One of the more interesting moves to me this week was USDCAD
06.03.2026 22:52
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One of the more interesting moves to me this week was USDCAD
My sources tell me affordability did not improve this week
At least as thought provoking as Mike's viral poverty line piece | important work to deeply consider
Remember that time Citrini moved the market more than a regional war in the Middle East that closed the Strait of Hormuz
Dogwifhat is outperforming oil
Tempestuous Tehran | Short on Answers, We Focus on Questions
https://t.ly/ZcWNm
Germany on the March | Too Soon?
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www.wsj.com/economy/...
At one point in January - the oil price was down 24% YoY - it is now only down about 5%
Inflation is higher than when the Fed started cutting. It was not crazy to cut given how the labor market was looking shaky - but now it is stabilizing.
Despite this we still have 68bps of cuts priced into the curve
I keep using the Chesterton's Fence reference with this - the US chained Germany to the military kid's table for a reason we apparently forgot - it is at a minimum far from riskless
Checkers Not 4D Chess | There is no Master Plan
https://t.ly/fvG5L
Initiating Coverage of the E6 | A Turbo Button for Europe or Just a Zoom Club?
https://t.ly/7phaG
The good news is - sentiment and positioning are getting better this week
Things you do not see every day
Backwoods Investing | Timber at a cyclical trough?
https://t.ly/LKWYZ
Naturally the most GLD & SLV calls ever bought in history were right before today
De-risking Commodities | Portfolio Changes to Reduce Metals Exposure
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Always a great show but the analysis/bias conversation is incredible valuable.
Value Creation > Value Extraction
The future runs on electricity and only one country seems to understand that
Powell's view here seems to be policy consensus but it seems to me it *may* ignore the temporal flow of inventories as outlined by Andy Jassy a week ago
