproductive. The FIZZ-NO Act is a common-sense solution to strengthen public health and reduce the financial burden on taxpayers.”

Self on X wrote, “MAHA on the move!” 

Soda and toxic processed foods rammed down the throats of Americans, especially those using SNAP benefits, have become a massive healthcare burden, costing taxpayers upwards of $190 billion annually. 

According to the latest figures from the Centers for Disease Control and Prevention, about 40% of adults and 19% of children are obese, and there is a growing number of citizens who are morbidly obese because the food supply chain is controlled by globalist mega corps that push seed oils, sugar, and highly processed foods. 

The director of Budget Policy at EPIC, Matthew Dickerson, recently pointed out soda was the top SNAP purchase. 

Reforming SNAP-eligible purchases away from soda and highly processed foods to clean food is the first step to “Make America Healthy Again.”  

While PepsiCo does not publicly disclose specific revenue figures from soda and junk food purchased through SNAP, there is reason to believe the FIZZ-NO Act, if passed, could impact the company’s future earnings. One might wonder how much PepsiCo will spend in lobbying efforts in an attempt to derail MAHA. 

end

USA Columbia and all countries:

(Korybko)

The Example That Trump Made Out Of Colombia Will Reverberate Across The World

by Tyler Durden

Wednesday, Jan 29, 2025 – 03:30 AM

Authored by Andrew Korybko via substack,

Colombian President Gustavo Petro thought that he’d rebalance lopsided relations with his returning US counterpart by abruptly rejecting two previously agreed military flights for repatriating his country’s illegal immigrants but was ultimately taught an unforgettable lesson. Trump reacted with fury by threatening 25% tariffs that would double in a week’s time and sanctioning high-level officials on national security pretexts among other punitive measures, which quickly prompted Petro to capitulate.

White House Press Secretary Karoline Leavitt then confirmed her country’s victory in its brief dispute with Colombia, shortly after which Petro rage-tweeted a convoluted rant about imperialism and racism as a parting shot against Trump that was widely met with mockery online, especially from Americans. This short-lived scandal was significant since Trump proved how serious he is about leveraging tariffs and sanctions to coerce Ibero-American countries into accepting the return of their repatriated citizens.

He won the 2016 election in part because of his pledge to build a southern border wall for stopping illegal immigration, but after an estimated 8 million illegals flooded into the country during Biden’s term, he then promised to expel as many as possible if voters returned him to office like they ultimately did. It’ll be difficult to return all of them, however, which is why his administration wants to coerce them into voluntarily leaving on their own by creating extremely onerous conditions for those who remain.

To that end, repatriating some of them to their homelands on military flights – including in handcuffs like what just happened to some illegal immigrants from Brazil – is meant to intimidate them into returning back home on their own terms, ergo the importance of ensuring that these flights aren’t rejected. In parallel with this, the Trump Administration is exploring an agreement to deport asylum seekers to El Salvador, which is now globally known for its zero-tolerance of gang members.

On the topic, US-sanctioned Venezuela halted repatriation flights last February after briefly allowing their resumption in October 2023, so suspected Venezuelan gang members might be sent straight from the US to Salvadoran prisons if a deal is reached. Combined with an unprecedented ramping up of ICE raids across the country, those who remain in the US illegally will always have to look over their shoulder and fear either being deported back to their homelands or sent to El Salvador depending on who they are.

The Trump Administration rightly considers illegal immigration to be a national security threat, which explains Trump’s harsh reaction to Petro rejecting those two previously agreed military flights. If he didn’t make an example out of him, then most Ibero-American countries would predictably defy the US on this issue as well, thus ruining his ambitious repatriation plans. Trump therefore had to remind Colombia and every other country in the hemisphere that they’re the US’ junior partner.

Failure to submit to its reasonable demands that they receive their repatriated citizens who illegally immigrated to the US will entail crushing tariff and sanctions consequences that’ll risk harming their economies and greatly inconveniencing their political elite. Furthermore, disrespecting the US and Trump personally like Petro did is absolutely unacceptable in what Trump described as the nascent “Golden Age of America”, and those that do so will be made to pay the price, including reputationally.

The so-called “rules-based order” was never what the Biden Administration mispresented it as being with regard to the claim of every country supposedly being equal and having to follow the same rules.

It was always about maintaining the US’ declining unipolar hegemony in the emerging Multipolar World Order by reinforcing the post-Old Cold War international hierarchy atop which it sits. A carrot-and-stick approach pairs with explicit double standards to coax countries into falling in line with varying success.

Those that are dependent on the US market and/or military equipment like most Ibero-American countries are tend to bend to its will while those like Russia that are more autarkic and strategically autonomous tend to resist. The Obama and Biden Administrations tried to disguise this reality with lofty rhetoric and by sometimes turning a blind eye to transgressions from its partners like those Ibero-American countries that hitherto refused to accept their repatriated citizens, but Trump is more direct.

He has no compunction about openly reminding them of their junior status vis-à-vis the US since he’d rather that his country be feared than loved if he has to choose between them per Machiavelli. Additionally, Trump is preparing for negotiations with Putin over Ukraine as well as with Xi over trade and likely also Taiwan, so he’d appear weak in their eyes if he let middling leader like Petro publicly defy and even insult him without consequence.

These imperatives made him escalate with Colombia.

The example that Trump just made out of Petro will therefore reverberate across the world.

What he calls the “Golden Age of America” can more accurately be called the era of US hyper-realism in foreign affairs whereby it explicitly declares its interests and then aggressively pursues them without any care for global opinion.

Thus, it might be better for Russia and China to compromise with the US instead of challenge it if they won’t replicate this policy, or if they lack the same power or will to use it.

end

IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and  PERVASIVE ANTISEMITISM/WOKISM

iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES

END

FREIGHT ISSUES/USA/

END

VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON

VDH

END

KING REPORT

—

SWAMP STORIES FOR YOU TONIGHT

US Prosecutor Opens Probe Of DOJ’s Jan. 6 Cases

Tuesday, Jan 28, 2025 – 08:05 PM

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

A U.S. prosecutor said on Jan. 27 that he’s investigating why federal prosecutors brought a felony obstruction charge against hundreds of people involved in the Jan. 6, 2021, breach of the U.S. Capitol.

Ed Martin, interim U.S. attorney for the District of Columbia, in an internal email ordered a review of the matter, directing employees to hand over files, emails, and other documents.

Martin wrote that the use of the charge, obstruction of an official proceeding, was “a great failure of our office.” He ordered the supervisors to provide a preliminary report on the matter to him by Friday.

“We need to get to the bottom of it,” Martin wrote. He’s calling it the “1512 Project,” because the offense falls under that section of the law.

The U.S. Attorney’s Office for the District of Columbia, which is part of the U.S. Department of Justice (DOJ), did not respond to a request for more information.

Section 1512 of U.S. law prohibits people from obstructing, influencing, or impeding any official proceeding, or attempting to do so. It carries a prison term of up to 20 years.

Prosecutors with the U.S. attorney’s office in Washington charged about 260 people who were in or around the Capitol on Jan. 6 with obstructing an official proceeding.

Former police officer Joseph Fischer, one of the accused, challenged the charge in court. That led to a U.S. Supreme Court ruling that concluded prosecutors were interpreting the law too broadly.

“On the Government’s theory, Section 1512(c) consists of a granular subsection (c)(1) focused on obstructive acts that impair evidence and an overarching subsection (c)(2) that reaches all other obstruction,” Chief Justice John Roberts wrote for the majority. “Even setting surplusage aside, that novel interpretation would criminalize a broad swath of prosaic conduct, exposing activists and lobbyists alike to decades in prison.”

Before President Donald Trump took office, the government dropped the charge or asked the courts to vacate the charge against most of the defendants or convicts.

Trump pardoned about 1,500 people charged over Jan. 6.

Martin, since taking over the U.S. attorney’s office following Trump’s inauguration, has signed numerous court documents asking judges to dismiss charges against Jan. 6 defendants, pointing to Trump’s executive order.

His filing in the case of Oath Keepers founder Stewart Rhodes and some co-defendants prompted a judge to remove travel restrictions that had been imposed.

Martin, who attended Trump’s rally near the Capitol on Jan. 6, has served on the board of a group called the Patriot Freedom Project, which raised money to support Jan. 6 defendants and their families. He’s also listed in court filings as an attorney for at least three defendants, including one who pleaded guilty to felony charges.

Martin has written about Jan. 6 on his blog, saying he watched thousands of hours of video from that day.

“If you watch it for a while you realize that 99.9% of it is normal people doing normal things: sauntering around and through the Capitol grounds and building,” he wrote.

Alexis Loeb, the deputy chief of the DOJ section that prosecuted the Jan. 6 cases before leaving the government in 2024, said that Martin appears to be in his role “purely to execute on the president’s political priorities more so than the work of protecting public safety in Washington.”

Some people charged over Jan. 6 have expressed gratefulness to Martin. One person wrote on the social media platform X that she is now able to start the rest of her life with relief.

“My honor. Thank God not men,” Martin responded.

It’s unclear whether Trump intends to nominate Martin to the permanent post, which would require Senate confirmation. A White House spokesperson didn’t immediately respond to a text message about Martin on Monday.

The Associated Press contributed to this report.

end

Trump To Offer Buyouts To All Federal Workers

Tuesday, Jan 28, 2025 – 05:20 PM

Update (1750ET): According to CNBC, the buyout offer is for all 2 million federal workers. One senior administration official told the outlet that they expect 5-10% of the federal workforce to quit, which could lead to roughly $100 billion in savings.

*  *  *

In December, then-President-elect Donald Trump warned federal employees working from home that they would have to return to the office, or “they’re going to be dismissed.”

Now, according to Axios, the Trump administration will send out a memo Tuesday afternoon offering to pay federal workers who don’t want to return to the office, in what would amount to an 8-month severance through Sept. 30, a White House official tells the outlet.

“The government-wide email being sent today is to make sure that all federal workers are on board with the new administration’s plan to have federal employees in office and adhering to higher standards. We’re five years past COVID and just 6 percent of federal employees work full-time in office. That is unacceptable,” said the anonymous senior administration official.

More via Axios:

It’s not clear how many workers would be eligible for this offer, or how it would be paid for.

• According to guidance posted on OPMs website, in order to be eligible for severance pay workers must have completed at least “12 months of continuous service,” as well as meet other requirements.
• Political appointees aren’t eligible for severance, per the website.

Many federal workers are already feeling scared about the administration’s crackdown on DEI, its return-to-office policy and the effort to reclassify civil servants.

• That unease could increase take-up on this new offer.

Earlier on Tuesday, White House Press Secretary Karoline Leavitt said that the president has the authority to fire federal employees.

• While that is true about at-will political appointees, federal workers have more protections.
• Leavitt was defending Trump’s firings of at least a dozen agency inspectors general.

During the pandemic, approximately 2.3 million federal employees shifted away from traditional office spaces. This shift was not just a temporary adjustment, but a transformational move that many hoped would persist post-pandemic due to its perceived benefits in work-life balance and reduced operational costs.

The Biden administration, acknowledging these benefits, continued to support telework, facilitating the reduction of government-owned real estate and integrating flexible work arrangements into the fabric of federal employment. However, with Trump’s election, a quick pivot is on the horizon.

Unsurprisingly, Trump’s call for a return to office has been met with resistance from federal employees and unions. Approximately 56 percent of the civil service is covered under collective bargaining agreements that include telework provisions, while a full 10% of federal jobs are now designated as fully “remote,” according to the Washington Post.

END

good riddance to this doorknob

(zerohedge)

Pentagon To Investigate Milley And Possibly Demote Him – Security Clearance Pulled

Wednesday, Jan 29, 2025 – 11:45 AM

Defense Secretary Pete Hegseth is about to drop the hammer on retired Gen. Mark Milley, Trump’s former chairman of the joint chiefs of staff and one of the president’s favorite rhetorical punching bags. In addition to pulling Milley’s security clearance and yanking his personal security detail, Hegseth will also ask the Pentagon’s inspector general to investigate his conduct, and the probe could end in Milley receiving a demotion, Fox News reported Tuesday.  

The IG investigation will center on allegations that Milley worked to “undermine the chain of command” during the first Trump administration. The probe is certain to scrutinize two calls Milley made to senior Chinese officials in the last days of Trump’s first term. First reported by Bob Woodward in his book, “War,” the calls were apparently made with the goal of diffusing military tensions between the two powers, and were said to have had the blessing of other Trump officials. In 2023, Trump used a social media post to say that, by giving China “a heads up on the thinking of the president of the United States,” Milley had committed “an act so egregious that, in times gone by, the punishment would have been DEATH!”

Woodward also reported that, at a March 2023 reception in Washington, Milley told him that Trump was “fascist to the core!” Milley was still on active duty at the time, and Article 88 of the Uniform Code of Military Justice makes it a crime for commissioned officers to use “contemptuous words against the president.” Milley doesn’t have to worry about criminal prosecution: President Biden gave him a pre-emptive pardon that covers “any offenses against the United States” that were committed between January 1, 2014 and January 20, 2025.

Fox‘s sources suggest that Milley could lose one of his four stars. In addition to humiliation, that would also put a dent in Milley’s rich military pension. However, as The Intercept reported last year, he has plenty of opportunities to turn his past service into stacks of cash:

Since retiring from the military last year, former Chair of the Joint Chiefs of Staff Army Gen. Mark Milley has become a senior adviser to JPMorgan Chase bank, joined the faculties of Princeton and Georgetown, and embraced the lucrative paid speaking circuit. From military pay of $204,000 a year, Milley is sure to skyrocket to compensation in the millions, especially because he is represented by the same high-powered speakers’ agency as Hillary Clinton. 

Milley oversaw the long-overdue but disastrously-executed withdrawal of military forces from Afghanistan. The botched undertaking saw 13 US service-members killed, another 45 wounded, and the deaths of 170 Afghan civilians in a bombing at Kabul’s principal airport. It also resulted in the Taliban inheriting a huge arsenal of US weapons. In June 2021, Milley assured legislators that a withdrawal would look nothing like the US departure from Vietnam. “I don’t see Saigon 1975 in Afghanistan. The Taliban just aren’t the North Vietnamese Army,” he said. 

The first official manifestation of the new administration’s utter contempt for Milley came just hours after Trump was inaugurated. A brand-new painting of Milley that had just been unveiled on Jan. 10 was yanked from a Pentagon hallway. Fox reports that a second painting in a different hallway was to have been taken down as early as Tuesday night. 

Until Trump took office, the Secret Service had continued to guard Milley, former national security advisor John Bolton and former Secretary of State Mike Pompeo, on the chance that Iran may seek to kill them to avenge Trump’s Israel-assisted, Neta assassination of Iranian Gen. Qasem Soleimani via a 2020 drone strike in Iraq. Trump removed Pompeo and Bolton’s security details last week. Senior US officials frequently retain their security clearances well after they’ve left government, a practice that is supposedly aimed at facilitating transitions, enabling ongoing advice and counsel, and anticipating officials’ potential return to government.  

GREG HUNTERINTERVIEWING STEVE QUAYLE

Winter is Coming – Steve Quayle

By Greg Hunter On January 28, 2025 In Market Analysis9 Comments

By Greg Hunter’s USAWatchdog.com

Renowned radio host, filmmaker, book author and archeological dig expert Steve Quayle is warning of attacks coming from hidden dangers that will be unleashed by the demonic Deep State against America.  It’s not a matter of if but when.  Let’s start with the ongoing attack on our food supply.  Quayle says, “We are dealing with food disappearing from the shelves.  We are dealing with the attack on the farmers and ranchers.  We are dealing with the Federal Drug Assassins–the FDA.  We are dealing with the bureaucrats of the global elites’ plan to starve to death the earth’s population.  It’s time to sit up and notice . . . how the shelves are empty. . . .What’s going on behind the scenes, according to sources I know that are former military, former intelligence officers and people that are in the know, the point is we are facing starvation nation.”  Quayle says stay stocked up on food.

Then there is Artificial Intelligence (AI) that Wall Street is going crazy over.  There is talk of curing cancer in two days and other outrageous claims.  Quayle says don’t believe this.  Quayle says, “Just imagine AI as a supercharged Quija Board.  It’s not just a Quija Board, but it’s a hangout for evil spirits.  I think this is the intersection of the End of the Age, and we are dealing with supernatural intelligence that is all designed to mislead human beings and destroy them.”

Quayle also warns that earthquakes and volcanos are already getting more active.  Just today it’s reported that Hawaii’s Kilauea began its seventh episode of its ongoing eruption with video showing lava shooting more than 100 feet into the air.  Quayle says the real problem for the US is the Pacific Northwest in the Cascadia Mountain Range.  Quayle says, “The West Coast is in for a big one. . . . Cascadia is the real problem.”

In closing, Quayle says, “We are not going to avoid war. . . . The bottom line is the West is broke.  The West’s industrial line is done.  The powers that be in Germany bought the lie or were part of it, and that is to destroy their economy to bring about a global control grid called the New World Order.  There is always a bogus reason to deny the Living God.  Winter is coming.  That’s the theme from the Game of Thrones.  Winter represented the worst-case scenario and the worst-case scenario is not just near, it’s here.”

Quayle says get prepared.  Get ready and stay ready for anything.  Winter is coming.

There is much more in the 55-minute interview.

There is more in the 8-minute video here to explain how easy it is to ride out any cyberattack, fire, storm or disaster.  You can contact them at Sat123.com or BeReady123.com.

Join Greg Hunter of USAWatchdog.com as he goes one-on-one with Steve Quayle who talks about evil AI demons and America under attack from many directions. 1.28.25.

After the Interview:

SEE YOU ON THURSDAY