ACCESS MARKET
GOLD $4949.60 3:30 PM)
SILVER: 77.52 3;30 PM)
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EXCHANGE: COMEX
EXCHANGE: COMEX
CONTRACT: FEBRUARY 2026 COMEX 100 GOLD FUTURES
SETTLEMENT: 4,861.400000000 USD
INTENT DATE: 02/05/2026 DELIVERY DATE: 02/09/2026
FIRM ORG FIRM NAME ISSUED STOPPED
072 C GOLDMAN 2
099 H DEUTSCHE BANK AG 39
118 C MACQUARIE FUTURES US 4
190 H BMO CAPITAL MARKETS 141
323 C HSBC 8
363 H WELLS FARGO SECURITI 7
365 C MAREX CAPITAL MARKET 4
555 C BNP PARIBAS SEC CORP 1
555 H BNP PARIBAS SEC CORP 17
657 C MORGAN STANLEY 7
661 C JP MORGAN SECURITIES 172 140
685 C RJ OBRIEN 10
709 C BARCLAYS 270 2
880 H CITIGROUP 169
905 C ADM 3
TOTAL: 498 498
MONTH TO DATE: 32,502
JPMORGAN STOPPED 140/498
GOLD: NUMBER OF NOTICES FILED FOR FEBRUARY/2026: 498 CONTRACTs NOTICES FOR 49,800 OZ or 1.5489 TONNES
total notices so far: 32,502 contracts for 3,250,200 OR 101.094 tonnes)
SILVER NOTICES: 181 NOTICE(S) FILED FOR 0.905 MILLION OZ /
total number of notices filed so far this month : 3,744 CONTRACTS (NOTICES) for 18.720 million oz
SILVER//OUTLINE
INITIAL STANDING FOR JANUARY: 22.915 MILLION OZ FOLLOWED BY TODAY’S 1.185 MILLION OZ QUEUE JUMP//NEW NORMAL STANDING ADVANCES TO 49.445 MILLION OZ// TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK FOR .100 MILLION OZ//NEW STANDING ADVANCES TO 49.545 MILLION OZ!!
INTIAL STANDING FOR FEBRUARY/SILVER: 13.505 MILLION OZ FOLLOWED BY TODAY’S 1,510 MILLION OZ QUEUE JUMP//NEW STANDING FOR SILVER AT THE COMEX ADVANCES TO 20.655 MILLION OZ. BUT WE MUST ADD OUR FIRST EXCHANGE FOR RISK OF 25 CONTRACTS FOR .125 MILLION OZ AND THEN OUR SECOND EXCHANGE FOR RISK OF .0600 MILLION OOZ//
NEW TOTALS FOR SILVER OZ STANDING IS AS FOLLOWS
NORMAL STANDING 20.840 MILLION OZ
PLUS OUR 2 EXCHANGE FOR RISK: 185,000 OZ
EQUALS
20.840 MILLION OZ!! HUGE FOR A FEBRUARY
JULY: 50.925 MILLION OZ (QUITE SMALL)
AUGUST: 59.455 MILLION OZ (QUITE SMALL)
SEPT. 50.510 MILLION OZ.(QUITE SMALL)
OCT; 82.020 MILLION OZ (WILL BE STRONG THIS MONTH)/ OCC WANTS TO REIN IN THESE ISSUANCES!
NOVEMBER: 36.425 MILLION OZ
DEC: 45.765 MILLION OZ
JANUARY 2026: 134.270 MILLION OZ (WILL BE A VERY STRONG MONTH FOR EXCHANGE FOR PHYSICAL!)
FEB : 27.525 MILLION OZ
AND JULY: 46.720 MILLION OZ//
AUGUST: 4.70 MILLION OZ INITIAL STANDING PLUS TODAY;S 5,000 OZ QUEUE JUMP //NEW STANDING ADVANCES TO 10.960 MILLION OZ
SEPTEMBER: 68.040 MILLION OZ NORMAL DELIVERY(INCLUDES ALL QUEUE JUMPING AND EXCHANGE FOR PHYSICAL TRANSFERS) PLUS 3.0 MILLION OZ EX FOR RISK = 71.040 MILLION OZ. (THIS IS THE FIRST AND ONLY ISSUANCE OF EXCHANGE FOR RISK FOR SILVER SINCE MAY.)
OCTOBER: 39.565 MILLION OZ OF NORMAL DELIVERY INCLUDES ALL QUEUE JUMPING
PLUS
2.110 MILLION OZ EXCHANGE FOR RISK//TOTAL OZ STANDING IN OCT ADVANCES TO 41.675 MILLION OZ
NOVEMBER: INITIAL STANDING AT 11.575 MILLION OZ FOLLOWED BY TODAY’S 195,000 OZ QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 9.155 MILLION OZ//STANDING ADVANCES TO 19.670 MILLION OZ/
DECEMBER: INITIAL AMOUNT STANDING FOR DELIVERY: 49.33 MILLION OZ// FOLLOWED BY ANOTHER STRONG 835,000OZ QUEUE JUMP+ DEC. FIRST EXCHANGE FOR RISK 0F .850 MILLION OZ + LAST WEEK.S 495,000 OZ EXCHANGE FOR RISK AND THEN A 3RD ISSUANCE IF 1.00MILLION OZ THEN FINALLY DEC 249ISSUANCE OF 1.35 MILLION OZ EXCHANGE FOR RISK//NEW TOTAL EX FOR RIS IS 3.685 MILLION OZ // STANDING ADVANCES TO 68.415 MILLION OZ//
JANUARY: INITIAL STANDING 22.915 MILLION OZ FOLLOWED BY TODAY’S 1.185 MILLION OZ QUEUE JUMP//NORMAL STANDING ADVANCES TO 49.445 MILLION OZ// TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK OF 0.100 MILLLION OZ//NEW STANDING ADVANCES TO 49.545 MILLION OZ
FEB: 13.399 MILLION OZ IS OUR INITIAL STANDING FOR SILVER! TO WHICH WE ADD OUR NEXT QUEU JUMP OF 1.510 MILLION OZ F AND THEN ADD OUR 2 EXCHANGE FOR RISK FOR .185 MILLION OZ STANDING ADVANCES TO 20.540 MILLION OZ!!
- MAY: SUMMARY FOR MAY TONNES WHICH STOOD FOR DELIVERY:
4. AUGUST: 60.547 TONNES OF INITIAL GOLD FIRST DAY NOTICE FOLLOWED BY THE NET MONTH’S QUEUE JUMP OF 47.2312 TONNES TO WHICH WE ADD THE FOLLOWING EXCHANGE FOR RISK ISSUANCE RECEIVED FOR THE MONTH: 5.4432 TONNES EX FOR RISK/AUG 7 , AUG 11: 2.413 TONNES EX FOR RISK AND AUG. 12 OF 2.637 TONNES EX FOR RISK//AUG 25: 9.107 TONNES , AUGUST 26: 9.1010 TONNES AND NOW AUGUST 27: 9.0699 TONNES//NEW STANDING ADVANCES TO 107.5117 TONNES OF GOLD NORMAL STANDING (INCLUDES ALL MONTHLY QUEUE JUMPS/EX FOR PHYSICAL TRANSFERS//) +44.696 TONNES EX.FOR RISK = 152.208 TONNES
5.SEPT: INITIAL 8.093 TONNES OF GOLD PLUS TODAY’S QUEUE JUMP OF 0.4883 TONNES PLUS 2.2827 TONNES OF EXCHANGE FOR RISK TODAY//NEW TOTAL EX. FOR RISK/MONTH = 22.923//NEW TOTAL STANDING FOR GOLD SEPT ADVANCES TO = 48.801 TONNES!!
6.OCTOBER: 90.012 TONNES OF INITIAL GOLD STANDING WITH TODAY’S TINY 0.00311 TONNES QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS DURING OCT OF 76.1656 TONNES
THEN WE MUST ADD OUR 14.553 TONNES OF OUR ISSUANCE OF EXCHANGE FOR RISK/6 OCCASIONS//NEW TOTAL OF GOLD STANDING ADVANCES TO 197.5141 TONNES OF GOLD.
7.NOVEMBER BEGINS WITH 15.651 TONNES INITIALLY STANDING FOR DELIVERY FOLLOWED BY TODAY’S QUEUE JUMP OF 2.323 TONNES FOLLOWED BY ALL PREVIOUS QUEUE JUMPS IN OF OF 21.3775 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCE OF 4.5596 TONNES//NEW STANDING ADVANCES TO 43.9716 TONNES OF GOLD.
8. DECEMBER BEGINS WITH INITIAL STANDING OF 83.813 TONNES OF GOLD FOLLOWED BY TODAY’S 0.0TONNE QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF: 37.163 TONNES//NEW STANDING ADVANCES TO 115.390 TONNES TO WHICH WE ADD OUR 4 EXCHANGE FOR RISK FOR DECEMBER OF 6.587 TONNES/NEW STANDING ADVANCES TO 121.977 TONNES
9. JANUARY: INITITAL STANDING: 13.785 TONNES TO WHICH WE ADD OUR QUEUE JUMP OF 0.000 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 30.7117TONNES //NEW TOTAL QUEUE JUMPS 30.7117//NORMAL DELIVERY OF GOLD ADVANCES TO 36.8958 TONNES TO WHICH WE ADD OUR SIX EXCHANGE FOR RISK OF 22.315 TONNES//NEW STANDING ADVANCES TO 59.2108 TONNES.
FEB; INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 93.567 TONNES OF GOLD TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 1.138 TONNES TO OTHER OF 18.6731 TONNES/ NEW QUEUE JUMP TOTAL: 19.8111 TONNES// AND THEN WE ADD OUR FIRST EXCHANGE FOR RISK: 276 CONTRACTS OR .858 TONNES//NEW STANDING ADVANCES TO 114.258 TONNES
FINAL STANDING FOR GOLD, JANUARY CONTRACT AT 59.2108 TONNES OF GOLD
AND NOW FEBRUARY: INITIAL STANDING FOR GOLD: 114.258 TONNES!! WHICH INCLUDES ALL QUEUE JUMPING AND OUR FIRST EXCHANGE FOR RISK!!
JAN. 2025: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)
FEB: 207.21 TONNES//EX FOR PHYSICAL ISSUANCE (WILL BE A FAIR SIZED ISSUANCE THIS MONTH)
MARCH 130.84 TONNES//QUITE SMALL THIS MONTH.
APRIL; 208.57 TONNES. STRONG THIS MONTH
MAY: 113.499 TONNES OF GOLD EFP ISSUANCE//QUITE SMALL THIS MONTH
JUNE: 97.79 TONNES OF GOLD EFP ISSUANCE/EXTREMELY SMALL
JULY : 150.877 TONNES// QUITE SMALL
AUGUST: 175.86 TONNES A LOT LARGER THIS MONTH.
SEPT. 116.13 TONNES VERY SMALL
OCT. 252.72 TONNES//CERTAINLY MUCH LARGER THIS MONTH/VERY STRONG
NOV: 124.74 TONNES
DEC: 190.04 TONNES//GOOD SIZED THIS MONTH FINAL.
TOTAL EXCHANGE FOR PHYSICAL ISSUED FOR YEAR 2025: 2,026.20 TONNES (LOWER THAN LAST YR 2,569.00 TONNES
JANUARY: 209.08 TONNES (WILTONNES (WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL)
FEB. 66.883 TONNES (WHICH WILL BE ANOTHER STRONG)
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF OCT. 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 FELL BY A MEGA HUGE SIZED 5880 CONTRACTS OI TO 137,327 AND CLOSER TO 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 1531 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MAR 1531 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 0 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 5903 CONTRACTS AND ADD TO THE 1531 E.FP. ISSUED
WE OBTAIN A HUGE SIZED LOSS OF 4362 OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR LOSS OF $7.97
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 21.745 MILLION PAPER OZ
OCCURRED WITH OUR LOSS IN PRICE.OF $7.87
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 0 ENTRIES customer withdrawals: 2 ENTRIES i) out of Asahi: 24,949,705 oz (776 kilobars) ii) Out of HSBC 916 453.000 oz (3000 kilobars) total withdrawal: 121,402,705 oz or 3.772 tonnes |
| Deposit to the Dealer Inventory in oz | 0 ENTRIES |
| Deposits to the Customer Inventory, in oz | DEPOSITS/CUSTOMER 0 entry xxxxxxxxxxxxxxxxI |
| No of oz served (contracts) today | 498 notice(s) 49,800 OZ 1.5489 TONNES TONNES OF GOLD |
| No of oz to be served (notices) | 3956 contracts 395,600 OZ 12.304 TONNES |
| Total monthly oz gold served (contracts) so far this month | 32,502 notices 3,250,200 oz 101.094 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month |
dealer deposits: 0
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DEPOSITS/CUSTOMER
0
customer withdrawals:
2 ENTRIES
2 ENTRIES
i) out of Asahi: 24,949,705 oz (776 kilobars)
ii) Out of HSBC 916 453.000 oz (3000 kilobars)
total withdrawal: 121,402,705 oz or 3.772 tonnes
they are draining the comex of gold
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ADJUSTMENTs 7
ALL DEALER TO CUSTOMER:
a) Out of Asahi: 91,456.322 OZ oz
b) Out of Brinks: 42,996.063 oz
c) Out of HSBC 214,668.297
d) Out of JPMorgan: 38,631.131 oz
e) Out of Loomis 7,562.056 oz
e) Out of Malca: 385.812 oz
f) Manfra 26,689.738 oz
total adjusted out of dealer (reg) to eligible (customer) = 422,388.429 oz or 13.13 tonnes
chaos inside the comex
AMOUNT OF GOLD STANDING FOR FEBRUARY
THE FRONT MONTH OF FEBRUARY STANDS AT 4454 CONTRACTS FOR A LOSS OF 2326 CONTRACTS.
WE HAD 2692 CONTRACTS SERVED ON THURSDAY, SO WE GAINED A HUGE 336 CONTRACT–
QUEUE JUMP FOR 33,600 OZ OR 1.138 TONNES
MARCH SAW A LOSS OF 213 CONTRACTS DOWN TO 4888 CONTRACT OI AS MARCH BECOMES THE NEW FRONT MONTH FOR GOLD AND EXPECT TO HAVE A STANDING OF AROUND 13 TONNES FO GOLD
APRIL IS THE NEXT LARGEST DELIVERY MONTH AND IT LOST 4054 CONTRACTS DOWN TO 280,772 CONTRACTS
We had 498 contracts filed for today representing 49,800 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 132 notices issued from their client or customer account. The total of all issuance by all participants equate to 498 contract(s) of which 140 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for FEB /2026. contract month, we take the total number of notices filed so far for the month (32,502) to which we add the difference between the open interest for the front month of FEB ( 4454 CONTRACTS) minus the number of notices served upon today (498 x 100 oz per contract) equals 3,645,800 OZ OR (113.399 Tonnes of gold) to which we add February’s first exchange for risk of 276 contracts or 27600 oz or .858 tonnes//new total gold standing in Feb increases to 114.258 tonnes.
thus the INITIAL standings for gold for the FEB contract month: No of notices filed so far (32,502 x 100 oz +we add the difference for front month of FEB (4454 OI} minus the number of notices served upon today (498 x 100 oz) which equals 3,645,800 OR 113.399 TONNES// to which we add our first exchange for risk//27600 oz or .858 tonnes//new standing advances to 114.258 tonnes!!!
new total of gold standing in FEB is 114.258 TONNES//
TOTAL COMEX GOLD STANDING FOR FEB 114.258 TONNES TONNES WHICH IS STRONG FOR THIS NORMALLY VERY NON ACTIVE ACTIVE DELIVERY MONTH OF JANUARY.
volume THURSDAY confirmed 267,752 fair/
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: 1,834,196.914 oz 57.05 tonnes pledged gold lowers
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 35,370,216.368 oz oz
TOTAL REGISTERED GOLD 18,370,216.368 or 571.39 Tonnes
TOTAL OF ALL ELIGIBLE GOLD 16,990,889.111//eligible gold leaving hand over fist
REGISTERED GOLD THAT CAN BE SERVED UPON 16,536,020 oz ((REG GOLD- PLEDGED GOLD)=
514.339 Tonnes // (declining rapidly)
total inventories in gold declining rapidly
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SILVER/COMEX
FEB 6 2026
INITIAL/
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 5 entries i) out of Asahi: 1,244,595.280 oz ii) out of CNT 771,964.556. oz iii) Out of HSBC 452,652.977 iv) Out of Manfra 1,507,865.720 oz v) Out of Stonex: 122,989.730 oz total withdrawal: 4,099,665.263 oz the comex is being drained of silver |
| Deposits to the Dealer Inventory | 1 ENTRY nil entries xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx |
| Deposits to the Customer Inventory | 1 ENTRIES i) Into Brinks : 601,621.972 oz total deposit: 601,621.972 oz |
| No of oz served today (contracts) | 181 CONTRACT(S) ( 0.905 million OZ |
| No of oz to be served (notices) | 387 Contracts (1.935 MILLION oz) |
| Total monthly oz silver served (contracts) | 3744 contracts 18.720 MILLION oz |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
DEPOSITS INTO DEALER ACCOUNTS
0 ENTRY
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DEPOSIT ENTRIES/CUSTOMER ACCOUNT
1 ENTRIES
i) Into Brinks : 601,621.972 oz
total deposit: 601,621.972 oz
withdrawals: customer side/eligible
5 entries
i) out of Asahi: 1,244,595.280 oz
ii) out of CNT 771,964.556. oz
iii) Out of HSBC 452,652.977
iv) Out of Manfra 1,507,865.720 oz
v) Out of Stonex: 122,989.730 oz
total withdrawal: 4,099,665.263 oz
the comex is being drained of silver
the comex is being drained of silver
adjustments: / / 3
all dealer to customer:
a) Asahi 458,859.400 oz
b) Stonex: 141,469.560 oz
c) CNT 383,865.024 oz
net loss from dealer to customer acc’t : 0.984 million oz
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TOTAL REGISTERED SILVER: 102.547MILLION OZ//.TOTAL REG + ELIGIBLE. 394.511 Million oz
registered silver dropping in numbers
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JANUARY
silver open interest data:
FRONT MONTH OF FEB /2026 OI: 568 OPEN INTEREST CONTRACTS FOR A LOSS OF 266 CONTRACTS.
WE HAD 608 NOTICES FILED ON THURSDAY SO WE GAINED 302 CONTRACTS OR A HUGE 302 CONTRACT QUEUE JUMP FOR 1.510 MILLION OZ
MARCH LOST 5317 CONTRACTS DOWN TO 80,502. THIS BECOMES THE FRONT MONTH FOR SILVER DELIVERY
APRIL GAINED 25 CONTRACTS TO AN OI 433 CONTRACTS.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 181 or 0.905 MILLION oz
CONFIRMED volume; ON THURSDAY 208,656 mammoth+++//
AND NOW FEB. DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in FEBRUARY. we take the total number of notices filed for the month so far at 3744 X5,000 oz = 18.720 MILLION oz
to which we add the difference between the open interest for the front month of FEBRUARY (568) AND the number of notices served upon today (181)x (5000 oz)
Thus the standings for silver for the FEBRUARY 2026 contract month: (3744)Notices served so far) x 5000 oz + OI for the front month of FEB(568) minus number of notices served upon today (181 )x 5000 oz equals silver standing for the FEB..contract month equating to 20.635 MILLION OZ. THEN WE MUST ADD OUR FIRST EXCHANGE FOR RISK TOTALS OF 25 CONTRACTS FOR .125 MILLION OZ TO TODAY’S 12 CONTRACT ISSUANCE//NEW TOTAL EXCHANGE FOR RISK 37 CONTRACTS FOR .185 MILLION OZ//NEW STANDING ADVANCES TO 20,84 MILLION OZ
NEW STANDING: 20.84 MILLION OZ WHICH IS HUGE FOR A GENERALLY SMALL DELIVERY MONTH OF FEBRUARY.
New total standing: 20.84 million oz. THE SILVER COMEX IS NOW UNDER MASSIVE SIEGE!! AND THIS IS HAPPENING WITH THE MASSIVE SIEGE ON GOLD AS WELL.
We must also keep in mind that there is considerable silver standing in London coming from our longs in New York that underwent EFP transfers.
There are 102.547 million oz of registered silver
JPMorgan as a percentage of total silver: 168.864/394.511.million: 42.69%
THERE IS NOW A RUN ON THE COMEX 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.
END
BOTH GLD AND SLV ARE MASSIVE FRAUD
FEB 6/2026/WITH GOLD UP $86.55 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 4.00 TONNES OF GOLD FROM THE GLD/ /// ///INVENTORY RESTS AT 1077.95 TONNES
FEB 5/2026/WITH GOLD DOWN $57.30 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.43 TONNES OF GOLD FROM THE GLD/ /// ///INVENTORY RESTS AT 1081.95 TONNES
FEB 4/2026/WITH GOLD UP $17.20 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 3.72 TONNES OF GOLD FROM THE GLD/ /// ///INVENTORY RESTS AT 1083.38 TONNES
FEB 3/2026/WITH GOLD UP $270.80 TODAY/NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 1087.10 TONNES
FEB 2/2026/WITH GOLD DOWN $100.15 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.57 TONNES OF GOLD INTO THE GLD /// ///INVENTORY RESTS AT 1087.10 TONNES
JAN 30/2026/WITH GOLD DOWN $590.55 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 3.43 TONNES OF GOLD OUT OF THE GLD /// ///INVENTORY RESTS AT 1086.63 TONNES
JAN 30/2026/WITH GOLD DOWN $590.55 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 3.43 TONNES OF GOLD OUT OF THE GLD /// ///INVENTORY RESTS AT 1086.63 TONNES
JAN 29/2026/WITH GOLD UP $23.65 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.58 TONNES OF GOLD INTO THE GLD /// ///INVENTORY RESTS AT 1089.96 TONNES
JAN 28/2026/WITH GOLD UP $218.00 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.85 TONNES OF GOLD INTO THE GLD /// ///INVENTORY RESTS AT 1087.38 TONNES
JAN 27/2026/WITH GOLD UP $2.55 TODAY/NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 1086.53 TONNES
JAN 26/2026/WITH GOLD UP $106.10 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 6.89 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 1086.53 TONNES
JAN 23/2026/WITH GOLD UP $69.05 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSUT OF 2.000 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 1079.66 TONNES
JAN 22/2026/WITH GOLD UP $75.20 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A FRAUDULENT WITHDRAWAL OF 4.000 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 1077.66 TONNES
JAN 21/2026/WITH GOLD UP $74.30 TODAY/NO CHANGES IN GOLD AT THE GLD:/// ///INVENTORY RESTS AT 1081.66 TONNES
JAN 20/2026/WITH GOLD UP $142.90 TODAY/BIG CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 6.86 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 1081.66 TONNES
JAN 16/2026/WITH GOLD DOWN $27.80 TODAY/BIG CHANGES IN GOLD AT THE GLD: A DEPOSIT OF .57 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 1074.807TONNES
JAN 15/2026/WITH GOLD DOWN $9.85 TODAY/NO CHANGES IN GOLD AT THE GLD/// ///INVENTORY RESTS AT 1074.737TONNES
JAN 14/2026/WITH GOLD UP $34.35 TODAY/NO CHANGES IN GOLD AT THE GLD/// ///INVENTORY RESTS AT 1074.737TONNES
JAN 13/2026/WITH GOLD DOWN$11.00 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A MASSIVE DEPOSIT OF 3.43 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 1074.737TONNES
JAN 12/2026/WITH GOLD UP $104.90 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A MASSIVE DEPOSIT OF 6.25 TONNES OF GOLD INTO THE GLD/// ///INVENTORY RESTS AT 1070,80TONNES
JAN 9/2026/WITH GOLD UP $49.30 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.58 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 1064.55 TONNES
JAN 8/2026/WITH GOLD DOWN $0.80 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.00 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 1067.13 TONNES
JAN 7/2026/WITH GOLD DOWN $38.50 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.00 TONNES OF GOLD FROM THE GLD/// ///INVENTORY RESTS AT 1067.13 TONNES
JAN 6/2026/WITH GOLD UP $47.00 TODAY/BIG CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 5.43 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1065.13 TONNES
JAN 5/2026/WITH GOLD UP $122.80 TODAY/BIG CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 5.43 TONNES OF GOLD OUT OF THE GLD// /// ///INVENTORY RESTS AT 1065.13 TONNES
JAN 2/2026/WITH GOLD DOWN $10.10 TODAY/BIG CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.43 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1070.56 TONNES
DEC 31/WITH GOLD DOWN $42.50 TODAY/SMALL CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.86 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1071,99 TONNES
DEC 30/WITH GOLD UP $41.50 TODAY/NO CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 0.86 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1071,99 TONNES
DEC 29/WITH GOLD DOWN $190.70 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.86 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1071,13 TONNES
DEC 26/WITH GOLD UP $39.15 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3.61 TONNES OF GOLD INTO THE GLD// /// ///INVENTORY RESTS AT 1068.27 TONNES
DEC 24/WITH GOLD UP $2.15 TODAY/NO CHANGES IN GOLD AT THE GLD: /// ///INVENTORY RESTS AT 1064.66 TONNES
DEC 23/WITH GOLD UP $52.85 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A FRAUDULENT DEPOSIT OF 12.12 TONNES OF GOLD INTO THE GLD/// /// ///INVENTORY RESTS AT 1064.66 TONNES
DEC 22/WITH GOLD UP $80,25 TODAY/NO CHANGES IN GOLD AT THE GLD: // /// ///INVENTORY RESTS AT 1052.54 TONNES
GLD INVENTORY: 1077.95 TONNES, TONIGHTS TOTAL
SILVER
FEB 6 WITH SILVER UP 0.08 A HUGE WITHDRAWAL OF 3.942 MILLION OZ FROM THE SLV://. ./ :INVENTORY RESTS AT 522.367 MILLION OZ
FEB 5 WITH SILVER DOWN $7.87 A HUGE WITHDRAWAL OF 2.175 MILLION OZ FROM THE SLV://. ./ :INVENTORY RESTS AT 526.309 MILLION OZ
FEB 4 WITH SILVER UP $2.02 A HUGE WITHDRAWAL OF 3.551 MILLION OZ FROM THE SLV://. ./ :INVENTORY RESTS AT 528.484 MILLION OZ
FEB 3 WITH SILVER UP $6.11 A MASSIVE MASSIVE PAPER AND FRAUUDULENT 32.898 CHANGES IN SILVER AT THE SLV://. ./ :INVENTORY RESTS AT 531.985 MILLION OZ
FEB 2 WITH SILVER DOWN $1.32 NO CHANGES IN SILVER AT THE SLV://. ./ :INVENTORY RESTS AT 499.087 MILLION OZ /
JAN 30 WITH SILVER DOWN $37.04 HUGE CHANGES IN SILVER AT THE SLV:A FRAUDULENT WITHDRAWAL OF 3.625 MILLION OZ FROM THE SLV////. ./ :INVENTORY RESTS AT 499.087 MILLION OZ /
JAN 29 WITH SILVER UP $2.80 HUGE CHANGES IN SILVER AT THE SLV:A FRAUDULENT WITHDRAWAL OF 6,798 MILLION OZ FROM THE SLV////. ./ :INVENTORY RESTS AT 502.712 MILLION OZ /
JAN 28 WITH SILVER UP $5.60 HUGE CHANGES IN SILVER AT THE SLV:A WITHDRAWAL OF 4.078 MILLION OZ FROM THE SLV////. ./ :INVENTORY RESTS AT 509.510 MILLION OZ /
JAN 27 WITH SILVER DOWN $7.00 HUGE CHANGES IN SILVER AT THE SLV:A WITHDRAWAL OF 4.17 MILLION OZ FROM THE SLV////. ./ :INVENTORY RESTS AT 513.598 MILLION OZ /
JAN 26 WITH SILVER UP $12.92 HUGE CHANGES IN SILVER AT THE SLV:A WITHDRAWAL OF 0.454 MILLION OZ FROM THE SLV////. ./ :INVENTORY RESTS AT 517.758 MILLION OZ /
JAN 23 WITH SILVER UP $4.91 HUGE CHANGES IN SILVER AT THE SLV:A WITHDRAWAL OF 1.998 MILLION OZ FROM THE SLV////. ./ :INVENTORY RESTS AT 517.758 MILLION OZ /
JAN 22 WITH SILVER UP $3.20 HUGE CHANGES IN SILVER AT THE SLV:A WITHDRAWAL OF 1.812 MILLION OZ FROM THE SLV////. ./ :INVENTORY RESTS AT 519.752 MILLION OZ /
JAN 21 WITH SILVER DOWN $1.44 NO CHANGES IN SILVER AT THE SLV://. ./ :INVENTORY RESTS AT 521.564MILLION OZ /
JAN 20 WITH SILVER DOWN $4.24 HUGE CHANGES IN SILVER AT THE SLV: A MASSIVE AND CRIMINAL DEPOSIT OF 5.166 MILLION OZ INTO THE SLV///. ./ :INVENTORY RESTS AT 521.564MILLION OZ /
JAN 16 WITH SILVER DOWN $4.24 HUGE CHANGES IN SILVER AT THE SLV: A MASSIVE AND CRIMINAL WITHDRAWAL OF 5.401 MILLION OZ FROM THE SLV///. ./ :INVENTORY RESTS AT 516.298MILLION OZ //
JAN 15 WITH SILVER UP $1.00 HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 2.538 MILLION OZ FROM THE SLV///. ./ :INVENTORY RESTS AT 522.199MILLION OZ //
JAN 14 WITH SILVER UP $4.64 NO CHANGES IN SILVER AT THE SLV: /. ./ :INVENTORY RESTS AT 524,737MILLION OZ //
JAN 13 WITH SILVER UP $1.70 HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 0.816MILLION OZ OUT OF THE SLV OZ INTO THE SLV. /. ./ :INVENTORY RESTS AT 524,737MILLION OZ //
JAN 12 WITH SILVER UP $5.50 HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 1.229MILLION OZ INTO THE SLV OZ INTO THE SLV. /. ./ :INVENTORY RESTS AT 525,598MILLION OZ //
JAN 9 WITH SILVER UP $4.15 HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 6.119 MILLION OZ INTO THE SLV OZ FROM THE SLV. /. ./ :INVENTORY RESTS AT 524.329MILLION OZ //
JAN 8/WITH SILVER DOWN $2.40/HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 10.481 MILLION OZ OUT OF THE SLV OZ FROM THE SLV. /. ./ :INVENTORY RESTS AT 518.210MILLION OZ //
JAN 7/WITH SILVER DOWN $2.78/HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 10.481 MILLION OZ OUT OF THE SLV OZ FROM THE SLV. /. ./ :INVENTORY RESTS AT 525.730 MILLION OZ //
JAN 6/WITH SILVER UP $4.93 /SMALL CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 363,000 OZ FORM THE SLV. /. ./ :INVENTORY RESTS AT 528.691 MILLION OZ //
JAN 6/WITH SILVER UP $4.93 /SMALL CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 363,000 OZ FORM THE SLV. /. ./ :INVENTORY RESTS AT 528.691 MILLION OZ //
JAN 5/WITH SILVER UP $5.90 /SMALL CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 363,000 OZ FORM THE SLV. /. ./ :INVENTORY RESTS AT 528.691 MILLION OZ //
JAN 2/WITH SILVER UP $0.22 /HUGE CHANGES IN SILVER AT THE SLV: A SMALL WITHDRAWAL OF 0.363 MILLION OZ OUT THE SLV/. ./ :INVENTORY RESTS AT 529.054 MILLION OZ //
DEC 31/WITH SILVER DOWN $6.41 /HUGE CHANGES IN SILVER AT THE SLV: A MASSIVE DEPOSIT OF 4.806 MILLION OZ INTO THE SLV/. ./ :INVENTORY RESTS AT 529.054 MILLION OZ //
DEC 30/WITH SILVER UP $6.89 /HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 2.72 MILLION OZ FROM THE SLV/. ./ :INVENTORY RESTS AT 524.248 MILLION OZ //
DEC 29/WITH SILVER DOWN $5.88 /HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 1.814 MILLION OZ FROM THE SLV/. ./ :INVENTORY RESTS AT 526,968 MILLION OZ //
DEC 26/WITH SILVER UP $4.88 /HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 1.813 MILLION OZ FROM THE SLV/. ./ :INVENTORY RESTS AT 528.782 MILLION OZ //
DEC 24/WITH SILVER UP $0.95 /HUGE CHANGES IN SILVER AT THE SLV: A WITHDRAWAL OF 3.083 MILLION OZ FROM THE SLV/. ./ :INVENTORY RESTS AT 530.595MILLION OZ //
DEC 23/WITH SILVER UP $2.40 /HUGE CHANGES IN SILVER AT THE SLV: A FRAUDULENT DEPOSIT OF 17.13 MILLION OZ INTO THE SLV/. ./ :INVENTORY RESTS AT 533.678 MILLION OZ //
DEC 22/WITH SILVER UP $1.28 /HUGE CHANGES IN SILVER AT THE SLV: A DEPOSIT OF 1.541 MILLION OZ INTO THE SLV/. ./ :INVENTORY RESTS AT 516.541 MILLION OZ //
DEC 19/WITH SILVER UP $2.06 /NO CHANGES IN SILVER AT THE SLV: . ./ :INVENTORY RESTS AT 515.000 MILLION OZ //
DEC 18/WITH SILVER DOWN $1.13/NO CHANGES IN SILVER AT THE SLV: . ./ :INVENTORY RESTS AT 515.000 MILLION OZ //
CLOSING INVENTORY 522.367 MILLION OZ OF SILVER…
PHYSICAL GOLD/SILVER
1/PETER SCHIFF
JOHN RUBINO
MATHEW PIEPENBERG/EGON VON GREYERZ
ALASDAIR MACLEOD
Stackers smiling, traders trounced
The disconnection between physical reality and derivative volatility became obvious in gold and silver pricing this week. No silver? No matter. Futures carry on regardless.
| Alasdair MacleodFeb 6∙Paid |
This week has seen price instability in gold and particularly silver. This morning in European trade gold was $4875, up $210 from last Friday’s close and silver at $73.80 is down $11.60 having been as high as $92 on Wednesday.
Contrary to most commentary, speculative interest in both metals Comex contracts is very low, in gold’s case the lowest it has been this decade:
So, what is happening?
The fundamental reasons for stacking gold still apply. Furthermore, most of the big US banks are forecasting higher gold prices over 2026 with their investment funds seriously underweight. And reliable anecdotal evidence is that larger investors are taking the opportunity to buy more physical gold (and silver if they can get it) and are not put off by current developments. This is important, because it isolates the cause of price volatility as a function purely of derivatives.
In the absence of speculative buying interest from hedge funds, we can’t rule out speculative shorting. This is not reflected in Comex open interest, because it allows the swaps (market makers and bullion bank traders who normally take the short side) to close their shorts rather than create new contracts.
We await tonight’s Commitment of Traders report to assess the extent of these shifts. But if so, then the swaps have got a temporary get-out-of-jail card. But hedge funds are likely to be squeezed badly as well when the current hiatus subsides. This squeeze generated by physical demand on derivatives was first noticed in London’s silver forward market in early-October but could now be shifting to Comex.
This morning, the March silver contract stands at 80,479 on preliminary estimates, which compares with only 20,706 contracts equivalent registered in Comex vaults for delivery. In a normal market, we would expect this contract to be either closed or rolled into May which is the next active contract. But speculative interest, which is what normally gets rolled or closed, is extremely low, reflected in our next chart:
It’s about as low as it gets. But if it’s not speculative interest, then a good portion of those 80,479 contracts will stand for delivery, in which case there’s a significant possibility of contract failure. This might not happen because large bullion banks such as JPMorgan will probably find some silver from somewhere to augment registered stocks. But that is borrowing from Peter to pay Paul, adding to all the other leased and swapped obligations to be unwound. It is extremely unlikely that silver prices will remain this low with this deferred buying of physical overhanging the market.
Therefore, the squeeze on London and Comex continues, and is probably made significantly worse by a near-halving of the silver price entirely due to derivative instability.
Meanwhile, gold, which has suffered similarly from derivative shenanigans, has held up better than silver and as its chart plotted logarithmically illustrates it is not too far from trend:
Its price consolidation comes ahead of Japan’s snap general election on Sunday. Prime Minister Sanae Takaichi is strong favourite to win a clear mandate and will go ahead with her reflationary plans. She promises to use the funds to suppress price inflation, the idea being to take pressure off the Bank of Japan to raise rates. But printing money to curb inflation only leads to higher inflation, higher bond yields, and ultimately higher interest rates.
As the world’s principal supplier of capital, Japanese insurance companies and pension funds will be less receptive to buying US, EU, and UK debt as their bond yields resume their rise post-election. Therefore, it could become a different financial environment from next week onwards, including a deteriorating outlook for US debt financing.
Macro-economic figures released this week suggest a stalling US economy, which shows sign of destabilising the tech bubble and more particularly the associated super bubble which is bitcoin. Neo-Keynesian investment and hedge-fund managers take it all as a signal that the Fed can reduce interest rates earlier, reflected in US treasury bond yields easing slightly.
That is a mistake born out of a misunderstanding that bond yields ease in a recession. Instead, dollar bond yields are set to rise reflecting increasing supply of debt without the tax income to fund it.
We’ll see what the foreign holders of $44 trillion and underlying financial assets make of that, in the context of the US dollar debt trap being slammed firmly shut!
end
3. CHRIS POWELL AND HIS GATA DISPATCHES:
LIVE FROM THE VAULT YOU TUBE: 258 AND 257
TODAY CRAIG HEMKE
5. COMMODITY REPORT/COFFEE
Six-Month Low In Coffee Futs Signals Potential Relief After Beans On Amazon Surge
Thursday, Feb 05, 2026 – 05:20 PM
Tracking a single brand of dark-roast arabica beans on Amazon via the price-tracking website CamelCamelCamel shows that a 2.2-pound bag has nearly doubled in price since August.
For American consumers, paying roughly twice as much for the same bag of coffee beans in just six months is a price shock, even if it is still cheaper than visiting Starbucks daily.
There may finally be some relief in sight. Arabica coffee futures have fallen to a six-month low, raising some hopes that bean prices may have topped out for now.
The most-active New York contract slid to a six-month low on Thursday, falling as much as 2.3% to about $3.10 a pound.
Bloomberg reports this decline was driven by a sharp rebound in exchange inventories, with coffee deliveries doubling over the past two weeks. That restocking has eased fears over near-term supply tightness that previously sent prices surging to nearly $4.5 a pound in 2025.
There is more good news: Favorable weather in Brazil, the world’s top coffee exporter, suggests more supply is near for the next harvest season.
Analysts at investment bank Itaú BBA told clients that traders are closely monitoring weather conditions in Brazil, where forecasts for continued, crop-friendly rains could further improve supply outlooks. If those rains materialize, speculative traders may further unwind bullish positions, adding to the downward pressure on coffee futures.
END
SILVER MICHAEL OLIVER;
WIDELY WATCHED MICHAEL OLIVER:
Michael Oliver Bombshell: Silver’s “Rebirth” After Smackdown – $500 Silver by Summer, $8,000 Gold
by ITM Trading
Friday, Feb 06, 2026 – 12:07
Michael Oliver isn’t mincing words. The U.S. sovereign debt market, he warns, is sitting on a trapdoor, with dynamics increasingly resembling Japan’s long grind into bond-market dysfunction. What many traders dismissed as a “jiggle in the middle” in gold and silver wasn’t a top—it was a forced shakeout before liftoff.
As paper assets fracture, capital is rotating hard. The dollar is breaking down, commodities are breaking out, and global bond markets are flashing crisis signals simultaneously. In this environment, Oliver says legacy indicators are useless. Silver isn’t “overbought”—it’s being repriced. His call: $300 to $500 silver by summer. Not a bubble. A reset.
Follow Daniela on X: Daniela Cambone
About ITM Trading: ITM Trading has been a trusted leader in precious metals for over 28 years, helping clients protect and grow their wealth with custom gold and silver strategies designed for economic downturns and currency resets.
END
SILVER/GOLD, PLATINUM
GOLD , SILVER OR PLATINUM LEASE RATES
HUGE INCREASE
| Robert Lambourne | 7:32 AM (48 minutes ago) | ||
to me | |||
Harvey,
Thanks for your efforts. We are living in really interesting times.
Here is a collection of material which will hopefully be of interest.
1. Chinese AI gave what I feel is an informative reply to a question on how long historically large premiums in silver have lasted in Shanghai. It’s been rather longer than I had realised. So maybe, we will have what appears to be an unsustainable difference for some time.
Historical playbook: how long can a premium last?
• Apr–Jul 2020: 8–12 % Shanghai premium lasted 97 days while China maintained COVID-era export curbs; spread collapsed only after Beijing released 2 000 t from state stockpile and restored air-cargo lanes.
• Oct 2022: Russia–Ukraine logistics shock → +6 % premium for 46 days; closed when Indian refiners re-routed metal via Dubai and Chinese solar wafer makers cut orders during power rationing.
Today’s export-quota regime is structural, not event-driven, so the half-life is longer unless:
(a) MOFCOM doubles quota (needs State Council sign-off), or
(b) COMEX price falls another ≥ 20 % so that landed cost in China < domestic price.
2. There are reports that the fall in silver prices on 5 February on SHFE has been blamed on a coordinated short squeeze and that the exchange authorities took action against the parties involved.
Here is a link to a piece about this on Substack.
3. I have some implied lease rates for you from yesterday evening based on the Comex. Sorry, but I’m having some issues with my computer equipment so this is an image only. They are really high, even for gold historically.
Regards,
Bob
THEN
Higher margins after today
Inbox
| Robert Lambourne | 7:56 AM (26 minutes ago) | ||
| to me, Chris | |||
The authorities seem desperate to keep prices suppressed. There also appears to have been an effort to suppress prices yesterday in Shanghai as per my earlier email.
This is the classic playbook from the Hunt brothers time.
CME Group hikes gold, silver margins again as volatility grips markets –
END
2.ASIAN AFFAIRS FEB 6/2025
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
SHANGHAI CLOSED DOWN 10.33 PTS OR 0.25%
//Hang Seng CLOSED DOWN 325.29 PTS OR 1.25%
// Nikkei CLOSED UP 476,86 PTS OR 0.87%
//Australia’s all ordinaries CLOSED DOWN 1.43%
//Chinese yuan (ONSHORE) CLOSED UP TO 6.9369
/ OFFSHORE CLOSED UP AT 6.9375 Oil DOWN TO 64.09 dollars per barrel for WTI and BRENT DOWN TO 68.06 Stocks in Europe OPENED MOSTLY ALL RED
ONSHORE USA/ YUAN TRADING UP TO 6.9389 OFFSHORE YUAN TRADING UP TO 6.9375 ONSHORE YUAN TRADING BELOW OFF SHORE AND UP ON THE DOLLAR// / AND THUS STRONGER//OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP AT 6.9389
OFFSHORE YUAN: DOWN TO 6.9376
HANG SENG CLOSED DOWN 325.29 PTS OR 1.21%
2. Nikkei closed UP 476.96 PTS OR 0.87%
WEST TEXAS INTERMEDIATE OIL DOWN 64.09
BRENT; 68.06
3. Europe stocks SO FAR: ALL MOSTLY RED
USA dollar INDEX UP TO 97.73 /// EURO FALLS TO 1.1789 DOWN 12 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +2.229/ UP 1/3 FULL BASIS PTS/ VERY TROUBLESOME//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 157.03… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE ENDING OF THE YEN CARRY TRADE AGAIN AND THE REPATRIATION OF YEN DENOMINATED BONDS TRADING IN THE USA/EUROPE. JAPAN 30 YR BOND YIELD: 3.567 DOWN 6 FULL BASIS PTS. AND STILL VERY TROUBLESOME
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: UP OFFSHORE: UP
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 BRENT DOWN this morning
3h European bond buying continues to push yields LOWER on all fronts in the EMU. German 10yr bund YIELD UP TO +2.8257 Italian 10 Yr bond yield DOWN to 3.458 SPAIN 10 YR BOND YIELD DOWN TO 3.205
3i Greek 10 year bond yield DOWN TO 3.441
3j Gold at $4862/30 Silver at: 73.69 1 am est) SILVER NEXT RESISTANCE LEVEL AT $100.00
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 15/100 roubles/dollar; ROUBLE AT 76.91
3m oil (WTI) into the 64 dollar handle for WTI and 68 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 157.25 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 2.229% UP 1/3 BASIS PTS STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING//YEN BOND TRADING OVERSEAS REPATRIATED.//JAPAN 30 YR: 3.564 DOWN 1/4 BASIS PTS.
30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.7779 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9173 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: 4.191 DOWN 3 BASIS PTS…
USA 30 YR BOND YIELD: 4.850 DOWN 2 BASIS PTS/
USA 2 YR BOND YIELD: 3.477 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 43.61 UP 7 BASIS PTS/LIRA GETTING KILLED
10 YR UK BOND YIELD: 4.5390 DOWN 2 PTS
30 YR UK BOND YIELD: 5.360 DOWN 1 BASIS PTS
10 YR CANADA BOND YIELD: 3.404 DOWN 4 BASIS PTS
5 YR CANADA BOND YIELD: 2.910 DOWN 3 BASIS PTS.
1a New York Opening report
Futures Rebound To Session High As Software, Gold And Bitcoin All Jump
Friday, Feb 06, 2026 – 08:50 AM
US equity futures are poised to open higher with Software companies finally bouncing (as previewed here), even though Amazon continues to be deep in the red after its eye-watering capex outlook. US stocks will cap a bruising week in which a rush to unwind crowded trades – from AI shares to precious metals and crypto – triggered margin calls and amplified the market’s slide. With the S&P 500 on track for its worst week this year, S&P futures are 0.6% higher at 8:15a.m. ET while contracts on the Nasdaq 100, which just suffered its ugliest three days since Trump’s trade war sent markets into a tailspin in April, were up 0.8% after erasing an earlier decline while precious metals and cryptocurrencies climb after falling sharply on Thursday. In premarket trading, Mag 7 are mostly higher except for AMZN which is down -7% post-earnings on a staggering capex guidance ($200BN, vs $146BN est); NVDA +2.7%, MSFT +1.6%. Yields are 1-3bp higher led by the front-end overnight while the USD is at session lows. Commodities are mixed: base metals are lagging, while gold and silver added 2.0% and 4.4%, respectively; oil added 0.4% overnight. Oil trades near session lows as US-Iran nuclear talks take place. Bitcoin has bounced more than 10% from its session lows just above $60K as dip buying makes a tentative comeback.
In premarket trading, Mag 7 stocks are mostly higher with one exception: Amazon is down 7% after the company announced plans to spend $200 billion this year on data centers, chips and other equipment, worrying investors that its colossal bet on artificial intelligence may not pay off in the long run. AI infrastructure stocks rally after Amazon’s massive capex forecast. Gainers include AMD (AMD) +2%. Other Magnificent Seven stocks: Tesla +0.6%, Alphabet -1%, Microsoft +1.3%, Apple -0.4%, Meta Platforms +0.08%
- Cryptocurrency-linked stocks rally as Bitcoin rebounded after a selloff that briefly dragged the token to a more than 50% retreat from its October peak.
- Bill Holdings (BILL) rises 12% after the payments-automation company raised its full-year forecast.
- Bloom Energy (BE) rises 13% after the manufacturer of solid-oxide fuel cells gave a forecast for 2026 revenue that beat the average analyst estimate.
- Hims & Hers Health (HIMS) falls 8% after FDA Commissioner Marty Makary said his agency will take “swift action against companies mass-marketing illegal copycat drugs, claiming they are similar to FDA-approved products.”
- Impinj (PI) falls 27% after the semiconductor device company gave an outlook that is much weaker than expected, given an inventory overbuild. The results prompted a downgrade
- Molina (MOH) tumbles 25% after the health insurer forecast 2026 profit that was less than half of Wall Street’s expectations.
- Reddit (RDDT) climbs 8% after the social-media company’s fourth-quarter results beat expectations across key metrics. It also gave an outlook that is seen as strong.
- Roblox (RBLX) jumps 8% after the video-game company reported fourth-quarter results that beat expectations on key metrics. It also gave an outlook that is seen as positive.
- Stellantis (STLA) plunges 27% after the carmaker said a business reset resulted in charges of around €22.2 billion for the second half of 2025. Akros says the charges were about double what they expected.
Investors have been spooked by developments on two fronts: the rollout of models from AI startup Anthropic that threaten to render large swaths of software services redundant, alongside the eye-watering spending plans of tech companies. Four of the biggest tech firms plan to invest around $650 billion this year in data centers and the equipment required to run them.
Amazon, almost 8% lower in pre-market trading, is the latest Mag7 member to spook investors about ballooning AI spending, projecting $200 billion for capex this year, far more than the $146 billion Wall Street had penciled in. Taken together with plans from Meta, Google and Microsoft, capital spending by the Big Four AI “hyperscalers” is set to hit about $650 billion this year — up from $356 billion in 2025 and under $100 billion in 2020. On current trajectories, that suggests the quartet’s capex could top $1 trillion in 2027, a scale of investment that’s giving investors pause in what has long been a disinflationary tech industry.
Some investors still appear willing to open their wallets. Oracle’s record-setting bond deal on Monday is an encouraging signal for other big tech firms seeking to raise hundreds of billions of dollars for data-center infrastructure, according to Goldman Sachs’ syndicate desk. Yet if the mounting cost of building AI is rattling markets, so too is the disruption the technology threatens to unleash on other industries. Anthropic is rolling out a new model, Claude Opus 4.6, tailored for financial research – just days after its move into legal services jolted legacy software providers. Meanwhile, Blackstone-backed Liftoff Mobile postponed its IPO this week as a selloff in tech shares compounded investor concerns about AI’s impact.
Still, the week’s retreat is allowing traders to separate stocks facing genuine risk or overvaluation from those caught up in the broader risk-off rout, as the AI rally of the past three years continues to broaden beyond the largest names.
“This is an opportunity for us as active investors to take the baby that has been thrown out with the bath water, because there’s still names out there that we believe will come out very well,” said Fabiana Fedeli, chief investment officer for equities, multi-asset and sustainability at M&G Investments.
For Rory Sandilands, a fixed-income portfolio manager at Aegon Ltd., uncertainty over the disruptive nature of AI may linger as it remains too early to tell how effective the new tools are, or how quickly other software may become obsolete.
“What we’re seeing in the marketplace is fear, because nobody understands really who the winners and losers will be,” Sandilands said. “There’s not enough cushion in credit spreads in aggregate to really to help soften that blow.”
Bitcoin, another canary in the coal mine for risk appetite, touched a new 15-month low of $60,033 on Friday morning, before rallying more than 10%. The original cryptocurrency suffered its biggest daily drop since 2022 on Thursday. Bitcoin’s plunge is intensifying the crisis rocking the digital-asset complex. Few companies are more exposed than Strategy, which confirmed in earnings announcement on Thursday a net loss of $12.4 billion for the fourth quarter, driven by the mark-to-market decline in its vast holdings. Retail investors who piled into the Trump administration’s promised crypto paradise via Wall Street-approved funds are also learning an expensive lesson in market gravity. Crypto funds had their biggest outflows since November in the week ended Feb. 4, Bank of America says, citing EPFR Global data. Money market funds attracted the most inflows, along with stocks. That said, today crypto may finally be due for a rebound: tracking the Software basket, bitcoin is more than 10% above the overnight lows of $60K, trading near session highs of $67K.
Silver has managed a modest rally from Thursday’s 17% leg lower, but remains nearly 39% down from its peak barely a week ago.
Also recall: it may be the first Friday of the month, but there are no non-farms payrolls. Earlier this week, the Bureau of Labor Statistics said the January jobs report would be delayed to next Wednesday because of the partial government shutdown.
Turning to earnings, companies representing nearly 70% of the S&P 500’s market value have now reported in this earnings season. Of the 289 S&P 500 companies to have reported so far, more than 78% have beaten analysts’ forecasts, while 17% have missed. Next week, the calendar is much lighter, with another 8% of the S&P’s market cap reporting. Philip Morris International and Biogen are among those companies expected to report results before the market opens on Friday. PMI investors will be looking for continued strength in its smoke-free portfolio, which includes heated tobacco products and nicotine pouches, to support high-single digit sales growth in the fourth-quarter. For Biogen, all eyes will be on the performance of Leqembi, the drugmaker’s treatment for early Alzheimer’s disease.
European stocks also advance, with construction, utility and bank shares leading gains. Autos underperform as Stellantis shares tumble. Consumer products and chemicals also lag, while construction shares outperform, as French group Vinci announced strong 2025 earnings. Here are some of the biggest movers on Friday:
- Bayer rises as much as 3.2% after the German company said its experimental drug — called asundexian — cut the risk of secondary strokes by 26% in a late-stage trial.
- Kongsberg shares soar as much as 17% after the Norwegian defense firm posted results that Morgan Stanley says delivered a strong end to the year, with all divisions recording double-digit growth in the fourth quarter.
- Vontobel shares rise as much as 6.1% after the investment management firm reported a significant trading-driven earnings beat, according to analysts at Citi.
- Renk Group shares rise as much as 10% after BNP Paribas raises its recommendation on the German defense company to outperform from neutral, citing a reassuring message from the CEO over the upcoming earnings report and the outlook for 2026.
- Stellantis shares fall as much as 24%, the steepest drop on record, after the carmaker said a business reset resulted in charges of around €22.2 billion for the second half of 2025. Akros says the charges were about double what they expected.
- SocGen shares dropped as much as 4.1% following a strong rally after the French lender reported what an RBC analyst says are mixed results as Bloomberg Intelligence notes trading revenue missed estimated and fell short of peers.
- Kering shares fall as much as 5.5% after Morgan Stanley trimmed its price target on the French luxury group ahead of next week’s earnings, saying recent channel checks point to a more difficult start to 2026 than anticipated.
- Coloplast shares drop as much as 9.6% after the Danish medical products-maker reported weaker-than-expected sales and earnings for the first quarter, hurt by its Kerecis skin substitutes business.
- Anglo American shares fall as much as 3.1% after BofA analysts cut the miner’s rating to neutral from buy, citing risks to completing its Teck Resources acquisition and uncertainty over the value of non-core businesses.
- European software and IT services stocks are coming under renewed pressure, tracking declines in Asian and US peers, after Anthropic unveiled a new version of its most powerful artificial intelligence model designed to carry out financial research.
Earlier in the session, Asian stocks pared their initial declines on Friday but still headed for a weekly slide, dragged by concerns over artificial intelligence shares and panic selling in precious metals. The MSCI Asia Pacific Index dropped as much as 1.3% before trading little changed in Friday’s session, with South Korea and Taiwan’s tech-sensitive markets overcame declines. Stocks in Hong Kong dropped and mainland China extended its retreat, while Japan’s market rebounded after opening at a loss. On the week, the regional gauge slid as much as 2.5%, set to snap its streak of advances that started in mid-December. Thailand will also be heading to the polls for a general election, with spending plans and measures to support growth among investors’ top priorities. Shares in India were steady after the central bank kept its benchmark interest rate unchanged, signaling an end to its easing cycle.
“Asian markets have fallen this week as volatility in precious metals prompted investors to reassess stretched valuations more broadly,” said Fabien Yip, market analyst at IG International. A spillover from the US tech selloff has added more pressure, although the region’s decline has been more moderate than global peers, she added.
In FX, the Bloomberg Dollar Spot Index is down 0.2% while the Norwegian krone and Australian dollar are the best performing G-10 currency, rising 0.8% each against the greenback. USD/JPY is little changed ahead of the Japanese election on Sunday.
In rates, treasuries edge lower, pushing US 10-year yields up 2 bp to 4.20%. Gilts lead a rally in European government bonds, with UK 10-year yields falling 3 bps to 4.53%. A combination of the Trump administration’s focus on affordability and a weakening employment picture could open the door to further rate cuts, said Mohit Kumar, chief strategist for Europe at Jefferies.
“Our view remains that we could get a scenario where growth is robust and yet employment is weakening due to the impact of AI,” Kumar wrote. “A Warsh-led Fed could end up being more dovish than what the market currently expects.”
Money market funds attracted the most inflows in the week ended Feb. 4 along with stocks, Bank of America Corp. said, citing EPFR Global data. Crypto funds had their biggest outflows since November, while gold funds saw their first weekly outflow since November.
In commodities, WTI crude futures are steady near $63.30 a barrel as traders eyed the outcome of talks between Iran and the US. Spot silver rises over 5% while Bitcoin rallies back above $66,000 after dropping more than 50% from its October peak.
Looking at today’s calendar, the University of Michigan’s provisional reading of consumer sentiment in February is due at 10 a.m. ET however.
Market Snapshot
- S&P 500 mini +0.4%
- Nasdaq 100 mini +0.5%
- Russell 2000 mini +0.8%
- Stoxx Europe 600 little changed
- DAX +0.1%
- CAC 40 -0.2%
- 10-year Treasury yield +1 basis point at 4.19%
- VIX -1.3 points at 20.51
- Bloomberg Dollar Index -0.1% at 1193.65
- euro +0.1% at $1.1794
- WTI crude +0.7% at $63.73/barrel
Top Overnight News
- Oil dropped US-Iran talks got underway in Oman, with Tehran indicating that a quick deal is unlikely. BBG
- The U.S. Virtual Embassy in Iran issued a security alert early Friday urging American citizens to “leave Iran now.” The notice came as American and Iranian officials were scheduled for a new round of negotiations in Oman on Friday. CNBC
- Bitcoin is bouncing this morning (currently +525bps), rising after a selloff that briefly dragged the token to more than 50% below its October peak. BBG
- US consumer sentiment probably edged lower at the start of February on concerns about a cooling labor market and elevated prices. BBG
- BOJ board member Kazuyuki Masu highlighted the need for a higher benchmark interest rate. BBG
- Indonesia’s assets slid after Moody’s cut the country’s credit outlook to negative. The cost of insuring sovereign debt rose to around 80 bps, the biggest increase among Asian sovereigns. BBG
- Intel and AMD have notified Chinese customers of supply shortages for server central processing units (CPUs), with Intel warning of delivery lead times of up to six months. The supply constraints have driven up prices for Intel’s server products in China by more than 10% generally, although pricing varies by customer contract. RTRS
- Big Tech stocks sold off heavily after the companies unveiled plans to spend $660bn this year on AI, as investors fret that the “breathtaking” capital expenditures are outpacing the eranigns potential of the new technology. Amazon, Google and Microsoft are set to lose a combined $900bn in mkt value since filing their quarterly earnings over the past week. FT
- Sweden’s core inflation slowed more rapidly than expected last month, suggesting a March rate cut may be in play. The CPIF rate excluding energy fell to 1.7% from 2.3% in December. BBG
- South Korean official said US is taking necessary steps regarding the issue of South Korea being on sensitive country lists: Yonhap.
Trade/Tariffs
- Japan and US 1st round of investment to include gas power, ports and artificial diamond, totalling JPY 6-7tln, Nikkei reported.
- Chinese Commerce Ministry said they will lead policy measures to promote travel service exports and boost inbound consumption.
- French President Macron to visit Japan at the end of March, via Nikkei.
- South Africa Trade Minister said they signed a framework economic partnership with China, while the agreement will be followed by an early harvest agreement by end of March 2026, which will then see China provide duty-free access to South African exports.
- South Korea Foreign Minister said South Korea is not intentionally delaying US investment.
- Venezuela and Qatar review bilateral agenda to strengthen cooperation.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were ultimately mixed after the global market rout rolled over into the region following the continued tech woes stateside and weak US labour market data. Nonetheless, most of the regional benchmark indices are well off their worst levels, as the early sell-off gradually stabilised. ASX 200 was among the underperformers with the index dragged lower by heavy tech losses, and with sentiment also not helped by M&A-related disappointment after the proposed Rio Tinto-Glencore merger fell through, while there were comments from RBA Governor Bullock, who noted the RBA board is not happy with inflation and the prospects of getting it down. Nikkei 225 initially declined amid the broad risk-off mood and disappointing Household Spending data, but then recovered as sentiment improved and with participants awaiting the snap election on Sunday, where the ruling bloc is widely anticipated to achieve a landslide victory. Hang Seng and Shanghai Comp were mixed amid a lack of fresh pertinent catalysts and with the mainland clawing back all of its early losses following another two-pronged liquidity operation by the PBoC utilising both 7-day and 14-day reverse repos.
Top Asian News
- Indonesian President said they signed a security treaty with Australia.
- Former Bank of China (3988 HK) Vice President was expelled from the China Communist Party for serious violations of discipline and law.
- China’s Ministry of Agriculture issues implementation plan to advance rural revitalisation and agricultural modernisation.
- Japan ruling parties expected to win over 300 seats out of the 465 seats in the lower house election, according to Nikkei.
European bourses (STOXX 600 +0.1%) broadly opened on the backfoot but have gradually moved higher as the morning progressed. European sectors opened with a clear negative bias but are now mixed. Construction leads, boosted by upside in Vinci (+6.5%). To the downside, Autos has been hit by significant pressure in Stellantis (-22.3%). The Co. noted it is to take a EUR 22bln charge as it resets its business and scales back on its recent EV push.
Top European News
- Russian Ambassador said the UK and France should participate if there is a serious talk multilateral nuclear disarmament.
- UK and China working group will work towards an MOU between the PBoC and BoE.
- ECB’s Escriva said there is always room for changes in monetary policy; inflation is at target and expectations are anchored.
FX
- DXY marginally pulled back since the start of the APAC session after gaining against its peers yesterday amid haven appeal and as the buck continued to nurse some of its YTD weakness, with momentum following the Warsh Fed Chair nomination remaining intact yesterday, despite the slew of weaker-than-expected labour market metrics. The European morning has seen trade within tight parameters as traders look ahead to the University of Michigan prelim survey and comments from Fed’s Jefferson. DXY resides in a 97.75-97.97 range after finding support near 98.00 once again after printing a 97.60-97.98 parameter yesterday.
- EUR/USD ekes mild gains and retested the 1.1800 level, albeit with price action contained following the uneventful ECB policy announcement yesterday, with several ECB speakers offering commentary today, albeit with no obvious impact on EUR assets. Further, the ECB Survey of Professional Forecasters suggested headline and core HICP inflation expectations unchanged across all horizons, while Real GDP growth expectations unchanged except for a slight upward revision for 2026. EUR/USD currently trades within a 1.1765-1.1801, versus Thursday’s 1.1775-1.1822 range.
- GBP/USD regained some composure after the prior day’s underperformance, which was caused by the BoE’s dovish vote split and UK political woes and calls grow for UK PM Starmer to resign. GBP/USD trades between 1.3508-1.3581 compared to yesterday’s wide 1.3518-1.3654 parameter.
- USD/JPY declined overnight but trimmed losses to trade flat at the time of writing, but with price action choppy ahead of the election on Sunday and following disappointing Household Spending data from Japan, while BoJ’s Masu reiterated that the central bank will raise rates if the economy and prices are in line with the BoJ’s outlook.
- Antipodeans outperform across the G10 space, rebounding from a weekly trough as the early sell-off in metals and stocks gradually stabilised and then reversed.
Fixed Income
- USTs are firmer by a handful of ticks, remaining at the elevated levels seen in the prior session. As a reminder, the strength seen on Thursday was attributed to: a) risk-off sentiment, b) poor US jobs data, c) a dovish hold at the BoE. Newsflow is lacking this morning, aside from the recommencement of US-Iran talks in Oman – the key risk is that talks break down, leading to a potential US strike on Iran. Geopols aside, focus will be on the US data slate, which includes the UoM survey. Currently within a 112-06+ to 112-16+ range.
- Bunds are also firmer this morning, following peers; currently firmer by around 15 ticks and trading within a 128.31-128.58 range. Earlier, German Exports rose more than expected with Imports also topping expectations – promising data from the region, though more focus was on the Industrial Production. The metric fell sharply in December, which highlights the uncertain nature of Germany’s recovery. Following this data, Bunds rose from 128.37 to a high of 128.46, before scaling back to just under the 128.40 mark where the benchmark currently resides. Several ECB speakers have appeared throughout the day, Kazaks highlighted risks of the stronger EUR, whilst Rehn suggested that there’s a real risk of lower-than-expected inflation.
- Australia sold AUD 800mln 1.00% December 2030 bonds, b/c 4.14, avg. yield 4.3641%.
Commodities
- WTI and Brent briefly dipped below USD 63/bbl and USD 67/bbl, respectively at the start of the Asia-Pac session, before steadily bidding higher as European trade gets underway. The key event traders will be looking out for today is any reporting following the US-Iran nuclear talks in Oman. As of writing, the meeting has gotten underway but there have been reports that a convoy carrying US officials has left the site where the talks have been taking place.
- Spot gold is trading stronger today and currently at the upper end of a USD 4,655.23-4,903.40/oz range, and just above its 21 DMA (USD 4,848/oz). Focus remains on geopolitical updates out of Oman as the US and Iran remain in meetings.
- Base metals hold a negative bias this morning but have gradually picked up off worst levels as the risk tone improves. 3M LME Copper currently trades in a USD 12,540-12,896.78/t range.
- China’s National Gold Group to constrain precious metals repurchase business from the 7th of February.
- China’s Shanghai Gold Exchange to increase margin ratios, price limits for some gold and silver contracts from the 9th of February closing settlement.
- Weekly SHFE warehouse stocks change (W/W): Copper +6.8%, Aluminium +13.1%, Zinc +8.5%, Lead +56.4%.
- Iraq’s SOMO Director said they are planning to boost oil export from the south by 120k BPD.
- Thailand’s TFEX announces the temporary trading halt of silver online futures.
- Mexico reportedly evaluating how to send fuel to Cuba while avoiding US tariffs.
Central Banks
- BoJ’s Masu said he does not think the BoJ is behind the curve and need to monitor the impact of FX on inflation. Timing of rate hikes to neutral is not predetermined. Not suggesting food price moves need immediate action. Watching food inflation beyond rice prices. Policy should be carefully guided to keep underlying inflation around 2%. True that Japan’s negative real interest rate is likely behind rises in property prices. Past pace of rate hikes will not be any guide to the future pace of hikes.
- BoJ’s Masu said the central bank is closely watching FX market moves and their impact on the economy and prices, also noted that appropriate and timely rate hike is needed. said:. BoJ will raise rates if the economy and prices are in line with the BoJ’s outlook. Cause of inflation also warrants close attention, in terms of whether inflation is truly caused by supply-side factors alone or by a combination of both demand- and supply-side factors. Real interest rate remains at a significantly negative level in Japan. Convinced that continuing with further policy interest rate hikes will be needed to complete the normalisation of monetary policy in Japan.
- BofA expects ECB to hold rates in 2026 (prev. 25bp cut in March), sees 25bps cuts in March and June 2027.
- ECB Survey of Professional Forecasters: Headline and core HICP inflation expectations unchanged across all horizons; Real GDP growth expectations unchanged except for a slight upward revision for 2026. Unemployment rate expectations unchanged for 2026 and 2027 but slightly lower thereafter.
- ECB’s Muller said December’s outlook still good for basic decision making.
- ECB’s Rehn on their next meeting in March said they will be receiving new data and updates for ECB’s forecast, allowing them to refine their assessment of the Euro area’s growth momentum and inflation dynamic. Any changes in the key interest rates in the future, if justified and not executed. Highlights that there’s a real risk of lower than expected inflation.
- ECB’s Kazaks said that rapid EUR strengthening may trigger a response from the ECB.
- ECB’s Villeroy said downside risks are probably more significant; the ECB has no FX target.
- ECB’s Stournaras said “we are monitoring exchange rates”; have strong confidence in the economic outlook. ECB is monitoring the FX rate, but euro increase has not been dramatic. FX rate levels are not a primary focus. January inflation data should be viewed in context. Meeting-by-meeting approach has been good practice. Judges that risks are balanced. Do not think we have to take any action now.
- RBA Governor Bullock said RBA board is not happy with inflation and the prospects of getting it down.
- RBA Governor Bullock said much of the recent increase in inflation is judged to be temporary, but some of it seems to be persistent, adds Board will be monitoring closely the extent to which the strong inflation we have observed is persistent or temporary. said:Labour market is still doing very well, calling it good news.
- RBI maintains Repurchase Rate at 5.25%, as expected, via unanimous decision and maintains neutral policy stance.
Geopolitics: Russia-Ukraine
- Russian Ambassador said the UK and France should participate if there is a serious talk multilateral nuclear disarmament.
- Russia’s Kremlin said Abu Dhabi talks will continue; on nuclear talks, said Russia and the US realise the need to begin talks soon.
- Deputy Head of Russian Military intelligence shot in Moscow, sources report.
Geopolitics: Middle-East
- Iranian media reported that the second round of Muscat talks does not signify the start of negotiations, and these initial sessions have been held for each party to coordinate with the Omani mediator.
- Second round of nuclear negotiations between the US and Iran have gotten underway.
- An Iranian diplomatic person said the presence of CENTCOM or any military officials can jeopardise indirect nuclear talks between the US and Iran.
- A convoy reportedly carrying American officials leaves the site of the US-Iran talks in Oman, the AP reported; details light.
- US envoy Kushner is also attending US-Iran talks, according to Iranian state TV.
- Iran and US commence nuclear talks in Oman, Iranian media reported.
- Iran’s Foreign Minister said they are fully prepared to defend Iran’s sovereignty and security against any transgressions.
- US-Iran talks are reportedly delayed by a few hours.
- Israeli media reported that Israeli PM Netanyahu said in closed sessions of the Knesset that political, military and economic factors brought Iran closer to a critical point, although he did not consider the fall of the government to be certain. He warned that any Iranian attack would be met with a “strong response”.
- US President Trump posted “Rather than extend “NEW START” (A badly negotiated deal by the United States that, aside from everything else, is being grossly violated), we should have our Nuclear Experts work on a new, improved, and modernized Treaty”. Full post: “The United States is the most powerful Country in the World. I completely rebuilt its Military in my First Term, including new and many refurbished nuclear weapons. I also added Space Force and now, continue to rebuild our Military at levels never seen before. We are even adding Battleships, which are 100 times more powerful than the ones that roamed the Seas during World War II — The Iowa, Missouri, Alabama, and others. I have stopped Nuclear Wars from breaking out across the World between Pakistan and India, Iran and Israel, and Russia and Ukraine. Rather than extend “NEW START” (A badly negotiated deal by the United States that, aside from everything else, is being grossly violated), we should have our Nuclear Experts work on a new, improved, and modernized Treaty that can last long into the future. Thank you for your attention to this matter! PRESIDENT DONALD J. TRUMP”.
Geopolitics: Others
- US to resume aid to North Korea whilst outreach stalls, via the WSJ. According to a US official, the decision isn’t an act of gesture but rather as a de facto block on aid to North Korea.
- Senior South Korea official said expects progress in a few days regarding the North Korea issue, according to Yonhap.
US Event Calendar
- 10:00 am: United States Feb P U. of Mich. Sentiment, est. 55, prior 56.4
- 12:00 pm: United States Fed’s Jefferson Speaks on the Economy
DB’s Jim Reid concludes the overnight wrap
Risk assets came under mounting pressure over the last 24 hours, as concerns around AI and a weak batch of US data led to growing questions about the near-term outlook. Once again, software led the sell-off, with the S&P 500’s software component (-5.01%) posting a 7th consecutive fall, whilst the broader S&P 500 (-1.23%) fell for a 3rd session running. But there were clear signs of stress more widely, with the VIX index (+3.13pts) reaching a new 2026 high of 21.77pts, whilst Bitcoin (-13.14%) saw its worst daily decline since November 2022, closing at a 15-month low of $63,083 and down almost 50% from its October peak. Overnight, it even surpassed that 50% threshold, falling to just $60,033 after midnight in London, but it’s since bounced back to $65,366 again. Meanwhile, the risk-off mood drove a sharp rally in Treasuries, with 2yr yields (-10.3bps) posting their biggest decline in six months. And there’s no sign of the sell-off finding a floor just yet, as disappointing results from Amazon after the US close have meant that futures on the S&P 500 are down another -0.50% this morning.
That latest software decline now leaves its S&P 500 component down -29.9% from its October peak. And if you’d just known that US software would be in bear market territory back then, you’d be forgiven for thinking markets would have seen a huge correction by now. However, what we’ve actually seen is a significant rotation, which Jim looked at in yesterday’s chart of the day (link here). So other sectors have taken up the baton from tech, such as energy, materials and consumer staples, meaning that the overall S&P 500 still only closed -2.6% beneath its record high from last month.
Interestingly, that pattern echoes what we saw in 2000 as the dot-com bubble started to burst. Equities started to fall from the March 2000 as tech stocks saw significant declines. However, consumer staples, utilities and healthcare rallied significantly over the months ahead, and in September the S&P 500 actually came within a percentage point of its record high from six months earlier. So it shows that a market can absorb a prolonged rotation without obvious index-level stress for some time. But the longer and deeper the sell-off in a dominant sector becomes, the harder it is for the broader index to withstand the drag, and the continued losses for tech in 2000 ultimately meant the S&P 500 ended that year over -10% lower.
This latest sell-off has shown no sign of easing yet, and it got further momentum as Amazon reported after the close last night. Its net sales guidance was largely in line with expectations but this was accompanied by a sharp rise in planned capex spending, which is expected to reach $200bn this year, well above expectations. That spending also weighed on the operating income guidance ($16.5-21.5bn in the current quarter vs $22.2bn estimated) and pushed Amazon’s shares down by more than -10% in after-hours trading.
All that follows a difficult session yesterday, where the S&P 500 (-1.23%) posted a fresh decline that made this its worst 3-day run (-2.55%) since November. And with tech leading the sell-off, the NASDAQ (-1.59%) is now on its worst 3-day run (-4.46%) since the post-Liberation Day turmoil last April. But whilst tech has been the main focus, yesterday also brought signs of the sell-off broadening out, with a wider range of sectors losing ground. For instance, both the equal-weighted S&P 500 (-0.6x%) and Europe’s STOXX 600 (-1.05%) fell back from their record highs on Wednesday, showing that it wasn’t just a tech story. Indeed, the defensive consumer staples (+0.25%) and utilities (+0.11%) sectors were the only ones in the S&P 500 to eke out gains and the small-cap Russell 2000 (-1.79%) saw a large pullback as well.
The sell-off really wasn’t helped by the latest batch of US data, which helped to feed the more negative market narrative. Indeed, a crucial factor driving the market’s resilience this year despite various shocks has been the consistent data resilience. So any signs the data is softening would take away a key support that’s held things up amidst the volatility elsewhere. In terms of yesterday’s releases, the weekly initial jobless claims spiked up to an 8-week high of 231k in the week ending Jan 31 (vs. 212k expected). Then 90 minutes later, the JOLTS report showed that US job openings fell to just 6.542m in December (vs. 7.25m expected), which is their lowest level since 2020, coming in below every economist’s estimate on Bloomberg.
Those signs of labour market weakness meant investors priced in more Fed rate cuts this year, as the data was seen as offering them more space to ease policy. For instance, the amount of cuts priced by the December meeting was up +10.0bps on the day to 60bps. And in turn, that helped to push Treasury yields lower across the curve, with the 2yr yield (-10.3bps) seeing its biggest decline since August to 3.45%, whilst the 10yr yield (-9.5bps) fell to 4.18%.
That bond rally got further support from the latest decline in commodity prices, which eased concerns about inflation. So Brent crude oil fell -2.75% to $67.55/bbl amidst the weaker data as well as news that US-Iran negotiations are set to go ahead in Oman today. And there was a fresh rout in precious metals, with gold prices (-3.74%) down to $4,779/oz, while silver (-19.57%) saw its second-sharpest decline on record to $70.92/oz. Following on the -26% fall last Friday, that left silver down -1% YTD, having been up +62% as of Wednesday last week, although it’s bounced back a bit overnight to move back into positive territory for the year, at $73.41/oz
Earlier in Europe, there wasn’t too much excitement from the latest ECB meeting, where it kept its deposit rate at 2% as expected. President Lagarde said that inflation was in a “good place”, and as our European economists write in their reaction note (link here), there was no sense of an imminent change in policy in either direction. So market expectations continue to see the ECB holding rates for the rest of the year, with the risks skewed towards another cut, and yields on 10yr bunds (-1.7bps) and OATs (-0.2bps) only saw modest declines.
In the UK, however, the Bank of England’s decision led to a clear market reaction, as the decision had several dovish elements. It kept rates on hold as expected at 3.75%, but this was a narrow 5-4 vote, with the other 4 preferring a 25bp rate cut. And looking forward, the statement said that rates were “likely to be reduced further”. So that led to a significant rally for front-end gilts, with the 2yr yield (-5.6bps) down to 3.64%, whilst the pound sterling weakened -0.90% against the US Dollar. Moreover, those moves were exacerbated by the latest political drama, with mounting speculation around PM Starmer’s position seeing UK assets come under fresh pressure. Indeed, long-end bond yields posted a fresh increase, with the 30yr gilt yield (+4.2bps) up to 5.37%. And the 2s10s yield curve (+6.4bps) reached its steepest since 2018, at 89.5bps.
Overnight in Asia, we’ve seen a more mixed performance for equities. In Japan, both the Nikkei (+0.38%) and the TOPIX (+0.76%) have rallied ahead of the country’s general election this Sunday, where PM Sanae Takaichi is seeking her own mandate after becoming PM last October. However, there’s been significant weakness elsewhere, with the Hang Seng (-1.25%) and the KOSPI -1.95%) seeing sharper losses. Moreover, the latest slump for Australia’s S&P/ASX 200 (-2.03%) leaves the index in negative territory for the year so far as it stands. Otherwise, there’s been a steadier performance for the Shanghai Comp (+0.18%) and the CSI 300 (-0.11%).
Looking at the day ahead, data releases include German industrial production for December, and in the US there’s the University of Michigan’s preliminary consumer sentiment index for February. Otherwise, central bank speakers include Fed Vice Chair Jefferson, the ECB’s Cipollone and Kocher, and the BoE’s Pill.
1b European opening report
1 c) Asian opening report
Equities mixed but mostly stabilised following further tech-led selloff stateside – Newsquawk EU Market Open
Friday, Feb 06, 2026 – 01:52 AM
- APAC stocks were ultimately mixed after the global market rout rolled over into the region following the continued tech woes stateside and weak US labour market data.
- US equity futures were lower but off worst levels with headwinds seen after Amazon shares dropped 10% post-earnings.
- European equity futures indicate an uneventful cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with losses of 0.8% on Thursday.
- RBI maintained its Repurchase Rate at 5.25%, as expected, via a unanimous decision and voted to maintain its neutral policy stance; Banxico held rates at 7.00%, as expected, in a unanimous decision.
- Looking ahead, highlights include German Trade Balance (Dec), Swedish CPIF prelim. (Jan), Swiss Unemployment (Jan), Canadian Jobs Report (Jan), US Prelim. Michigan (Feb), ECB Survey of Professional Forecasters. Speakers include ECB’s Cipollone, BoE’s Pill & Fed’s Jefferson.
- Earnings from Biogen, Under Armour, Carlyle Group and Philip Morris International.
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US TRADE
EQUITIES
- US stocks were sold on Thursday with the majority of sectors red, primarily led by consumer discretionary, materials and technology. Big tech valuations remain a key concern this earnings season, with Amazon (AMZN) pressured heading into its earnings after-hours, while Google (GOOGL) was sold after boosting its CapEx view, albeit the stock did close well off its earlier lows.
- Furthermore, Microsoft (MSFT) slumped after a downgrade at Stifel, and software names continued to decline after Anthropic announced the Claude Opus 4.6 AI model, adding more pressure to the recently beaten-up sector. Aside from tech woes, risk sentiment was also weighed on by weak labour market data in the US.
- SPX -1.23% at 6,798, NDX -1.38% at 24,549, DJI -1.20% at 48,909, RUT -1.79% at 2,578.
- Click here for a detailed summary.
TARIFFS/TRADE
- US is to scrap reciprocal tariffs on 1,675 Argentine products.
- White House Press Secretary said she does not have a timeline regarding South Korea tariffs. In relevant news, South Korea’s Foreign Minister said South Korea is not intentionally delaying US investment, while a South Korean official said the US is taking necessary steps regarding the issue of South Korea being on sensitive country lists.
- South Africa’s Trade Minister said they signed a framework economic partnership with China, while the agreement will be followed by an early harvest agreement by the end of March 2026, which will then see China provide duty-free access to South African exports.
NOTABLE HEADLINES
- Fed’s Bostic said inflation is too high for too long, and it is important to keep policy moderately restrictive. Bostic added that if the Fed is going to do its job well, it has to think about issues over the long run and that other officials, such as those in Congress, have shorter horizons.
- US President Trump announced the launch of the TrumpRx.gov website and said prescription drugs will be available tonight on the website, while he added that 16 of the 17 largest pharmaceutical companies have signed agreements.
- White House Press Secretary said regarding the DHS, that they are willing to discuss some of the Democrats’ demands.
NOTABLE US EARNINGS
- Amazon (AMZN) Q4 2025 (USD): EPS 1.95 (exp. 1.96), Revenue 213.4bln (exp. 211.42bln). Q1 operating income 16.5-21.5bln (exp. 22.2bln). 2026 capex about 200bln (exp. 146.11bln). Shares fell 10%.
APAC TRADE
EQUITIES
- APAC stocks were ultimately mixed after the global market rout rolled over into the region following the continued tech woes stateside and weak US labour market data. Nonetheless, most of the regional benchmark indices are well off their worst levels, as the early sell-off gradually stabilised.
- ASX 200 was among the underperformers with the index dragged lower by heavy tech losses, and with sentiment also not helped by M&A-related disappointment after the proposed Rio Tinto-Glencore merger fell through, while there were comments from RBA Governor Bullock, who noted the RBA board is not happy with inflation and the prospects of getting it down.
- Nikkei 225 initially declined amid the broad risk-off mood and disappointing Household Spending data, but then recovered as sentiment improved and with participants awaiting the snap election on Sunday, where the ruling bloc is widely anticipated to achieve a landslide victory.
- Hang Seng and Shanghai Comp were mixed amid a lack of fresh pertinent catalysts and with the mainland clawing back all of its early losses following another two-pronged liquidity operation by the PBoC utilising both 7-day and 14-day reverse repos.
- US equity futures were lower but off worst levels with headwinds seen after Amazon shares dropped 10% post-earnings.
- European equity futures indicate an uneventful cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with losses of 0.8% on Thursday.
FX
- DXY marginally pulled back after gaining against its peers yesterday amid haven appeal and as the buck continued to nurse some of its YTD weakness, with momentum following the Warsh Fed Chair nomination remaining intact yesterday, despite the slew of weaker-than-expected labour market metrics.
- EUR/USD eked slight gains and retested the 1.1800 level, albeit with price action contained following the uneventful ECB policy announcement in which the central bank maintained rates, as expected, and reiterated it is not pre-committing to a particular rate path with policy to remain data-dependent and meeting-by-meeting.
- GBP/USD regained some composure after the prior day’s underperformance, which was caused by the BoE’s dovish vote split.
- USD/JPY ultimately declined, but with price action choppy ahead of the election on Sunday and following disappointing Household Spending data from Japan, while BoJ’s Masu reiterated that the central bank will raise rates if the economy and prices are in line with the BoJ’s outlook.
- Antipodeans rebounded from a weekly trough as the early sell-off in metals and stocks gradually stabilised.
- PBoC set USD/CNY mid-point at 6.9590 vs exp. 6.9517 (Prev. 6.9570).
- Banxico held rates at 7.00%, as expected, in a unanimous decision. Governing Board deemed it appropriate on this occasion to pause the rate-cutting cycle, consistent with the assessment of the current inflationary outlook. Looking ahead, the Board will evaluate additional reference rate adjustments (prev. Looking ahead, the Board will evaluate the timing for additional reference rate adjustments).
FIXED INCOME
- 10yr UST futures held on to gains after bull steepening in the wake of soft labour market metrics, in which Challenger Layoffs, Initial Jobless Claims, JOLTS Job Openings, and the Revelio Labs US Jan Non-farm Jobs numbers all showed a deterioration.
- Bund futures remained afloat after the prior day’s advances but with further upside capped following a lack of fireworks at the recent ECB meeting and with German trade data scheduled later.
- 10yr JGB futures were indecisive and traded on both sides of the 132.00 level following weaker-than-expected Household Spending data and ahead of the Japanese election, while there were also comments from BoJ’s Masu, who stated that an appropriate and timely rate hike is needed.
COMMODITIES
- Crude futures were initially lacklustre after retreating yesterday alongside the sell-off in risk assets and with participants looking ahead to US-Iran talks scheduled in Oman, but then gradually edged higher as sentiment gradually recovered.
- Saudi Arabia cut the price of its Arab Light grade to Asia by 30 cents a barrel to parity with Oman/Dubai for March, while it set the OSP to NW Europe at minus USD 0.65/bbl to Ice Brent settlement and set the OSP to US at plus USD 2.10/bbl vs ASCI.
- Mexico is reportedly evaluating how to send fuel to Cuba while avoiding US tariffs
- Spot gold declined in early Asia-Pac trade alongside a 9% slump in silver prices, but then staged a recovery with the precious metals ultimately higher on the day.
- Copper futures remained subdued following a 2-day losing streak and temperamental risk tone.
CRYPTO
- Bitcoin saw two-way price action in which prices initially dipped to below the USD 61,000 level amid early pressure across risk assets, but then recovered as sentiment gradually improved with prices returning to north of USD 64,000.
NOTABLE ASIA-PAC HEADLINES
- China’s Ministry of Agriculture issued an implementation plan to advance rural revitalisation and agricultural modernisation.
- BoJ board member Masu said the central bank is closely watching FX market moves and their impact on the economy and prices, while he noted that an appropriate and timely rate hike is needed. Furthermore, he said the BoJ will raise rates if the economy and prices are in line with the BoJ’s outlook, and noted that the real interest rate remains at a significantly negative level in Japan. He is convinced that continuing with further policy interest rate hikes will be needed to complete the normalisation of monetary policy in Japan.
- RBA Governor Bullock said much of the recent increase in inflation is judged to be temporary, but some of it seems to be persistent, while she added that the board will be monitoring closely the extent to which the strong inflation we have observed is persistent or temporary. Bullock also stated that the labour market is still doing very well, but noted that the RBA board is not happy with inflation and the prospects of getting it down.
- RBI maintained its Repurchase Rate at 5.25%, as expected, via a unanimous decision and voted to maintain its neutral policy stance. RBI stated that the current policy rate is appropriate, and underlying inflation remains low, while the Indian economy is on a steady and improving trajectory, but noted that external headwinds intensified since the last meeting. Furthermore, Governor Malhotra stated that net external demand remains a drag, rural demand remains steady, and the recovery in urban consumption is to strengthen, while the central bank lifted its FY26 CPI inflation forecast to 2.1% from 2.0%.
DATA RECAP
- Japanese Household Spending MoM (Dec) M/M -2.9% vs. Exp. -1.3% (Prev. 6.2%)
- Japanese Household Spending YoY (Dec) Y/Y -2.6% vs. Exp. 0% (Prev. 2.9%)
GEOPOLITICS
MIDDLE EAST
- Israeli PM Netanyahu said in closed sessions of the Knesset that political, military and economic factors brought Iran closer to a critical point, although he did not consider the fall of the government to be certain, while he warned that any Iranian attack would be met with a “strong response”.
- White House Press Secretary said diplomacy will be the focus in talks with Iran, and that Trump wants to see if a deal can be struck, although the US also reminded the Iranian regime that President Trump has many options besides diplomacy.
- Iranian Foreign Ministry spokesman Baghaei hopes the US side would also take part with responsibility, realism and seriousness, while he added that they have a responsibility not to miss any opportunity to use diplomacy to secure Iran’s national interests and regional peace and stability.
- Iran deployed an advanced long-range ballistic missile, Khorramshahr 4, at an underground facility, while the missile has a range of 2,000km and is capable of carrying a 1,500kg warhead, according to Iranian press.
RUSSIA-UKRAINE
- Ukrainian President Zelensky said the next round of talks on Ukrainian settlement is likely to take place in the US.
- US envoy Witkoff said Ukraine discussions were constructive and focused on how to create the conditions for a durable peace, while delegations agreed to report back to their respective capitals to continue trilateral discussions in the coming weeks. Witkoff stated they had a wide range of discussions on the remaining issues, including methods to implement a ceasefire and monitor the cessation of military activities, and noted Russia and Ukraine will exchange 157 PoWs.
- US Treasury Secretary Bessent said he continues to believe that Russian President Putin is a war criminal and stated that further Russian sanctions depend on the peace talks.
- US President Trump posted “Rather than extend “NEW START” (A badly negotiated deal by the United States that, aside from everything else, is being grossly violated), we should have our Nuclear Experts work on a new, improved, and modernized Treaty”.
2.a NORTH KOREA/SOUTH KOREA/JAPAN
SOUTH KOREA/USA
House Launches Investigation Into ‘Discriminatory’ South Korean Regulators After Trump Hits Seoul With 25% Tariff
Friday, Feb 06, 2026 – 06:55 AM
The House Judiciary Committee has opened a formal investigation into whether South Korean regulators are unfairly targeting American technology companies, as the two allies with a long history of economic and security cooperation find themselves embroiled in a heated dispute over trade, technology, and regulatory oversight – with government accusing the other of unfair practices.
Last October we highlighted that South Korea has effectively been extracting money from US tech firms in the form of fines and other punitive measures via the Korea Fair Trade Commission (KFTC). While the commission’s stated goal is to enforce antitrust laws, they’ve essentially morphed into bridge trolls, according to US officials.
In 2016, Qualcomm was hit with an $854 million penalty for what it called unfair business practices. In 2021, Google was hit with a $177 million fine for dominating the Android OS market. Apple, Meta and others have been similarly hit stemming from issues like in-app payment restrictions, proprietary algorithms, and alleged anti-competitive practices.
While Washington DC has allowed Seoul to pursue enforcement actions under the longstanding US – Korea alliance, the KFTC has morphed into an aggressive, often unpredictable enforcer whose investigations and fines have disproportionately targeted foreign market leaders.
📺 MUST WATCH: @repdarrellissa rips countries like South Korea for attacking American businesses and American workers.
Republicans and the Trump administration won’t let them get away with it. pic.twitter.com/sf2pR7IAxe— House Judiciary GOP 🇺🇸🇺🇸🇺🇸 (@JudiciaryGOP) December 16, 2025
According to one analysis, punitive fines from the KFTC are set to cause a combined $1 trillion in economic losses over the next decade ($525 billion for the U.S. and $469 billion for South Korea), as tighter controls on global tech firms present a “discriminatory” risk that could chill innovation and foreign investment.
Trump Takes a Swing
Following an October trip to Seoul by President Trump, it looked like the KFTC was willing to back off – only for things to go sideways less than two months later, resulting in the Trump administration canceling a key bilateral trade meeting.
Trump publicly accused South Korea last week of “not living up” to the terms of the October agreement, before slapping a new 25% tariff on Korean imports to the United States – blindsiding South Korean officials and sending ripples throughout the business community. South Korea notaly imported around $123 billion of goods to the US last year, making it the second largest export market after China.
Now, the House Judiciary Committee is on the case – launching an investigation into the KFTC, and have subpoenaed American e-commerce giant Coupang for documents and testimony, after the KFTC threatened massive penalties in the wake of a November 2025 breach, which exposed personal data of over 33 million customers (later expanded to include 165,000 more), attributed to a Chinese hacker but compounded by Coupang’s alleged inadequate cybersecurity and delayed detection. Coupang has faced over $100 million in previous fines over alleged search engine manipulation and unfair business practices. According to the lawmakers, obtaining records from Coupang will help Congress assess whether foreign regulatory policies and enforcement practices are affecting Americans’ due-process rights and the ability of U.S. companies to compete in global markets.
Coupang has vowed to fully cooperate, “including submitting the documents requested in the subpoena and having witnesses appear.”
In a letter dated Feb. 5, Committee Chairman Jim Jordan (R-OH), and Subcommittee Chairman Scott Fitzgerald (R-WI) said the probe will examine whether foreign laws and enforcement actions are being used to discriminate against U.S. firms and undermine their ability to compete globally.
Coupang, which is listed on the New York Stock Exchange, has become a focal point for U.S. officials, lawmakers and investors who argue that Seoul’s regulatory approach warrants closer scrutiny. In a statement to FOX Business, a spokesperson for the company said it would “fully cooperate with the U.S. House Judiciary Committee investigation, including production of documents and witness testimony as required by the subpoena.”
The committee said it is conducting oversight into “how and to what extent foreign laws, regulations, and judicial orders are being used to discriminate against innovative American companies and infringe on the rights of U.S. citizens.” As part of that effort, the subpoena seeks communications between Coupang and South Korean authorities, along with testimony from company representatives.
According to the letter, the KFTC has subjected U.S. firms to “punitive obligations, excessive fines, and discriminatory enforcement practices.” The letter also referenced recent regulatory actions involving Coupang, including scrutiny and potential penalties tied to a data-related incident, which the committee said exemplify broader concerns about how American-owned companies are treated under South Korean enforcement.
The investigation, they said, is intended to inform potential legislation aimed at protecting U.S. companies and citizens from what Congress describes as discriminatory foreign regulations and enforcement decisions.
2 b JAPAN
3. CHINA
CHINA/TAIWAN/USA
Xi Used Latest 2-Hour Call To Warn Trump On Taiwan Red Lines
Thursday, Feb 05, 2026 – 04:40 PM
More details have emerged from Wednesday’s Trump-Xi phone call, which it turns out was quite lengthy for the two leaders, lasting about two hours. We reviewed previously that President Trump hailed the “excellent” call, which was “long and thorough” – but Chinese version which was issued later presents something more contentious.
China’s official readout made clear that President Xi in the conversation focused heavily on Taiwan, and ways Washington can dial back the tensions over the self-ruled island.
Xi called the US approach to Taiwan “the most important issue in China-U.S. relations,” declaring that China “will never allow Taiwan to be separated from China.”
“The US must handle arms sales to Taiwan with extreme caution” Xi said, in reference to the billions in arms packages the US has signed off on over several years, spanning multiple administrations.
Taiwan was quick to respond to the contents of this call, with Taiwan’s president, Lai Ching-te, telling reporters Thursday: “The Taiwan-US relationship is rock solid, and all cooperation projects will continue uninterrupted.”
Separately Taiwan’s foreign ministry also pointed out that US weapons sales to Taiwan continue unabated, Xi’s warnings notwithstanding. Another key part of the call is seen in the following:
China is considering buying more U.S.-farmed soybeans, President Donald Trump said after what he called “very positive” talks with President Xi Jinping on Wednesday, even as Beijing warned Washington about arms sales to Taiwan.
In a goodwill gesture two months before Trump’s expected visit to Beijing, Trump said Xi would consider hiking soybean purchases from the United States to 20 million metric tons in the current season, up from 12 million tons previously. Soybean futures rallied.
Trump has repeatedly stressed the need to keep lines of communication open with Beijing, even as he insists on safeguarding American interests and regional security, and as Washington continues arms support to Taipei.
“The relationship with China, and my personal relationship with President Xi, is an extremely good one, and we both realize how important it is to keep it that way,” Trump had written on Truth Social Wednesday, soon after the call was conclued.
“I believe that there will be many positive results achieved over the next three years of my Presidency having to do with President Xi, and the People’s Republic of China!” – he followed with.
But to review of Xi’s red lines and Washington’s proneness to testing them: “In December, the US state department announced its largest-ever arms sales package to Taiwan, valued at more than $11.1bn and including missiles, artillery systems and drones,” writes The Guardian. “The package is yet to be approved by Congress.”
“China reacted angrily to the proposed arms sales, conducting two days of military drills around the island in late December, for which it dispatched air, navy and missile units,” report recalls.
end
4./EUROPEAN AFFAIRS
FINLAND
“Electricity Market Is F**ked”: Finland Wind Turbine Blades Freeze, Curbing Green Power Output
Friday, Feb 06, 2026 – 04:15 AM
Finland has prided itself as a global leader in decarbonization, boasting the second-highest share of renewables in final energy consumption across the EU. But the green utopia narrative has cracked under the strain of a brutal winter, as cold weather has brought wind power generation to a near standstill.
Most of the country’s wind capacity is concentrated in western Finland, where temperatures are well below freezing, and these adverse weather conditions have led to dangerous ice buildup on turbine blades. According to Bloomberg, this forced the grid operator Fingrid Oyj to curtail wind power output.
“There are low fog clouds in Finland’s main wind power production area, roughly at the height of turbine blades, which are causing new ice to form,” Pia Isolähteenmäki, an adviser at industry consultant Kjeller Vindteknikk Oy, told the outlet.
Much of Finland’s wind fleet lacks blade-heating systems for extreme cold weather. How is that even possible, considering it’s a Nordic country? Even the thinnest ice buildup risks equipment damage and has led to shutdowns this week.
Bloomberg data show that Finnish wind output is expected to remain very low for the next two weeks. Meteorologists at MetDesk forecast that Nordic wind generation will remain as much as 20% below normal through at least the midpoint of the month.
The result of the green utopia pushed by Europe’s climate alarmists, not based in reality whatsoever, is soaring power prices that are crushing working poor households.
“Electricity prices in Finland rise to the highest level of the winter on Monday, driven by severe cold, weak wind conditions and rising weekday demand,” local outlet Helsinki Times wrote on Sunday.
Finnish folks on X are questioning the government’s questionable decarbonization push:
In the US, a historic cold snap in the eastern half of the country led to increased fossil-fuel power generation to prevent power grid collapse.
Across the West, years of grid mismanagement by climate alarmist policymakers have transformed what were once reliable grids into fragile messes where working poor households bear the brunt of some of the highest electricity costs in the world.
It is time to get back to basics and expand natural gas generators and nuclear power, the only proven large-scale source of clean and reliable electricity. And it is also time to hold accountable the climate alarmists whose policy decisions pushed power grids toward the edge of collapse while promising a green utopia that was never going to arrive. And one can only wonder whether the move to push power grids to the brink of collapse was intentional…
END
SPAIN
BROOKE
Socialist Spanish Mayor Vowed To Block Migrant Minor Arrivals… Then Quickly Reversed Amid Political Pressure
Friday, Feb 06, 2026 – 02:00 AM
Authored by Thomas Brooke via Remix news,
The Socialist mayor of Cartes in northern Spain has reversed her opposition to hosting unaccompanied migrant minors after attempting to block their arrival, issuing a public apology following pressure from her party leadership.
Lorena Cueto, mayor of the Cantabrian town of around 6,000 residents, initially described the relocation of migrant minors to her municipality as “a punishment” and issued an emergency municipal order seeking to halt the reception of 18 foreign minors transferred under Spain’s national redistribution system.
The move sparked protests in the town and drew sharp criticism from both the regional government and figures within Cueto’s own Socialist party, who accused her of creating public alarm and obstructing a legally mandated relocation.
The conflict began when the Cantabrian regional government, led by the center-right People’s Party (PP), proceeded with plans to open a reception center in Cartes to relocate minors. Ironically, the move was only in compliance with the mandate issued by Prime Minister Pedro Sánchez’s government, the same Spanish Socialist Workers’ Party (PSOE) of which Cueto is affiliated.
According to Canarias7, two minors arrived at the center earlier this week, with further arrivals scheduled in subsequent days.
Cueto responded by signing a municipal order invoking alleged urban planning deficiencies at the facility and demanding an immediate halt to the arrivals.
The order reportedly threatened to seal the building and cut water and electricity supplies if the minors were accommodated.
Cantabria’s Minister of Social Inclusion, Begoña Gómez del Río, rejected the mayor’s claims, stating the facility had passed inspections and possessed the necessary licenses to operate.
She accused the mayor of attempting to obstruct the process and inflaming tensions in the town.
“The mayor of Cartes has made maneuver after maneuver to obstruct the reception and protection of the minors (…) She has created public alarm and warned all the municipalities of Cantabria to be on alert,” Del Río said at an urgent press conference.
Regional authorities moved to challenge the mayor’s order in court.
Facing mounting criticism and pressure from higher up in her left-wing party, Cueto abruptly changed position the following day, posting an apology on social media.
She expressed regret “for everything that is happening” and pledged her town’s commitment to welcoming the minors “before, now, and in the future,” as cited by Democrata.
Cueto insisted her “top priority” was the protection and well-being of the children so they could “find in our town the life opportunities they deserve.”
Pedro Casares, general secretary of the PSOE in Cantabria, publicly acknowledged that the town council had “made a mistake” and had “acted hastily,” though he indicated the party was not considering expelling Cueto.
Earlier, Spain’s Minister for Children, Sira Rego, criticized the mayor’s stance, stating that describing the arrival of minors as a punishment or threatening service cuts was “absolutely intolerable.”
“Children’s rights are not something to be trifled with,” she said, urging the mayor to rectify the situation and comply with the law.
Local residents have continued holding demonstrations, arguing the town lacks sufficient infrastructure and services to host the minors. Security concerns have also been raised, with the town’s local police reportedly operating only until mid-afternoon, leaving evenings without local patrols.
One resident told El País, “We’re not saying they’re criminals, but this isn’t a suitable place to integrate them. They have psychological problems from so much suffering, and it’s not easy.”
END
5. RUSSIA AND MIDDLE EASTERN AFFAIRS
ISRAEL TBN LAST 24 HR
END
IRAN VS USA UPDATES
no deal/they solve nothing! just a waste of time
Second round of indirect US-Iran talks conclude in Oman as Araghchi issues warnings
An Iranian official told Reuters the direct talks had not officially started, and that Iran’s demands had been conveyed to the US via Oman.
Iranian Foreign Minister Abbas Araghchi (L) meets with Omani Foreign Minister Badr bin Hamad al-Busaidi for indirect nuclear talks with the US in Muscat, Oman, February 6, 2026.(photo credit: VIA AMICHAI STEIN)ByJAMES GENN, REUTERSFEBRUARY 6, 2026 08:51Updated: FEBRUARY 6, 2026 16:26
Iran and the United States started high-stakes negotiations via Omani mediation on Friday to try to overcome sharp differences over Tehran’s nuclear program, while a dispute over widening the agenda risked derailing diplomacy and setting off another Middle East war.
Oman’s Foreign Minister Badr bin Hamad al-Busaidi held separate meetings with Iranian Foreign Minister Abbas Araghchi and the Trump administration’s special envoy Steve Witkoff, who was accompanied by special advisor Jared Kushner. Previous Iran‑US talks have used a shuttle-diplomacy approach.
“Very serious talks mediating between Iran and the US in Muscat today,” said Busaidi after confirming the ending of the talks, and added, “It was useful to clarify both Iranian and American thinking and identify areas for possible progress. We aim to reconvene in due course, with the results to be considered carefully in Tehran and Washington.”
/
“The consultations focused on preparing the appropriate conditions for resuming diplomatic and technical negotiations, while emphasising their importance, in light of the parties’ determination to ensure their success in achieving sustainable security and stability,” Oman’s Foreign Ministry stated.
An Iranian official told Reuters the direct talks had not officially started, and that Iran’s demands had been conveyed to the US via Oman. The official said indirect negotiations “possibly” would begin after a meeting between the top US negotiator and Oman’s foreign minister.
Araghchi claims Iran entering US talks ‘with open eyes, memory of 2025 talks’
These updates come after Iranian FM Abbas Araghchi commenting on X/Twitter that Iran “enters diplomacy with open eyes.”
Yet, the Islamic Republic has “a steady memory of the past year,” he noted, likely referring to how the last round of negotiations was disrupted by Israeli and American strikes on Iran in June.
“We engage in good faith and stand firm on our rights,” Araghchi claimed.
“Commitments need to be honored. Equal standing, mutual respect, and mutual interest are not rhetoric – they are a must and the pillars of a durable agreement,” the foreign minister affirmed.
Meanwhile, Ali Shamkhani, political advisor to Iran’s Supreme Leader Ayatollah Ali Khamenei, who participated in the 2025 talks and is likely participating in the renewed talks this weekend, commented that Araghchi is a “skilled, strategic and trustworthy negotiator at the highest levels of decision-making and military intelligence,” in a post on his own X page.
Iranian soldiers “will safeguard the nation’s interests” acting under Khamenei’s orders, Shamkhani added.
Notably, Shamkhani previously served as the naval chief of Iran’s military and of the Islamic Revolutionary Guard Corps.
His comments were posted in six languages: Farsi, Arabic, English, Hebrew, Russian, and Chinese.
Only acceptable negotiation result is Islamic Regime’s surrender to Iranian people, Crown Prince Pahlavi says
Additionally, Iranian Crown Prince Reza Pahlavi reacted to the renewed talks on Friday, commenting that the “only acceptable deal” is a deal where the “Islamic Republic surrenders to the people of Iran” in a post on his official X account.
“We are ready for such a deal, and it will bring peace to the region and the world,” Pahlavi affirmed, writing in both Farsi and English.
Araghchi denounces Germany’s Merz, E3 pressure on Iranian nuclear sanctions, Merz’s support for Israeli strikes last June
In a separate post, Araghchi reacted to Germany’s Chancellor Friedrich Merz, who called for an end to violence in Iran and noted that Berlin is prepared to increase pressure, engaging in talks aimed at bringing Iran’s nuclear program “to a swift end.”
Araghchi denounced Germany as an “engine of regression” that has fallen from its history as the “engine of Europe’s progress.”
He noted that the E3 (Germany, Britain, and France) pushed to reimpose UN sanctions on Iran, which the foreign minister believes “put an end to [E3s] role in nuclear negotiations,” alleging that Merz is now “begging” to be allowed to resume negotiations.
“We Iranians have unfortunately been faced with several other examples of Merz’s political naivety and distasteful character,” he accused.
He also commented that Merz “expressed exuberance” when Israel conducted airstrikes on Iran in June, and has “publicly daydreamed about Iran supposedly being weeks away from collapse.”
“Iran has always welcomed strong relations with Germany. It is, therefore, doubly regrettable that an individual such as Mr. Merz now represents Germany on the world stage. We hope that more mature and honourable political leadership will return to Germany,” Araghchi concluded.
Amichai Stein and Tobias Holcman contributed to this report
end
Indirect US-Iran Talks To Avoid War End In Agreement For 2nd Round, Cautious Optimism
by Tyler Durden
Friday, Feb 06, 2026 – 08:45 AM
The much anticipated talks between American and Iranian officials which kicked off Friday in Oman, in order to prevent war – or rather what many would describe as staving off US unprovoked attack – are being done in indirect fashion, at least in the opening phase.
Iran’s Foreign Minister Abbas Araghchi is in Muscat for the discussions, while Trump advisers Steve Witkoff and (his son-in-law) Jared Kushner are also taking part. Iran’s ministry of foreign affairs has stated the goal of the meeting is to reach “a fair, mutually satisfactory, and honorable agreement regarding the nuclear issue.” Just before 6pm Oman time, Iran’s state media reported the indirect talks with the US have ended “for now” – but without elaborating. Crucially, another round is set for the coming days. There are positive initial statements out of Tehran:
IRNA: INDICATORS OF AN UNDERSTANDING DURING THE FIRST ROUND OF NEGOTIATIONS WITH AMERICA
Iran wants the negotiations to only focus on the nuclear issues, while Washington has expressed concern over the Islamic Republic’s ballistic missiles and support for proxies in the region. But from Tehran’s perspective, it can’t discuss and negotiate away its own conventional arsenal which would be crucial in any future conflict with Israel or the US.
“We engage in good faith and stand firm on our rights,” Araghchi wrote on X just before going into the talks. He said his country “enters diplomacy with open eyes and a steady memory of the past year.” He added: “We engage in good faith and stand firm on our rights.”
The Omanis are mediating the talks, with the country’s foreign ministry describing, “The consultations focused on creating the appropriate conditions for the resumption of diplomatic and technical negotiations.”
There’s been a bit of a surprise addition, at a moment of the US military build-up in the region:
The commander of US Central Command (CENTCOM), Admiral Brad Cooper, was seen attending meetings on Iran in Oman.
A video posted by the state-run Oman News Agency showed Cooper participating in talks between US special envoy Steve Witkoff and President Donald Trump’s son-in-la, Jared Kushner during their meetings with Omani Foreign Minister Badr Albusaidi.
Despite talk of good faith and a conciliatory approach, the Iranian foreign ministry at the same time warned the Islamic Republic is “fully prepared to defend its sovereignty and national security” against “adventurism”.
Oil immediately responded to the cautiously optimistic headlines of furthering talks beyond Friday…
Al Jazeera has meanwhile captured some of the international reaction in the following:
- German Chancellor Friedrich Merz said concerns about Iran are “very, very high” among regional leaders, calling on Tehran to return to negotiations with the US and end its nuclear program as he ended his three-day tour in the Middle East.
- Russia said that it hopes the talks between Iran and the US would yield results and lead to de-escalation.
- An Iranian diplomatic source warns against the presence of US Central Command (CENTCOM) or any regional military officials during the ongoing indirect talks in Oman, the Reuters news agency reported.
Yves Smith laid out some likely outcomes days ago, before Friday’s negotiations were officially agreed to, in Trump Will TACO With Intent to Strike Later:
The most likely course is for some sort of sham negotiations to allow the US to climb down for now and for Trump to depict the mere fact of talks as a win and a proof of US domination. But don’t expect the US to relent. As Greg Stoker pointed out, the Israeli minister of defense was in Washington last week to hand over the strike packages. Israel has not given up on Project Iran. The hawks most assuredly have not.
…
Israel can be expected to do the obvious, which is to continue to engage in what is too politely called asymmetric warfare or more accurately called terrorism, both to try to destabilize Iran and to preserve credibility among the warmongers in the Beltway. How far that gets in the next few months will be an indicator of how much Iran has been able to ferret out and destroy Mossad networks in Iran after its 12 Day War decapitation attacks and its recent protest escalations.Trump is admittedly becoming more and more erratic every day. He might wind up concluding he has too much manhood at stake to back down now or any time very soon with Iran. But as you can see, he has many many reasons to try to find a way to retreat, even if he tells himself it is only temporary.
Starting a new major conflict in the heart of the Middle East would not sit well with Americans, whether on the right or left, and certainly MAGA voters might recall the rhetoric blasting neocon foreign adventurism on the campaign trail.
These delicate talks could indeed prove the avenue for climb-down from ‘military solution’ – or else a launching pad toward conflict, providing an ‘excuse’ based on imposing demands that Iran can never live up to.
ISRAEL VS HAMAS UPDATES
RUSSIA VS UKRAINE
Top Russian Military Intelligence Official Shot & Wounded In Moscow Apartment
Friday, Feb 06, 2026 – 11:00 AM
A top Russian military intelligence general has been shot in a Moscow apartment building on Friday, but has reportedly survived the attack and was transported to a local hospital. But his wounds are reportedly severe.
The attack by an unknown gunman has all the hallmarks of an assassination attempt in connection to the Ukraine war, especially given the victim is a high level Russian intelligence official. Vladimir Alekseyev is the deputy head of Moscow’s GRU military intelligence, and has long been sanctioned in the West for his alleged role in cyberattacks and allegations that he was behind the alleged 2018 Novichok nerve agent attack in Britain.
Lt. Gen. Alekseyev was shot several times by an “unidentified individual” before that person fled the scene. The highly decorated general, who has also heavily involved in Russia’s Syria campaign of the last decade, has been first deputy head of Russia’s military intelligence since 2011.
Russian Foreign Minister Sergei Lavrov soon after accused Ukraine of being behind the “terrorist act” and alleged it is trying “disrupt the negotiation process” toward forging peace. According to further details:
According to the Investigative Committee of the Russian Federation, the attack took place on the 24th floor of a building on Volokolamskoye Highway.
Petrenko said that the unknown assailant shot the general several times and then fled the scene. As a result of the shooting, Alekseyev was wounded and hospitalized.
Based on the scant information presented by Russia’s Investigative Committee, it seems the assassin was easily able to gain access to the building, and that the top general’s apartment was broken into.
Ukraine has remained silent on the shooting of Gen. Alekseyev – despite Kiev having in the past claimed responsibility for some other attacks. For example, to review another couple of recent assassinations of top generals:
- In December, Lt. Gen. Fanil Sarvarov, head of the Operational Training Directorate of the Russian Armed Forces’ General Staff, was killed when a car bomb detonated.
- In April, another senior officer, Lt. Gen. Yaroslav Moskalik—deputy head of the General Staff’s main operational department—was assassinated by an explosive device planted in his vehicle outside his apartment building just beyond Moscow.
Meanwhile an Azov commander is vowing that “retribution will find everyone”…
These covert hits has unnerved Russia’s command ranks, given they take place deep inside Russia, and even in high-secured neighborhoods which residents might otherwise think are same or immune from the events of the Ukraine war.
As for Alekseyev, it’s possible he could succumb to the gunshot wounds, as Russian media has indicated he remains in critical condition in an intensive care wing.
6. GLOBAL ISSUES//COVID ISSUES/VACCINE ISSUES/HEALTH ISSUE
GLOBAL ISSUES
MARK CRISPIN MILLER
In memory of those who “died suddenly” in the United States and worldwide, January 26-February 2, 2026
Actress Catherine O’Hara (Schitt’s Creek); rapper Michael “5000” Watts; footballer Scott Laidlaw; singers Parthenon Huxley, Gabe Lopez (49, C); bassist ‘Billy Bass’ Nelson (Funkadelic); & more
| Mark Crispin MillerFeb 6 |
A survey of the likely global toll of COVID “vaccination,” based on the reports collected by our worldwide team of researchers this past week.
To help support our work, consider subscribing or making a donation.
UNITED STATES (58)
Catherine O’Hara, ‘Schitt’s Creek’ and ‘Home Alone’ Star, Dies at 71
January 30, 2026
Catherine O’Hara, the two-time Emmy-winning actor who starred in “Home Alone” and “Best in Show” and had an impressive late-career renaissance in “Schitt’s Creek,” has died, her manager confirmed to Variety. She was 71. According to her agency CAA, O’Hara died Friday at her home in Los Angeles following a brief illness.
Researcher’s note – Many rumors are circulating online about O’Hara’s death, but that’s just it – they’re rumors. Here’s a good article about what’s confirmed and what isn’t confirmed about O’Hara (and applies to most celebrity deaths without a clearcut cause): Link
Houston Hip Hop Legend, Swishahouse Founder Micheal “5000” Watts Passes Away At 52
February 2, 2026
Houston Hip Hop lost one of its most important pillars with the passing of Michael “5000” Watts, the founder of Swishahouse and one of the most influential figures the city has ever produced. Watts passed away at 52, leaving behind a legacy that helped define not only Houston’s sound but also the direction of Southern Hip Hop as a whole.
No cause of death reported.
Prayers Pour In as Roger Staubach-Era Cowboys RB Tragically Passes Away at 72
February 2, 2026
On Friday, former Cowboys running back Scott Laidlaw passed away at the age of 72, as confirmed by WFAA. The news hit hard for fans who cherish the team’s golden era, leaving many in shock and sending waves of prayers across social media. The news comes as a surprise since Laidlaw was just honored last December alongside his “Dirty Dozen” rookie classmates for their contributions to the Cowboys’ 1970s dynasty. That event brought back old teammates for a special reunion in Dallas. The legend said it was “Fun” meeting everybody after a long time.
No cause of death reported.
Beloved Singer Tragically Passes Away in His Sleep
February 2, 2026
Parthenon Huxley [70] was a musician celebrated for his solo work and collaborations with other artists, including Mark Oliver Everett of the alternative rock band Eels and ELO II. The tragic news of Huxley’s passing was announced by his heartbroken wife in a Facebook post. Huxley died in his sleep on January 30.
No cause of death reported.
‘Funkadelic’ Legend and Funk Rock Pioneer Dead at 75
February 1, 2026
William ‘Billy Bass’ Nelson, the original bassist for the funk rock band Funkadelic and a key figure in 1970s funk, has died at 75. Nelson got his start as a teenager working in singer George Clinton’s barbershop before joining Clinton’s doo‑wop group, the Parliaments, in a backing band he eventually named Funkadelic-later evolving into the legendary Parliament‑Funkadelic collective. No cause of death has been disclosed, though the bassist had reportedly been in hospice care.
Mingo Lewis Passes Away
January 31, 2026
A master percussionist who revolutionized the sound of jazz-fusion and progressive rock by integrating complex Afro-Cuban rhythms with cutting-edge synthesizers in his collaborations with Carlos Santana, Al Di Meola, and Chick Corea. He was 72 years old. In addition to his prolific work as a sideman, Lewis showcased his skills as a bandleader and multi-instrumentalist with his 1976 solo debut, Flight Never Ending (1976).
No cause of death reported.
Singer and RPDR Producer Gabe Lopez Dies at 49 After Lymphoma Battle
February 1, 2026
Los Angeles, CA – Gabe Lopez, a singer, songwriter, and producer whose work deeply enriched the LGBTQ+ music scene, died on Sunday, January 25, 2026, after a brief but intense battle with lymphoma, a cancer of the lymphatic system. He was 49.
A Hip-Hop Producer Who Worked With Kanye West Has Died: Profit Was 43
January 28, 2026
Veteran songwriter and producer Tobias “Profit the Producer” Smith, known for his work with Kanye West and AEW star Swerve Strickland, has died. Smith, a Cocoa, Florida, native, passed away on Jan. 19, according to his online obituary. He was 43 years old. Smith’s friend, Terrance Denail Burney, also confirmed his death in a heartfelt Instagram post. Though Smith’s cause of death hasn’t been officially revealed, Burney seems to imply it was sudden and possibly a heart attack at the conclusion of his post.
Man known as the original Jazz Bear dies after battle with pancreatic cancer
January 31, 2026
SALT LAKE CITY, UT – Jon Absey, the original Jazz Bear mascot for Utah Jazz, died after being diagnosed with pancreatic cancer in March 2025. Absey performed as the Jazz Bear for 25 years after first putting the costume on in 1994. He was Mascot of the Year five times and even got the Utah Jazz mascot into the Mascot Hall of Fame after performing many daredevil stunts while he wore the costume.
No age reported.
Tributes pour in for longtime Philadelphia sportswriter Dan McQuade after his death aged just 43 following cancer battle
January 29, 2026
The iconic sportswriter has died aged 43 following a battle with cancer. Dan McQuade was a key figure in the Philadelphia, Pennsylvania, sports scene. He had been diagnosed with neuroendocrine cancer. Neuroendocrine cancers are rare and often feature slow-growing tumors. These are formed by the body’s hormone-producing cells. McQuade was formerly the editor of Deadspin and co-founder of Defector. His death was announced on Defector Editor in Chief Tom Ley. “At the end of 2024, Dan was diagnosed with neuroendocrine cancer,” Ley wrote. “The news of his diagnosis hit all of us hard, but Dan never lost his enthusiasm or his spirit.
Researcher’s note – In this podcast, McQuade talks about his experience getting the COVID “vaccine”: Link
Former Pittsburgh Disc Jockey Dies
January 29, 2026
PITTSBURGH, PA – A former disc jockey who spent nearly a decade at one of Pittsburgh’s best-known radio stations has died. Former WYDD-FM DJ Dave Shedlock died on Monday after a battle with cancer. He was 68. Shedlock, of East Deer, PA, worked at WYDD from 1981 until 1989 when it was one of the city’s most popular stations.
Popular TikTok star who helped the homeless dies suddenly
January 28, 2026
A popular TikTok star praised for volunteer work helping homeless people has tragically died. Shirley Raines was an activist who was known for giving out food and aid to people on the streets in Los Angeles’ Skid Row – an area of the city with one of highest homeless numbers in the United States. And the 58-year-old’s sister has issued a message to say she died at her home in Nevada on Tuesday. The mum of six was found dead by her bed, her sister Sheila told TMZ, with the whole family in shock. She was reported to have been in good health and cause of death has so far been given.
Update to our December report:
Cause of Death Revealed for YouTuber Adam the Woo, 5 Weeks After the 51-Year-Old’s Body Was Found at His Florida Home
January 27, 2026
The cause of death of YouTuber Adam the Woo has been revealed by his family. Adam the Woo, whose real name was David Adam Williams, died suddenly at his home in Celebration, Fla., at the age of 51, on Dec. 22. In a Facebook post shared on Monday, Jan. 26, Adam’s father Jim confirmed his cause of death as atherosclerotic and hypertensive cardiovascular disease, which led to a “heart attack in his sleep,” following an autopsy report.
Researcher’s note – Williams was “vaccinated”: I Got The Vaccine – Why I Changed My Mind / My Experience & Thoughts On Waiting So Long To Decide”:
Two infants “died suddenly”:
Cori Broadus Mourns Death of Her 10-Month-Old Daughter Codi Dreaux
February 1, 2026
Cori Broadus, the daughter of Snoop Dogg, has announced the heartbreaking death of her baby daughter, Codi Dreaux. The 10-month-old passed away on January 26 (2026), just weeks after finally coming home from the hospital. Codi Dreaux was born in February 2025 at just 25 weeks gestation. Cori developed HELLP syndrome during pregnancy, a severe and potentially life-threatening condition for both mother and child. Because of her extreme prematurity, Codi spent nearly her entire life in the Neonatal Intensive Care Unit at UCLA. She faced ongoing medical challenges, but her family remained hopeful throughout her long hospitalization. Earlier this month, Cori and her fiancé, Wayne Deuce, celebrated a major milestone. Around January 6 to 10, they announced that Codi was finally released from the NICU and able to come home. Tragically, that joy was short-lived. Reports indicate that Codi passed away unexpectedly in her sleep, with no public indication of prior illness or warning signs.
No cause of death reported.
Isaac Matthew Putnam, 7 weeks
January 29, 2026<p style=”margin: 0 0 20px 0;color: rgb(54,
DR PAUL ALEXANDER
NEWSWIZE
| Savannah Guthrie Pleads With Suspected Kidnappers In Gut-Wrenching VideoLongtime NBC News host Savannah Guthrie, alongside her sister, Annie and brother, Camron, issued a gut-wrenching video statement in which she pleaded for the safe return of her mother, Nancy, who been missing for four days. The siblings pleaded with the suspected kidnapper(s) and asked for proof of life, seemingly confirming the existence of a ransom note. The statement, which …READ THE FULL REPORT |
| Police Return To Nancy Guthrie’s Home, Launch Search Of Nearby Wooded AreaInvestigators returned to the home of Nancy Guthrie, 84, and launched a search of a wooded area not far from the property on Wednesday evening. The latest development comes as the search for Guthrie, the mother of longtime NBC News host Savannah Guthrie, enters its fourth day. The Pima County Sheriff’s Office confirmed the presence of investigators and instructed members …READ THE FULL REPORT |
| GOP Reps Calls For Bill Gates To Testify On Epstein FilesRep. Nancy Mace, R-(S.C.), is calling on Congress to compel billionaire Bill Gates to testify under oath about his past relationship with deceased sex offender Jeffrey Epstein following the release of millions of pages of newly disclosed federal records tied to the Epstein investigation. Mace formally requested that House Oversight Committee Chairman James Comer issue a subpoena for Gates, citing …READ THE FULL REPORT |
| Trump Shares Thoughts On A Vance-Rubio Ticket In 2028While speaking with NBC News, President Donald Trump shared his thoughts on the strength of a hypothetical Vance-Rubio presidential ticket in 2028. When asked about the future, Trump expressed confidence in both men without making a definitive endorsement for one over the other or specifying ticket order. Trump has largely remained vague on the topic, but indicated he would be …READ THE FULL REPORT |
| US-Iran Nuclear Talks Revived After Regional PressureNegotiations between the United States and Iran over Tehran’s nuclear program have been revived after appearing on the brink of collapse earlier this week, following urgent lobbying from Arab and Muslim leaders who pressed the Trump administration not to walk away from the talks. Plans are now back on for U.S. and Iranian officials to meet Friday in Oman, marking …READ THE FULL REPORT |
END
MICHAEL EVERY/OR OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIR
Europe In Decline
Friday, Feb 06, 2026 – 11:20 AM
By Teeuwe Mevissen of Rabobank
Not even a month ago, today’s author of the Global Daily walked through the main hall of the Musée d’Orsay, admiring its remarkable collection. Among the many sculptures, one large painting by Thomas Couture inevitably draws the eye: Romans in Their Decadence.
At first glance, it appears to depict Roman citizens engaged in an orgy, but a closer look reveals far more. Beyond the opulence on display, one sees a figure desecrating a statue resembling a former emperor or deity. Only three figures – the contemplative man on the far left and two men observing with evident disdain on the right – seem detached from the excess around them.
When the painting debuted at the Paris Salon, the exhibition catalogue included a quote from Juvenal:“Nunc patimur longae pacis mala; savior armis luxuria incubuit, victumque ulciscitur orbem.” – “Now do we suffer the evils of prolonged peace; luxury, more ruthless than the sword, broods over us and avenges a conquered world.”
A portrait of Rome in decline. And today, some argue, a portrait of Europe.
Political and economic commentators increasingly draw parallels between today’s Europe and the late Roman Empire. Those who subscribe to the decline narrative point to data showing that Europe’s share of global GDP has fallen from 25% in 1990 to roughly 14% today. Others highlight the innovation gap, demographic headwinds, and the erosion of industrial competitiveness. While these trends worry many, a Wall Street Journal report yesterday added a more urgent dimension: a recent wargame underscored Europe’s vulnerability to a potential Russian attack.
The Dutch Defence Minister noted that “Russia will be able to move large amounts of troops within one year” and that Moscow is already expanding its assets along NATO borders. This alone underscores the perceived urgency amongst European leaders to accelerate efforts to rebuild and modernize its military capabilities – and suggests that Europe’s geopolitical weight has indeed diminished.
Whether Europe is truly in decline remains subject to debate, but equity markets certainly are. And, in fact, particularly US markets this time – with the S&P500 now down 0.7% year-to-date but the European Stoxx 600 index still up 2.8%. Investor sentiment has deteriorated sharply. While the selloff had moderated at the time of writing, US tech stocks experienced steep declines, with Amazon losing 11% in extended trading. Bitcoin also continued its slide, touching lows not seen since October 2024 and barely holding above $60,000. Oil prices remain somewhat elevated, with traders watching closely to see whether the US will take action against Iran in the coming days.
In another Wall Street Journal article, China’s leadership appears to have concluded that the deterioration in U- China trade relations is irreversible and likely to lead to a messy decoupling. This raises important questions about how such a shift might affect China’s broader trade surplus. Here, we argue that China is likely to maintain significant trade surpluses for the foreseeable future. One important reason is that 2025 has demonstrated that it is not so easy to decouple from China; another is that countries like Canada and the UK reconsider their trade relationship with China because of ongoing trade tension with the US.
Turning to central banks: the ECB left rates unchanged yesterday, keeping the deposit rate at 2% for the fifth consecutive meeting. No forward guidance was provided, and the Governing Council judged that risks remain broadly balanced. The ECB struck a generally constructive tone, citing low unemployment, strong private sector balance sheets, and ongoing investment in defence and infrastructure.
However, it also warned of persistent geopolitical risks and uncertainties around global trade policy. Until the data clearly point in a particular direction, the ECB is likely to remain on hold. As expected, questions arose about the recent EUR/USD rally, which briefly pushed the pair to 1.2044 eight days ago , yet President Lagarde remained calm despite acknowledging that a stronger euro could contribute to lower inflation. A full summary of the meeting can be found here.
At the Bank of England, the meeting was more eventful. Rates were held at 3.75%, but the split vote – 5 in favour of holding, 4 pushing for a cut – was unexpectedly narrow, with Governor Bailey casting the deciding vote. This increases the likelihood of a March cut, a view we have held for some time. New guidance that “judgements around further policy easing will become a closer call” triggered a repricing in markets, with the probability of a March cut rising from 20% before the announcement to around 60% at the time of writing. Full coverage of the meeting is available here.
7. OIL ISSUES/NATURAL GAS/ENERGY ISSUES/GLOBAL
INDIA/USA
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 6;30AM//OPENING AND CLOSING
USA DOLLAR VS EURO: 1.1798 FOR A GAIN OF .0022 OR 22 BASIS PTS.
USA/ YEN 157.03 UP 0.2224 NOW TARGETS INTEREST RATE AT 1.75% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//END OF YEN CARRY TRADE BEGINS AGAIN DEC 2024/Bank of Japan raises rates by .25% TO 1.75 ..TAKAICHI NEW PM AS YIELDS RISE//JAPAN DEEPLY IN TROUBLE WITH RISING RATES AND A FALLING YEN!!
GBP/USA 1.3582 UP 0.0061 OR 61 BASIS PTS
USA/CAN DOLLAR: 1.3680 DOWN 0.0020 CDN DOLLAR UP 20 BASIS PTS//
Last night Shanghai COMPOSITE CLOSED DOWN 10.33 pts or 0.25%
Hang Seng CLOSED DOWN 325.29 PTS OR 1.21%
AUSTRALIA CLOSED DOWN 1.43%
// EUROPEAN BOURSE: MOSTLY ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: MOSTLY ALL RED
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 325.29 PTS OR 1.21%
/SHANGHAI CLOSED DOWN 10.33 PTS or 0.25%
AUSTRALIA BOURSE CLOSED DOWN 1.43 %
(Nikkei (Japan) CLOSED UP 476.56 PTS OR 0.87%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 4874.20.
silver:$74.30
USA DOLLAR VS TRY (TURKISH LIRA): 43.61
USA DOLLAR VS RUSSIAN ROUBLE: 76.41 ROUBLE// DOWN 15 BASIS PTS
UK 10 YR BOND YIELD: 4.5390 DOWN 2 BASIS PTS
UK 30 YR BOND YIELD: 5.360 DOWN 1 BASIS PTS
CDN 10 YR BOND YIELD: 3.404 DOWN 2 BASIS PTS
CDN 5 YR BOND YIELD; 2.910 DOWN 2 BASIS PTS
USA dollar index early FRIDAY morning: 97.67 DOWN 3 BASIS POINTS FROM THURSDAY’s CLOSE
FRIDAY MORNING NUMBERS ENDS
And now your closing FRIDAY NUMBERS 11: 30 AM
Portuguese 10 year bond yield: 3.207% DOWN 2 in basis point(s) yield
JAPANESE BOND 10 yr YIELD: +2.2250% UP 1/2 FULL POINTS BASIS POINTS /JAPAN losing control of its yield curve/
JAPAN 30 YR: 3.562 DOWN 1 BASIS PTS//DIASTER
SPANISH 10 YR BOND YIELD: 3.219 DOWN 2 in basis points yield
ITALY 10 YR BOND: 3.469 DOWN 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (
GERMAN 10 YR BOND YIELD: 2.8413 DOWN 1 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 1.1824 UP 0.0048 OR 48 basis points
USA/Japan: 155.81 UP 0.004 OR YEN IS DOWN 4 BASIS PTS// HIGHLY INFLATIONARY TO JAPAN
Great Britain 10 YR RATE 4.5340 DOWN 2 BASIS POINTS //
GREAT BRITAIN 30 YR BOND; 5.346 DOWN 3 BASIS POINTS.
Canadian dollar UP 50 BASIS pts to 1.3630
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The USA/Yuan CNY UP TO 6.9390 ON SHORE ..
THE USA/YUAN OFFSHORE// CNH UP TO 6.9320
TURKISH LIRA: 43.61 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
Your closing 10 yr US bond yield DOWN 0 in basis points from THURSDAY at 4.212% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.862 DOWN 0 basis points /11:00 AM
USA 2 YR BOND YIELD: 3.462 DOWN 0 BASIS PTS.
GOLD AT 10;00 AM 4940.50
SILVER AT 10;00: 76.07
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest ratesFRIDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 60.53 PTS OR 0.59%
GERMAN DAX: CLOSED UP 230,40 OR 0.44%
FRANCE: CLOSED UP 35.67 PTS OR 0.43%
Spain IBEX CLOSED UP 197.00 PTS OR 1.11%
Italian MIB: CLOSED UP 57.63 PTS OR 0.63%
WTI Oil price 63.24 10.00 EST/
Brent Oil: 67.33 10:00 EST
USA /RUSSIAN ROUBLE /// AT: 77.96 ROUBLE DOWN 1 AND 20 / 100
CDN 10 YEAR RATE: 3.420 UP 2 BASIS PTS.
CDN 5 YEAR RATE: 2.938 UP 3 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1820 UP 0.0044 OR 44 BASIS POINTS//
British Pound: 1.3615 UP 0.0093 OR 93 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.5150 DOWN 4 FULL BASIS PTS//
BRITISH 30 YR BOND YIELD: 5.338 DOWN 2 IN BASIS PTS.
JAPAN 10 YR YIELD: 2.232 UP 1 FULL BASIS PTS (DANGEROUS TO THEIR ECONOMY
JAPANESE 30 YR BOND: 3.569 UP 1 PTS AND STILL VERY DANGEROUS TO THEIR ECONOMY
USA dollar vs Japanese Yen: 157.14 UP 0.333 OR YEN DOWN 33 BASIS PTS EXTREMELY DANGEROUS/YEN FALLING DEEPLY IN VALUE
USA dollar vs Canadian dollar: 1.3659 DOWN 0.0053 PTS// CDN DOLLAR UP 53 BASIS PTS
West Texas intermediate oil: 63.36
Brent OIL: 67.86
USA 10 yr bond yield DOWN 1 BASIS pts to 4.203
USA 30 yr bond yield: DOWN 1 PTS to 4.855%
USA 2 YR BOND 3.498 UP 2 PTS
CDN 10 YR RATE 3.403 DOWN 0 BASIS PTS
CDN 5 YEAR RATE: 2.9180 UP 1 BASIS PTS
USA dollar index: 97.50 DOWN 20 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 43.60 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 77.00 DOWN 0 AND 25/100 roubles //
GOLD $4949.60 3:30 PM)
SILVER: 77.52 3;30 PM)
DOW JONES INDUSTRIAL AVERAGE: UP 1,206.95 OR 2.47%
NASDAQ 100 DOWN 490.63 PTS OR 1.38%
VOLATILITY INDEX 17.50 DOWN 4.27 PTS OR 19.61%
GLD: $ 455.46 UP 13.58 PTS OR 0.39%
SLV/ $70.20 UP 3.51 PTS OR OR 5.26%
TORONTO STOCK INDEX// TSX INDEX: CLOSED UP 429.18 PTS OR 1.34%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
“Is It Over?”: Big Bounce End Bad Week With Dow Crossing 50K Ahead Of Super Bowl
WRAP UP’:
Stocks rally into weekend as tech leads the way – Newsquawk US Market Wrap
Friday, Feb 06, 2026 – 04:05 PM
- SNAPSHOT: Equities up, Treasuries flat, Crude up, Dollar down, Gold up
- REAR VIEW: US-Iran agreed to continue talks; UoM Sentiment tops expectations; Canada unemployment rate drops; Fed’s Jefferson says policy is well positioned; Fed’s Daly sees 1 or 2 rate cuts this year; China reportedly approves some rare earth exports to Japan; AMZN hikes FY26 capex outlook, reigniting overspending concerns; Trump admin is reportedly exploring opening an antitrust probe into homebuilders.
- WEEK AHEAD: Highlights include US NFP and CPI, Japanese Election, UK GDP and China Inflation. Click here for the full report.
- CENTRAL BANK WEEKLY: Previewing BoC Minutes; Reviewing BoE, RBA, ECB, RBI, Banxico and Riksbank Minutes. Click here for the full report.
- WEEKLY US EARNINGS ESTIMATES: Earnings season continues with highlights including CVS, CSCO, AMAT. Click here for the full report.
More Newsquawk in 2 steps:
- 1. Subscribe to the free premarket movers reports
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MARKET WRAP
Stocks surged on Friday, recouping some of the recent losses. Upside came despite the weakness in Amazon (AMZN) shares after the company ramped up its FY26 CapEx view. Gains were led by Tech and Industrials, with semiconductors surging, which are largely seen as a beneficiary of the hikes in CapEx plans from tech behemoths. However, it was the Russell that outperformed, followed by the Dow, which crossed 50k for the first time. The heavy caps, Google, Meta and Amazon underperformed on Friday – weighing on the Communication and Consumer Discretionary sector. Health Care was also green, albeit the Medicare providers were hit following Molina (MOH) earnings (-30%), weighing on Centene (CNC) and initially others like UNH, HUM and ELV, albeit the latter three stocks managed to turn losses around. The risk on trade supported cyclical currencies with AUD and NZD outperforming, with GBP and CAD also gaining, while the havens – JPY, USD and CNH underperformed. Note, CAD was also supported by the jobs report, while JPY traders were tentative ahead of the election on Sunday. T-Notes were ultimately little changed across the curve with a slightly flatter bias while attention largely turns to next week’s events, including US NFP and CPI, as well as Treasury issuance. Data today saw the UoM beat on the headline, while inflation expectations were revised down for the 1-year but revised up marginally for the 5-10 year. Crude prices settled in the green in choppy trade as attention resided on the outcome of US/Iran talks, which appear to have gotten off to a good start, but discussions will continue. Crypto prices rebounded from the recent slump, while gold and silver also surged.
US
JEFFERSON: Fed Vice Chair Jefferson said current monetary policy is well positioned and roughly neutral, allowing flexibility for supply-side developments, with future decisions to remain data-dependent. He is cautiously optimistic about the economic outlook, projecting 2.2% growth in 2026, and sees the job market as stabilizing in a low-hire, low-fire environment, with recent softness tied to reduced demand and immigration challenges. On inflation, Jefferson reaffirmed the Fed’s strong commitment to price stability, viewing tariffs as a one-time driver of 2025 inflation, with pressures expected to ease in 2026. He noted that stronger productivity could help temper inflation, and while upside risks remain, inflation should moderate, with December PCE estimated at 2.9% Y/Y – in line with Fed Chair Powell’s view.
DALY (2027 Voter, Dove): Said she keeps a “very open mind” on interest rates and currently leans toward more rate cuts in 2026, though it’s unclear whether that would mean one or two cuts. She supported the Fed’s recent decision to hold rates steady but noted that a case could have been made for a cut. Daly emphasised that to justify easing, the Fed would either need greater confidence that inflation is sustainably falling or see more signs of weakness in the labour market, which she views as more vulnerable than inflation at present. She observed that many workers feel they are walking a “knife’s edge,” and if the labour market shifts from a “no firing” to a “some firing” environment, the Fed may need to respond with rate cuts. However, she also stated she’d be comfortable holding rates steady for longer if inflation were to reaccelerate.
MICHIGAN: University of Michigan prelim for Feb, saw Sentiment unexpectedly rise to 57.3 from 56.4, despite the forecasted drop to 55. Current Conditions also unexpectedly lifted, printing 58.3 (exp. 54.9) from 55.4. Expectations fell more than expected to 56.6 from 57.0 (exp. 56.7). Inflation expectations were mixed. The 1yr fell to 3.5% from 4.0% while the 5yr ticked higher to 3.4% from 3.3%. UoM Director Hsu noted that sentiment surged for consumers with the largest stock portfolios, while it stagnated and remained at dismal levels for consumers without stock holdings. “Concerns about the erosion of personal finances from high prices and elevated risk of job loss continue to be widespread”.
FIXED INCOME
T-NOTE FUTURES (H6) SETTLED HALF A TICK LOWER AT 112-03+
T-Notes flatten ahead of supply and key macro data next week. At settlement, 2-year +1.5bps at 3.498%, 3-year +1.2bps at 3.569%, 5-year +0.3bps at 3.755%, 7-year -0.1bps at 3.973%, 10-year -0.4bps at 4.206%, 20-year -0.8bps at 4.796%, 30-year -0.8bps at 4.855%.
THE DAY: T-Notes flatten in quiet trade, as price action was likely profit taking from the upside seen on Thursday following the soft labour market data, which saw 10-year yields fall by 7bps – the largest move in the 10-year this year so far. Attention next week turns to supply with 3, 10 and 30-year issuance due from the Treasury, while corporate supply may also pick up following a busy few weeks of earnings. Next week also sees key data from the US, including the delayed January NFP report, now scheduled for Wednesday, with US CPI on Friday. The focus today was largely on geopolitics, particularly around the US and Iran talks – which are seemingly off to a good start but with more discussions to follow. Meanwhile, data saw the preliminary February UoM report, where headline sentiment rose to 57.3 from 56.4 and above the 55 forecast. The upside was led by current conditions rising to 58.3 from 55.4, above the 54.9 forecast, while forward-looking expectations eased to 56.6 from 57.0, marginally below forecasts. The inflation expectation saw the 1-year drop to 3.5% from 4.0%, while the 5-year rose to 3.4% from 3.3%. Meanwhile, we saw Fed speak from Vice-Chair Jefferson, San Francisco Fed’s Daly and outgoing Atlanta Fed President Bostic. Jefferson largely toed a neutral stance, noting policy is roughly neutral. Daly highlighted how businesses are more optimistic than consumers, while Bostic said sentiment in his district is one of cautious optimism, noting they need to keep policy restrictive to get inflation to 2%. Looking ahead, and when trade reopens after the weekend, attention might reside around the reaction in JGBs following the Japanese election.
SUPPLY
Bills
- US to sell USD 90bln of 6-week bills on February 10th; to sell USD 89bln 3-month bills and USD 77bln of 6-month bills on February 9th; all to settle on February 12th
Notes
- US to sell USD 58bln in 3-year notes on February 10th, USD 42bln in 10-year notes on February 11th, and USD 25bln in 30-year bonds on February 12th.
STIRS/OPERATIONS
- Market Implied Fed Rate Cut Pricing: March 1.3bps (prev. 1bps), April 5.3bps (prev. 5.3bps), June 16.8bps (prev. 16.8bps), December 49.2bps (prev. 49.2bps).
- NY Fed RRP op demand at USD 3.11bln (prev. 1.75bln) across 6 counterparties (prev. 6)
- EFFR at 3.64% (prev. 3.64%), volumes at USD 110bln (prev. 109bln) on February 5th
- SOFR at 3.65% (prev. 3.65%), volumes at USD 3.228tln (prev. 3.310tln) on February 5th.
CRUDE
WTI (H6) SETTLED USD 0.26 HIGHER AT 63.55/BBL; BRENT (J6) SETTLED USD 0.50 HIGHER AT 68.05/BBL
The crude complex ended a choppy day with gains amid broad-based risk-on sentiment, despite US-Iranian talks. On the day, WTI and Brent moved lower throughout the duration of the EU session to hit troughs of USD 62.20/bbl and 66.56, respectively, before rebounding through the US afternoon to settle off highs, as benchmarks were seemingly tracking risk-on sentiment, amid the rebound in US stocks and tech. US/Iran talks did not yield much new, although in conclusion of the meeting in Muscat, delegations returned to their capitals for further consultations, with the Iranian foreign minister noting the two agreed on continuous negotiations and the wall of mistrust should, and must, be overcome. In more recent reports, a regional diplomat briefed by Iran remarked that Tehran insists on its right to enrich uranium during talks with US, and believes US negotiators seemed to understand Iran’s stance on enrichment. Meanwhile, on the parties present, Axios sources noted Trump’s advisers Witkoff and Kushner met directly with Iran’s foreign minister Abbas Araghchi in Oman. Note, this saw energy come off highs. For the record, the weekly Baker Hughes rig count saw oil rigs rise by 1 to 412, natgas lift 5 to 130, leaving the total up 5 at 551.
EQUITIES
CLOSES: SPX +1.90% at 6,927, NDX +2.15% at 25,076, DJI +2.52% at 50,140, RUT +3.53% at 2,669
SECTORS: Technology +4.13%, Industrials +2.86%, Energy +1.88%, Real Estate +1.84%, Materials +1.80%, Financials +1.79%, Health +1.78%, Consumer Staples +1.34%, Utilities +0.54%, Consumer Discretionary -0.64%, Communication Services -1.49%.
EUROPEAN CLOSES: Euro Stoxx 50 +1.20% at 5,997, Dax 40 +0.93% at 24,720, FTSE 100 +0.59% at 10,370, CAC 40 +0.43% at 8,274, FTSE MIB +0.13% at 45,877, IBEX 35 +1.11% at 17,943, PSI +1.27% at 8,890, SMI +0.34% at 13,512, AEX +1.04% at 995.
EARNINGS:
- Amazon (AMZN): Profit missed and alarmed investors by forecasting a sharply higher CapEx driven by aggressive investment in AI infrastructure. For a full Newsquawk sell-side piece, please click here.
- Bloom Energy (BE): EPS and revenue beat with strong FY outlook.
- Coty (COTY): EPS light, withdrew FY26 guidance and warned of a weaker-than-expected next quarter, citing a leadership transition and challenging beauty market backdrop.
- Doximity (DOCS): Adj. EBITDA light alongside weak next and FY revenue view.
- Fortinet (FTNT): Strong Q4 metrics with solid FY and next quarter revenue view.
- Molina Healthcare (MOH): Dismal FY outlook and will exit MAPD product for 2027; weighed on other healthcare names.
- Reddit (RDDT): Top and bottom-line surpassed Wall St. consensus.
- Roblox (RBLX): Revenue topped with strong guidance.
- Under Armour (UAA): Surprise profit per share, revenue beat accompanied by solid FY EPS outlook.
STOCK SPECIFICS:
- Apple (AAPL) is scaling back plans for an AI-based virtual health coach.
- GE Aerospace (GE) raised quarterly dividend c. 30% to USD 0.47/shr (prev. 0.36).
- Stellantis (STLA): Will take a EUR 22.2bln charge as part of a business reset.
- Williams Companies (WMB) is said to explore potential natural gas agreements for data centres, according to reports.
- DoJ investigating in merge probe whether Netflix (NFLX) has engaged in anticompetitive tactics, according to WSJ. Also of note for Warner Bros (WBD) and Paramount Skydance (PSKY).
- H&F reportedly in talks for a buyout of Bill Holdings (BILL), according to Bloomberg.
- US FDA Commissioner Makary recently said the FDA will be taking action against Cos. producing “illegal copycat drugs”. Of note for Hims & Hers Health (HIMS).
- US President Trump’s admin is reportedly exploring opening an antitrust probe into homebuilders, according to reports. Of note for Toll Brothers (TOL), Lennar (LEN), KB Home (KBH), and D.R. Horton (DHI).
FX
The Dollar was weaker on Friday amid broader risk-on sentiment, as US equities, and in particular tech, try to recoup some of the week’s heavy losses. For the Greenback specifically, there wasn’t too much headline-driven newsflow, as Fed speak (Jefferson, Bostic, Daly) added little new and as traders await the delayed US payrolls report next Wednesday. We did get prelim UoM for February, which saw sentiment and conditions rise and top analyst forecasts, although expectations did fall marginally short. 1yr ahead inflation expectations tumbled to 3.5% from 4.0%, while the longer-term 5-10yr ticked higher to 3.4% from 3.3%.
G10 FX was more-or-less firmer across the board and benefitted from the selling in the Dollar, although the Yen, flat, underperformed given the risk tone and ahead of the Japanese election on Sunday. Sentiment was also weighed by weak Japanese Household Spending data overnight, while BoJ’s Masu reiterated the Bank would raise rates if economic and price conditions align with its outlook. USD/JPY traded between 156.51-157.15.
As expected in risk-on trade, Antipodeans, Pound and the Loonie, saw outperformance, with the Aussie and Kiwi clear gainers as they were also supported by gains in precious metals. AUD/USD hit a peak of 0.7025 and NZD/USD of 0.6027. As mentioned, GBP firmed to see Cable hit a peak of 1.3624, although sentiment around the Pound remains cautious as calls continue to intensify for PM Starmer to resign following mounting political pressure.
USD/CAD saw a knee-jerk lower to a trough of 1.3624 following the Canadian jobs report, whereby Employment in January fell 24.8k (exp. 7k, prev. 8.2k), alongside the unemployment rate tumbling to 6.5% (exp. 6.8%, prev. 6.8%.). Although the headline missed, the jobs lost were due to part-time workers, with full-time employment rising in January.
In Europe, there was a slew of ECB commentary following the non-event ECB on Thursday, which had little market impact, while the Survey of Professional Forecasters showed inflation expectations largely unchanged and only a slight 2026 GDP upgrade. SEK saw weakness after Swedish CPIF Y/Y Prelim for January rose 2%, shy of the expected, and previous, 2.1%.
In EMFX, overnight, the RBI kept rates unchanged at 5.25%, as expected, via a unanimous decision, and also voted to maintain its policy stance. RBI stated that the current policy rate is appropriate, and underlying inflation remains low, while the Indian economy is on a steady and improving trajectory, but noted that external headwinds intensified since the last meeting.
USA DATA RELEASES
Democrats Abandon Tariff-Flation Narrative Sending UMich Sentiment To 6-Month Highs
Friday, Feb 06, 2026 – 10:10 AM
After January’s big bounce from record lows (as Democrats began to see that the world is not the worst its ever been… and inflation is not going to explode), UMich sentiment was expected to re-dip again in February led by a drop in Current Conditions.
But February’s preliminary data showed a continued rebound in sentiment (which is quite shocking given that it comes after the Davos/Greenland debacle) with a surge in Current Conditions dominating a small dip in Expectations to bring the headline sentiment to its highest since August 2025…
Source: Bloomberg
“Sentiment surged for consumers with the largest stock portfolios,” said Director of Surveys, Joanne Hsu’s, “while it stagnated and remained at dismal levels for consumers without stock holdings.”
On net, modest increases in current personal finances and buying conditions for durables were offset by a small decline in long-run business conditions.
Inflation expectations for the next 12 months plummeted to 13-month lows (while medium term expectations rose modestly)…
Source: Bloomberg
…as Democrats and Independents come to their senses…
Source: Bloomberg
It appears mainstream media propaganda about Trump’s tariffs worked on some… (is this where the term ‘useful idiots’ comes from?)
But, according to Democrats’ prior panic, inflation is about to go vertical right about now…
…we wait with bated breadth.
Of course, UMich’s reliability has been in question for a while now…
Finally, if you had any doubt that this survey was utterly biased, here is Hsu’s concluding comment:
“While sentiment is currently the highest since August 2025, recent monthly increases have been small – well under the margin of error – and the overall level of sentiment remains very low from a historical perspective.”
Translated: don’t believe this drop in inflation fears (to 13 month lows) and rise in sentiment (to 6 month highs)… Trump’s still OrangeManBad, remember!!
END
Homebuilders Tumble On Report White House May Launch Antitrust Probe Into House Affordability
Friday, Feb 06, 2026 – 12:43 PM
Homebuilder stocks are tumbling after Bloomberg reported that Trump administration officials are exploring opening an antitrust investigation into US homebuilders as the White House focuses on tackling the country’s housing affordability crisis.
The Department of Justice could open the probe in the coming weeks Bloomberg reported, quoting people familiar with the discussions. It adds that so far no decision has been made and the administration may abandon the effort without launching an investigation.
One potential focus is on how information is shared through an industry trade group called Leading Builders of America, according to the people. Officials have grown concerned that the trade group – whose members include Lennar and DR Horton – could be used to restrict housing supply or coordinate pricing.
The administration’s interest in homebuilders comes during a period where the cost of buying a home is at its most expensive in decades, with the Covid-era housing boom and subsequent interest rate hikes weighing heavily on buyers. It’s also a precarious time for the builders themselves, with the inventory of unsold homes hovering at high levels.
President Donald Trump put the industry on alert in October, when he used a social media post to compare big homebuilders to OPEC, a cartel which control the oil market.
“It wasn’t right for them to do that but, in a different form, is being done again — This time by the Big Homebuilders of our Nation,” Trump wrote. “They’re my friends, and they’re very important to the SUCCESS of our Country, but now, they can get Financing, and they have to start building Homes.”
Builders have been seeking ways to work with the White House to improve housing affordability. One option being discussed is a massive program — dubbed “Trump Homes” — that would seek to add as many as 1 million units of new supply, Bloomberg previously reported.
Ironically, just a few days ago, we reported that the White House is working with some of the the same homebuilders (Lennar and Taylor Morrison) which Trump is now supposedly going after criminally, as the president is working on a massive rent-to-own program to build up to 1 million “Trump Homes” in a boost to affordability. As part of the program, and which would sell entry-level homes to Americans as part of a pathway-to-ownership program funded by private investors. The drawback of this program, we said, is that such a program would be complicated to implement, and may not gain enough support to move forward as it would require substantial capital commitment from the homebuilders.
Well, what better way to convince homebuilders it’s in their best interest to participate in the program than to threaten them with criminal charges on something totally separate…
END
USA ECONOMIC REPORTS
FBI, CIA Apprehend Key Suspect In 2012 Benghazi Attack, Bondi Vows To Hunt Down Others
Friday, Feb 06, 2026 – 11:40 AM
Many mysteries still surround the 2012 attack on the American consulate and nearby CIA outpost in Benghazi, Libya which led to the deaths of four Americans, including US Ambassador to Libya Christopher Stevens.
On Friday, the Trump administration heralded a major break in one of the worst terror attacks on a US diplomatic compound in history. Attorney General Pam Bondi announced in a press conference the arrest of a culprit allegedly behind the attack. Zubayar al-Bakoush has already been extradited to the United States, landing at Andrews Air Forces base, and is facing murder, arson and terrorism related charges.
“The FBI has arrested one of the key participants behind the Benghazi attack. Zubayar al-Bakoush landed at Andrews Air Force Base at 3 a.m. this morning. He is in our custody,” Bondi said at a news conference.
She disclosed that the CIA and FBI coordinated to apprehend the suspected terrorist. No details of how he was nabbed have been offered, other than he was apprehended “overseas.”
“Zubayr Al-Bakoush will now face American justice on American soil. We will prosecute this alleged terrorist to the fullest extent of the law,” Bondi said
The US says it is committed to hunting down others behind the large-scale attack, known as America’s other 9/11, given it occurred September 11, 2012. Three others – Sean Smith, Tyrone Woods, and Glen Doherty – were killed trying to defend against the assault.
“Let me be very clear — there are more of them out there,” US Attorney Jeanine Pirro said alongside Pondi and the FBI’s Patel. “Time will not stop us from going after these predators, no matter how long it takes, in order to fulfill our obligation to those families who suffered horrific pain at the hands of these violent terrorists.”
The truth about Libya is that some of the Islamist ‘rebels’ the US funded to overthrow Gaddafi later bit the hand that fed them. These for a time were “America’s jihadists”…
This is actually the second arrest connected o the Benghazi attack, after back in 2020 Libyan national Mustafa al-Imam was sentenced to more than 19 years in prison for his crimes.
National security officials have long identified that Al-Qaeda-aligned Salafi Jihadist militia group Ansar al-Sharia was behind it.
In the wake of the disaster, several Congressional investigations and hearings saw Republicans clash with then-Secretary of State Hillary Clinton ahead of her 2016 presidential run as a Democrat.
However, the bipartisan political outrage was always somewhat of a limited hangout, concealing some of the deeper disturbing aspects to the Benghazi attack. For example, the US government and CIA at the time of the attack were engaged in a covert gun-running operation out of Libya, to support anti-Assad jihadists in Syria, declassified intelligence records show.
AMAZON…
Amazon Plunges After Forecasting 50% Surge In Capex To $200BN
Thursday, Feb 05, 2026 – 04:50 PM
In our AMZN earnings preview, we said that the price reaction from META and GOOGL “leaves Amazon in a precarious place as it prepares to report earnings after the close today: does it project some berserk number or does it risk being conservative? After all, the only thing that will matter is the capex forecast (the earnings will likely be good enough).”
Well, we were wrong: the earnings were not good enough: the company missed on earnings and its guidance was rather week. And so before we even get to the biggest shock of the report – the company’s CapEx guidance – here is what the company reported for Q4:
- EPS $1.95, missing estimates of $1.96… an ugly miss at the very top.
Revenue was a bit better, and even though several items (physical stores, third party sellers missed), AWS was stronger than expected.
- Net sales $213.39 billion, beating estimate $211.49 billion
- Online stores net sales $82.99 billion, beating estimate $82.3 billion
- Physical Stores net sales $5.86 billion, missing estimate $5.88 billion
- Third-Party Seller Services net sales $52.82 billion, missing estimate $53.16 billion, net sales excluding F/X +10%, estimate +11.2%
- Subscription Services net sales $13.12 billion, beating estimate $12.74 billion, net sales excluding F/X +12%, estimate +10.4%
The good news is that the most important revenue item, AWS, beat:
- AWS net sales $35.58 billion, beating estimate $34.88 billion; net sales excluding F/X +24%, estimate +21%
This was an impressive number as the 24% YoY increase in AWS revenue not only smashed estimates, but was the highest in three years: remarkable growth for a business that keeps growing and has a more difficult base effect to “beat” every quarter.
Geographically the results were disappointing with North America missing, offset by strength in International
- North America net sales $127.08 billion, missing estimates of $127.21 billion
- International net sales $50.72 billion, beating estimates of $49.74 billion
Going down the line:
- Operating income $24.98 billion, beating estimate of $24.82 billion; this included charges of $1.1 BN
- Operating margin 11.7%, in line with the estimate of 11.7%
- North America operating margin +9%, beating estimate +8.51%
- International operating margin 2.1%, missing estimate 4.27%
- Fulfillment expense $30.83 billion, below estimate $31.42 billion
In its release, the company said that demand was strong for AI, Chips, Robotics, and all other Existing Offerings.
While AWS sales growth was solid, just as impressive was the the margin for the segment also increased from 34.64% in Q3 to 35.03%, just beating the median Wall Street estimate of 35%. Elsewhere, North American profit unexpectedly jumped to $11.472 billion, resulting in a profit margin of 9.03%, beating estimates of 8.51%, while international margins dropped to to 2.05% from 2.93%, missing estimates of an increase to 4.27%.
As a result of the drop in AWS profits, Amazon’s consolidated operating margin posted a notable jump and in Q4 increased 9.7% to 11.7%, just shy of an all time high.
However, while the above data was ok, it was the company’s guidance that led to an immediate collapse in the stock price after hours. No, it wasn’t the revenue, although that did come in a bit weak:
- Net sales are expected to be between $173.5 billion and $178.5 billion, or to grow between 11% and 15% compared with first quarter 2025. The midpoint is a bit weak compared to the median estimate of $175.54 billion.
The projected 13% revenue growth is on the low-end of where the company has been in the past year.
But while revenue guidance was disappointing, if a bit muted, it was the company’s capex guidance – a first for AMZN – that stole the show, because with Wall Street estimates of $146.1 billion in 2026 capex, the company went and reported that it expects to invest about $200 billion in capital expenditures in 2026, a 50% increase from 2025 and an openly ridiculous number, one which is more than a quarter higher than the consensus estimate! Needless to say, there is just not enough grid capacity and electrical power to satisfy the $700BN in CapEx guidance among the Mag7s.
The number was so shocking that even though Wall Street may have been ready to give AMZN the benefit of the doubt for its solid AWS performance and impressive margin bounce, the CapEx guidance was just so gargantuan, there was no way the stock would jump especially after yesterday’s GOOGL debacle. Putting the updated capex numbers in context, the 5 bighyperscalers now expect to spend over $700BN in capex next year. The only problem: there is nowhere near enough electrical capacity to feed all these brand new data centers.
And so AMZN crashed after hours, sliding as much as 11%, and trading around $200. Another $15 drop from here, and the stock will be where it last traded in 2021…
END
NEW YORK CITY
New York City Joins WHO’s Global Outbreak Response Network After US Exit
Thursday, Feb 05, 2026 – 05:00 PM
Authored by Tom Ozimek via The Epoch Times (emphasis ours),
New York City’s health department said on Feb. 4 it has joined the World Health Organization’s (WHO) Global Outbreak Alert and Response Network, becoming the latest Democratic-led jurisdiction to link up with the United Nations-coordinated public health system following President Donald Trump’s decision to withdraw the United States from the WHO.
The move places New York City alongside California and Illinois, whose leaders have said they will participate in the global outbreak network despite the federal government’s formal exit from the WHO last month.
The WHO-coordinated Global Outbreak Alert and Response Network (GOARN) links hundreds of public health institutions worldwide to detect and respond to emerging disease threats.
“By joining GOARN, New York City gains access to a global network of over 360 institutions and organizations that respond to acute public health events with the deployment of staff and resources to affected countries,” the New York City Health Department said in a statement.
“Infectious diseases know no boundaries, and nor should the information and resources that help us protect New Yorkers,” Acting Health Commissioner and Chief Medical Officer Michelle Morse added.
Trump formally pulled the United States out of the WHO on Jan. 22 after completing a one-year withdrawal process triggered by a January 2025 executive order. The order suspended all U.S. funding to the organization and directed the recall of U.S. personnel working with the agency.
The president’s order cited the WHO’s “mishandling of the COVID-19 pandemic that arose out of Wuhan, China, and other global health crises” as reasons behind the U.S. withdrawal. It also singled out the WHO’s failure to adopt reforms and what Trump described as inappropriate political influence by member states as additional reasons for pulling out.
The United States had been the organization’s largest financial contributor, providing roughly $1.28 billion during the 2022–2023 biennium, according to the WHO.
Secretary of State Marco Rubio and Health Secretary Robert Kennedy Jr. said in a joint statement announcing the U.S. withdrawal that the organization had acted against U.S. interests despite Washington’s role as a founding member.
“This action responds to the WHO’s failures during the COVID-19 pandemic and seeks to rectify the harm from those failures inflicted on the American people,” the two officials said. “Promises made, promises kept.”
Democratic-led States Defy WHO Withdrawal
Democratic leaders in several states have criticized the administration’s decision and moved to maintain direct ties with the global health network.
Illinois Gov. JB Pritzker said on Feb. 3 that his state would join GOARN, making Illinois the second state, after California, to do so. Pritzker said Trump’s withdrawal undermined science and weakened the country’s ability to respond to global health threats.
“I refuse to sit idly by and let that happen,” Pritzker said in a statement, adding that GOARN membership would give Illinois access to global early-warning alerts, outbreak intelligence, technical collaboration, and surge support during major public health events.
California Gov. Gavin Newsom announced his state’s participation on Jan. 23, calling the U.S. withdrawal from the WHO “reckless” and saying it would harm Americans. California became the first U.S. state to join the network after the federal exit.
“California will not bear witness to the chaos this decision will bring,“ Newsom said in a statement. ”We will continue to foster partnerships across the globe and remain at the forefront of public health preparedness.”
Newsom announced the collaboration after meeting WHO Director-General Tedros Adhanom Ghebreyesus at the World Economic Forum in Davos, Switzerland, and said he is weighing a 2028 presidential run.
The White House did not respond to a request for comment on New York City’s decision by publication time.
Reuters contributed to this report.
END
Leftists Put Hits Out On Nick Shirley After He Exposed Massive Somali Fraud In Minnesota
Thursday, Feb 05, 2026 – 05:40 PM
Authored by Steve Watson via Modernity.news,
Nick Shirley, the YouTuber who went viral for exposing alleged Somali-run daycare fraud in Minnesota, has revealed that leftists have put out hits on his life.
In a shocking update, Shirley’s security team informed him he was the “number one man” targeted, forcing him to switch hotels amid fears for his and his family’s safety. This comes after his investigative video highlighted millions in taxpayer funds vanishing into ghost daycares with no children in sight.
Shirley detailed the terrifying backlash in a recent appearance, saying people have sent him photos of bodies in ditches with captions like “that’s going to be you” and openly telling him to “k**l yourself.”
“Now I am getting a little more fearful for what’s happening in my life and what’s happening with life in my family, as you’ve seen not only attacks from like the mainstream media, but more so attacks from just people on the internet saying those things about you and your life,” Shirley stated.
He recounted the hotel incident: “Our second day at the hotel they said that we needed to move hotels because it was our word was out as to where we were staying.”
“And we were told by the security that Nick was the number one man, like they had a hit on me and was what they said,” he added. “So it was very frightening, it was very frightening.”
This escalation follows previous threats where Shirley was warned he’d be “Kirked,” a chilling reference to the assassination of Turning Point USA founder Charlie Kirk. As we previously reported, Shirley faced doxxing, family harassment, and physical confrontations after his initial video.
Nick Shirley Says People Telling Him He’ll Be ‘Kirked’ After Viral Somali Fraud Video
“Why are you guys coming after somebody for going against fraud?”
The wider scandal has prompted federal action. Federal agents are probing fraud allegations targeting Somali child care providers in Minnesota, with the Trump administration dispatching officers amid concerns over misappropriated funds exceeding $100 million.
A recent Senate Judiciary Committee hearing titled “Somali Scammers: Fighting Fraud” featured testimony on the investigation, including bizarre misspellings like “Learing Center” that raised red flags.
Shirley has since hired 24/7 security, noting in interviews that his life has changed dramatically. “Your house gets doxxed, people try hacking your social media accounts, people start calling your family members, and you have to go everywhere with 24/7 security,” he told Fox News. He lamented the hatred pouring in despite performing a “giant public service” by exposing the fraud.
On the flip side, Somali child care providers have reported a spike in harassment and vandalism following the viral video, with unions warning of “internet vigilantes.”
Yet Shirley’s work underscores a deeper issue: unchecked immigration and lax oversight allowing billions in taxpayer dollars to fuel fraud under Democrat governance in Minnesota. With Governor Tim Walz’s administration in the crosshairs, this saga highlights the urgent need for America First policies to protect hard-earned money from being siphoned off.
Shirley’s courage in the face of mortal danger exemplifies the fight against corruption. As threats mount, it’s clear the left will stop at nothing to silence those who dare expose their failures. Protecting whistleblowers like him is essential to reclaiming the nation from fraud and chaos.
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
END
KING NEWS
| The King Report February 6, 2026 – Issue 7675 | Independent View of the News |
| Bitcoin and Trump’s presidency (much more below) have hit terminal velocity due to the Epstein Files. Bitcoin plunged to a low of 62,266.70 (-14.26%) on Thursday. ‘Forced deleveraging’ in cryptocurrencies also generated forced liquidation in stocks and commodities. USHs rallied moderately. Silver crashed from 90.4128 at 19:45 ET to 73.5678 (-18.6%) at 21:57 ET. SI hit 72.3367 at 10:47 ET. Spot Gold hit a low of 4791.55 (-3.5%) at 22:00 ET. December JOLTS Job Openings sank to 6.542m from 6.928m (revised from 7.146m), 7.25m expected Initial Jobless Claims 231k, 209k prior, 212k expected Continuing Claims 1.844m, 1.85m expected, prior revised to 1.819m from 1.827m January Challenger Job Cuts 108,435, +117.8% y/y, a 17-year high, prior 35,553 UPS (31,243) and Amazon (16,000) posted the largest number of job cuts. Revelio Public Labor Statistics (RPLS) shows the economy lost approximately 13k jobs in January 2026. The loss was driven by Public Administration, Leisure and Hospitality and Retail Trade. Education and Health, Financial Services and Information show positive employment gains last month… https://www.reveliolabs.com/public-labor-statistics/employment/ Anthropic’s new AI tool sends shudders through software stocks Wall Street is nervous that AI tools like Claude’s new plugins will challenge existing software companies’ data analytics and research products. Companies that use AI to automate and build their own tools might need fewer subscriptions to external research and data services, directly hurting software companies’ bottom lines… https://www.msn.com/en-us/money/smallbusiness/anthropic-s-new-ai-tool-sends-shudders-through-software-stocks/ar-AA1VFz54 ESHs opened modestly higher on Wednesday night and rallied to a daily high of 6935.24 (+29.00) at 20:41 ET. After a retreat to 6888.00 at 23:25 ET, ESHs rallied to 6923.75 at 3:16 ET and traded sideways until they broke down at 7:18 ET. ESHs tumbled to 6831.50 at 9:31 ET. Conditioned and dump buying for the NYSE opening then lifted ESHs to 6881.25 at 9:48 ET. ESHs then sank to a daily low of 6801.50. The rally for the European close developed after the 11:12 ET low. ESHs rallied to 6870.00 at 12:47 ET and then did a 5-wave decline to 6806.00 at 15:52 ET. ESHs rose to 6824.50 at 16:00 ET. Positive aspects of previous session DJUA rallied moderately and USHs rallied 1 4/32 on defensive asset allocation Negative aspects of previous session Stocks and commodities sank on recession angst, which generated defensive asset allocation Silver and Bitcoin plunged. Ambiguous aspects of previous session Who is ‘in trouble’ due to Bitcoin? First Hour/Last Hour NYSE Action [S&P 500 Index]: 1st Hour: Down; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 6812.13 Previous session S&P 500 Index High/Low: 6857.85; 6780.13 China Syndrome: Biolabs in California, Las Vegas raided by FBI tied to indicted Chinese national Jia Bei Zhu was arrested in 2023 on allegations he was running an illegal biological laboratory in Reedley, Calif. On Saturday, the FBI and local police raided a similar biolab in Vegas, arresting the home’s property manager, Ori Salomon (also spelled Solomon)… https://justthenews.com/government/courts-law/biolabs-california-and-vegas-raided-fbi-both-tied-ccp-linked-fugitive-chinese After the close Amazon reported Q4 EPS of 1.95, 1.96 expected, Q4 Net Sales of $213.39B, $211.49B expected. AMZN sees Q1 Net Sales of $173.5B to $178.5B, 175.4B expected. It sees capex of $200B, $146.11B consensus. Amazon plunged 14.5% on the EPS mix and capex monstrosity. Today – Traders want to play for the Friday Rally. But, Thursday night trading is ugly due to AMZN. NQHs were – 410.25 at 19:13 ET but have bounced sharply. The US-Iran talks should impact trading. Other key factors: Bitcoin & silver forced liquidation; the absence of or presence of defensive asset allocation of recession angst. ESHs are -13.25, NQAs are -93.50; USHs are +9/32; SI and AU are moderately higher, even though the COMEX hiked COMEX gold and silver margins to 10% and 18% from 8% and 15%, at 21:30 ET. Expected econ data: Feb UM Sentiment 55, Current Conditions 53.7, Expectations 55.1, 1-yr Inflation 4%, 5-10-yr Inflation 3.3%; Dec Consumer Credit $8.0B; Fed VCEO Jefferson on the economy noon ET S&P Index 50-day MA: 6881; 100-day MA: 6796; 150-day MA: 6659; 200-day MA: 6461 DJIA 50-day MA: 48,523;100-day MA: 47,599; 150-day MA: 46,668; 200-day MA: 45,519 (Green is positive slope; Red is negative slope) S&P 500 Index (6798.40 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5896.83 triggers a sell signal Weekly: Trender is positive; MACD is negative – a close below 6443.43 triggers a sell signal Daily: Trender and MACD are negative – a close above 6981.45 triggers a buy signal Hourly: Trender and MACD are negative – a close above 6846.42 triggers a buy signal In 2020, Tucker Carlson accurately articulated Trump’s singular appear: Flyover America believes he is the only one saving people from ‘The Swamp’ and depraved globalists. @ReallyAmerican1: In a shocking moment, Trump says he wants America to move on from the Epstein files: “I think it’s really time for the country to maybe get on to something else. Now that nothing came out about me other than there was a conspiracy against me literally by Epstein and other people. It think it’s time now for the country to get on to something else, like healthcare, something people care about…” Promises made, promises broken. Zero pedophiles arrested. https://x.com/ReallyAmerican1/status/2018818996855013778 The slow descent of the Trump Presidency accelerated into a plunge due to a disastrous NBC interview. Trump abandons his campaign pledge for mass deportations and will only deport criminals – and will only operate in cities where mayors and governors want ICE to help.Defended Bill Clinton and professed his affection for him because Slicky Willie ‘gets him.’ @disclosetv: Trump says he is adjusting his mass deportations policy to only go into cities if the mayors or governors “ask” and “say please,” adding, “I don’t want to go and force ourselves into a city, even if their numbers are terrible.” https://x.com/disclosetv/status/2019203189221065004 Reporter: “Is your mission now to deport everyone who came in illegally?” Trump: “We are totally focused on criminals, really bad criminals. Now you could say people that came in illegally are criminals, but I’m talking about murderers from different countries.” https://x.com/disclosetv/status/2019204606048227832 @AFpost: President Trump says he’s upset that Republicans are pushing for Bill Clinton to testify on his involvement with Jeffrey Epstein. “It bothers me that somebody is going after Bill Clinton. See, I like Bill Clinton. I still like Bill Clinton … I like his behavior toward me. I thought he got me. He understood me.” https://t.co/Rr7Dy5LloH @GenghisMFKhan: Trump gets asked how he feels about all the young women abused by Epstein and his friends. His response? He abuses the young woman who asks the question. This tells you all you need to know about this man and his pedo protection racket. https://t.co/SUALurZm8y @DavidGiglioCA: Trump says those on the Epstein List, who gleefully talk about raping children & killing people, should face public embarrassment as punishment. Here’s a better idea: prosecute them to the fullest extent of the law. Money & status shouldn’t dictate who is & isn’t above the law. GOP Rep Marjorie Taylor Greene: MAGA, I think people are realizing, was all a lie. What MAGA is really serving is their big donors. Those are the people that get the special favors, they get the government contracts, they get the pardons. @ImBreckWorsham: Y’all protested Cracker Barrel for changing its f***ing LOGO but I’ve not seen one singe protest against your government for protecting SATANIC PEDOPHILES who we now have PROOF rape, torture and murder children. Social media teems with ex-DJT supporters eviscerating him and his betrayals. @ImGinnyRobinson: The way Trump never even addresses how evil the Epstein files are. He has no emotional reaction to the horrors listed in them. It’s totally psychotic. How do people who still support Trump justify doing so? I’m interested in the psychology behind this phenomenon. (Cult behavior; few can admit that they are wrong on him) Trisha Hope – National Delegate-TX (@JustTheTweets17): I don’t see how anyone who voted for him can accept the betrayal, I know I cannot. @DavidGiglioCA: The Trump Admin said their solution to America’s housing crisis was to carry out the largest deportation in US history to free up inventory & drive down prices. Now that Trump is “softening” on immigration, what’s the new plan? Overpriced cookie-cutter “Trump Homes?” PASS. @wendyp4545: President Trump is going to sign the bill that funds abortion, DEI and Trans Hospitals plus billions in earmarks going against his campaign promises to end DEI and Trans Surgeries. https://twitter.com/wendyp4545/status/2018426641144271196?s=02 @richardgalaxia: Do you think the hardcore MAGA Trump supporters will ever understand or accept that Trump is a leftist pretending to be a “Republican?” How has your life improved since Trump won? Be honest with yourself. Trump is continuation of the Deep State with a different PR team. @EmeraldRobinson: Trump voters: “Arrest the pedophiles!” Trump: “I just endorsed Lindsey Graham!” Trump voters: “Arrest the pedophiles!” Trump: “I’ve got my own street in Palm Beach!” Trump voters: “Arrest the pedophiles!” Trump: “Check out my wife’s new movie!” @ramzpaul: We chose to overlook Trump’s lack of character (his philandering, lack of loyalty to his supporters, narcissism, vulgarity) because he gave us hope he would put America first. But men of weak character always fold under pressure. And that is what we are seeing with Trump. Character does matter. People wonder if DJT’s Deputy AG Todd Blanche was directed to announce that no one in the Epstein Files will be charged despite the voluminous evidence and heinous nature of the crimes. Mark Mitchell, Rasmussen Reports (@honestpollster): Trump -16, 41% approval coming today. Prior low before this week was -12. Trump defends the housing bubble, move the goal posts on deportation, and defends Bill Clinton… And he posts his lowest approval since December 2017. Ooof, Trump 18-29 year old approval was down to 33% last week. Brutal. Wonder if it was the housing price statemement? 2-to-1, Zoomers think the vax killed a significant number of people. These people aren’t just going to “re learn” institutional trust… They’re going to brutally restore it themselves. I’ve been warning Trump was off track for months and I got attacked. Now he’s at 41% approval. Not many US likely voters think this is the Golden Age of America. The last time Trump approval was this low was because of the Russian Collusion Hoax. Now it’s all self-inflicted @DavidGiglioCA: Trump endorsed Clay Fuller for GA-14 Special over Colton Moore who got arrested going to bat for Trump. What a complete and total joke. @Megatron_ron: In 2009, an email to FBI Director Mueller described Epstein’s Zorro Ranch was send The Epstein Zorro Ranch was a place where child victims of human trafficking were sent before being transferred to the East Coast However, he was not arrested for trafficking until 10 later… https://t.co/cULjdAndKs Many people realize that Epstein was the ‘Big Boss,’ ‘The Big Kahuna,’ or the ‘Capo di Tutti Capi’ – and he isn’t the only person on Earth engaged in such evil. @LibertyLockPod: It’s insane that Howard Lutnick hasn’t been fired. Our current commerce secretary was caught red handed, lying that he had broken off relations with Epstein only to take ‘his kids’ to the island a full decade later. This whole administration is filthy. Social media is littered with rumors/leaks that high US officials are ‘freaking out’ because Poland, Lithuania, France, and the UK are launching investigations into officials tied to Epstein. Even if Team Bondi-Trump try to spike the Epstein mess and NOT release other, supposedly more incriminating files, European countries will perform the Herculean task. Hillary Clinton, sensing that Trump and others are terrified, taunted GOP politicians by calling for her Epstein File testimony, later this month, to be public. “Who knows what evil lurks in the hearts of the DC politicians?” Hillary does! Defiant Hillary Clinton dares Republicans to hold Epstein showdown in public: ‘Cameras on’ https://t.co/KMxmueHnuP The Clintons have escaped investigations and justice for years, including Bill’s Impeachment Trial, by threatening to expose the venality of other elites. @TheSCIF: One name you never hear who is one of the most powerful women in D.C. is Tamera Luzzatto. Tamera Luzzatto is the Former Chief of Staff to Senator Hillary Clinton and a huge player… https://x.com/TheSCIF/status/2019419954894762427 @HalfwayPost: Pam Bondi is reportedly freaking out because the Epstein investigations just launched by the UK, France, Poland, and Lithuania will soon reveal many of the psychopath criminals and horrific crimes she sold her soul to cover up. @FinanceLancelot: So it turns out the 9/11 insider trading “conspiracy” is true. 96% of the put volume shorting $UAL stock was made by a single investment advisor in America on Sep 6, five days before 9/11. I wonder if that was Epstein? Every conspiracy theory back to Pearl Harbor is now open to scrutiny! @EmeraldRobinson: a criminal referral for @SenAdamSchiff was sent to the DOJ by FHFA chief Bill Pulte but was quashed by @DAGToddBlanche – per DOJ sources. Trump Administration sources tell me that Trump “special advisor” Boris Epshteyn picked @DAGToddBlanche to work on Trump Team initially and made sure he got the #2 job at DOJ. NYT: How the Supreme Court Secretly Made Itself Even More Secretive Amid calls to increase transparency and revelations about the court’s inner workings, the chief justice imposed nondisclosure agreements on clerks and employees. @PatrickByrne: Methinks they know that sometime this year they will face the biggest case since Dred Scott. Because enough evidence of foreign involvement in our elections justifies 47 to declare a national emergency. Will they second-guess such an order? GOP congressman delivers mic drop response to liberal ICE agenda “They want ICE to be able to show IDs,” Fine said… “I presume that means they want voters to be able to show IDs when they go vote. They say they don’t want people to wear masks anymore? Well, I would assume that includes the Muslim terrorist protesters that we see all over our country who hide their faces. “I mean, they want everyone to be able to identify themselves? I assume that means the protesters should have to say who’s paying them when they’re out protesting… Look, Democrats aren’t smart. If they were, they wouldn’t be Democrats…. these demands are ridiculous, particularly when you look at the logical fallacy that they only want to apply them in certain situations.”… Number one, they can’t win elections without illegals voting. Number two, they’ll lose so many seats in Congress because Americans are leaving these blue states because they’re sick of the craziness, and they’re moving to places like Florida and number three, they need the grift from all the welfare scams that these illegal immigrants are involved in to fund all the other nefarious activities they’re involved in… https://justthenews.com/government/congress/gop-congressman-delivers-mic-drop-response-liberal-ice-agenda GOP senator excoriates NY Times for bad reporting on Arctic Frost, IDs reporters by name Grassley said the series of reports, which were done by New York Times reporters Glenn Thrush, Alan Feuer and Adam Goldman, date back to 2023… https://justthenews.com/government/congress/gop-senator-escoriates-ny-times-bad-reporting-arctic-frost-ids-reporters-name Fox: @FoxNews: Sen. Marsha Blackburn is urging Chief Justice Roberts to launch an investigation into Justice Ketanji Brown Jackson over her attendance at the Grammy Awards, where celebs voiced anti-ICE rhetoric throughout the show. | |
SWAMP STORIES FOR YOU TONIGHT
Ilhan Omar’s Winery Exposed As Fake Shell For Alleged Money Laundering
Thursday, Feb 05, 2026 – 09:45 PM
Authored by Steve Watson via Modernity.news,
A damning on-site investigation has revealed that the winery co-owned by Ilhan Omar’s husband is nothing more than a phantom operation, fueling suspicions of fraud amid scrutiny of her skyrocketing wealth.
Angela Rose, the journalist behind the probe, visited the listed address in Santa Rosa, California, only to discover glaring discrepancies that point to a shell company setup.
“I visited the principal address of ESTCRU winery. This winery is co owned by US Rep of Minnesota Ilhan Omar’s husband, Timothy Mynett, yet seems to allegedly be a shell business used to launder funds,” Rose stated in her report.
She detailed the revenue surge: “In 2024 they made about $15,000 and in 2025 it exploded to up to $5 million dollars… yet they weren’t producing any wine.”
Rose highlighted the lack of legitimacy: “No business license exists for ESTRCRU (Ilhan Omar’s Winery) at this address. The other wineries here are properly licensed.”
The address, 1160 Hopper Ave Apt B in Santa Rosa, houses over 40 wineries, but the location owner confirmed ESTCRU isn’t among them. Public records show it’s tied to a foreign processing center with no actual business license for ESTCRU.
This bombshell comes as Omar’s finances face intense federal scrutiny. Her 2024 financial disclosure reported assets between $6 million and $30 million, a massive leap from the $40,000 to $250,000 in 2023. The bulk ties to her husband’s winery and a venture capital firm.
The Justice Department launched an investigation into Omar’s finances, campaign spending, and foreign interactions in June 2024 under the Biden administration. Though it reportedly stalled due to lack of evidence, President Trump has revived the push, vowing to expose any impropriety.
Trump highlighted the probe, noting Omar arrived from Somalia with little and now boasts family wealth up to $30 million, amid broader Minnesota fraud inquiries.
Last week Omar was accused of staging an “attack” at a town hall, where she was sprayed with apple cider vinegar by a man acting strangely, in order to divert attention from her wealth investigations.
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END
Watch: Dr. Oz Unmasks Billions In Hospice Fraud Tied To Foreign Mafias And Welfare Scams
Friday, Feb 06, 2026 – 01:00 PM
Authored by Steve Watson via Modernity.news,
Unchecked immigration policies have opened the floodgates for criminal networks to bleed taxpayers dry, while Democrat governors like Gavin Newsom turn a blind eye to the exploitation of vulnerable Americans.
The Trump administration is finally shining a light on the rampant fraud infesting America’s healthcare system, where foreign criminal elements exploit lax oversight to siphon billions from Medicare and Medicaid.
Dr. Mehmet Oz, head of the Centers for Medicare and Medicaid Services (CMS), has been on the front lines exposing these schemes that harm seniors and drain resources meant for real patients.
Recent reports reveal the backlash from officials, with Newsom filing a civil rights complaint against Dr. Oz, accusing him of baseless and racially charged claims that could deter participation in legitimate programs.
But as Oz’s investigations show, the real scandal is the unchecked abuse that’s ballooned under years of ‘progressive’ mismanagement.
In a stunning revelation, Dr. Oz highlighted the explosive growth in Minnesota’s autism care expenditures, pointing to potential fraud in a state long criticized for its loose immigration and welfare policies.
Oz details how Minnesota spent just $3 million on autism care in 2018, only to see that figure balloon to $400 million by 2024—a staggering 13,233.33% increase in just six years.
The surge raises red flags about welfare abuse, especially in areas with high Somali populations, where similar fraud patterns have emerged in childcare and food programs—classic examples of how globalist policies prioritize outsiders over American families.
Dr. Oz isn’t stopping at one state; he’s calling out the systematic exploitation that’s now infecting Nevada, courtesy of California’s overflow of criminal enterprises.
In a post on X, Oz declared, “Systematic hospice fraud in LA is spreading to Las Vegas. Seniors are harmed. Taxpayers are robbed. We are cracking down.”
This expansion underscores the dangers of sanctuary state policies that shield illegal operations, allowing fraudsters to hop borders and continue bilking the system while real hospice needs go unmet.
Fitness expert Jillian Michaels amplified Oz’s message, stressing the urgent need for safeguards against the loopholes letting criminals run rampant in Democrat strongholds.
The heart of the scandal lies in Los Angeles, where Oz uncovered a web of fake hospices operated by foreign mafia groups, exploiting America’s generosity to the tune of billions.
As Mario Nawfal’s X post above notes, “On the ground in Van Nuys, Los Angeles: in a single four-block radius, there are 42 hospices, many with Cyrillic signage, boarded up windows, and no visible patients or staff. Fraudsters set up fake hospice addresses, bill Medicare for ‘services’ never provided to patients who often don’t exist or aren’t terminal. One operation stole $16 million; the ringleader served just two years. Estimated $3.5 billion in hospice and home care fraud in Los Angeles alone.”
Dr. Oz explained the mechanics of this taxpayer heist, directly challenging Governor Newsom to step up instead of shielding the status quo.
Oz stated, “The home health care business is being decimated … because so much money is getting sucked to Los Angeles … Gov. Newsom, do your job … You know this is a real problem. People are dying. Act that way.”
Under Democrat governance, these schemes flourish through ghost patients and sham companies, diverting billions while the deep state looks the other way—until the Trump team forces accountability. By rooting out these mafia-driven scams, the administration is reclaiming billions for genuine care.
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
GREG HUNTER
SEE YOU ON MONDAY
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