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Confirmed: Silver and Gold Beat All Since 2019
This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.com
Housekeeping: Good Morning.
BW3 is a process, not an event.
Today:
* Premium: Goldman’s 5 Ds on Commodities, ING on China effect
* Commentary: Silver and Gold are better than almost all other investments
Session Recap:
US equities retreated on Wednesday as Treasury yields increased.
Premium Markets: Goldman’s 5 Ds
We remain selectively bullish commodities and expect commodity total returns to rise from 13% YTD to 18% by year-end.
We see the 5D bull market trends will create structural opportunities in commodities: Disinvestment, Decarbonization & climate change, De-risking (hedging), Datacenters & AI, Defense spending.
Includes refreshed price targets for Gold, Oil, and Copper
Continues at bottom…
Rates of Return and Risk
SemperVigilant1 on Substack
Semper on X/Twitter
Market News: Never Trust Indices
"BHP Group decided against making a firm offer for Anglo American, instead walking away for now from what would have been the biggest mining deal in over a decade. The announcement... marked an abrupt end to the five-week public battle between two of mining’s biggest names." Source: Bloomberg
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $17.1 billion in a bid to catch up with rivals as drillers race to secure new oil and gas wells.. Source: WSJ
"The Cleveland Federal Reserve has appointed Beth Hammack, Goldman Sachs’s former head of global lending, to replace departing president and chief executive Loretta Mester later this year. Source: FT
"Salesforce shares plummeted as much as 17% in extended trading on Wednesday after the cloud software vendor reported weaker-than-expected revenue and issued guidance that trailed Wall Street’s expectations." Source: CNBC
Geopolitics:
* "Israel's army said Hamas is in Rafah and is holding Israeli hostages, so they are launching military operations there and will not stop fighting in Rafah until the hostages are freed.
* Russian Foreign Minister Lavrov said China could arrange a peace conference in which Russia and Ukraine would participate, while he added that Russia regards planned supplies of F-16 fighters to Ukraine as a "signal action" by NATO in a nuclear area, according to RIA.
Some headlines via NewSquawk or DataTrek
Data on Deck: GDP, PCE Week
* MONDAY, MAY 27 Memorial Day
* TUESDAY, MAY 28 speakers and 10:00 am Consumer confidence
* WEDNESDAY, MAY 29 2:00 pm Fed Beige Book
* THURSDAY, MAY 30 8:30 am GDP + +
* FRIDAY, MAY 31 8:30 am PCE index April
Premium:
***DO NOT SHARE THIS***
View all episodes
By VBLThis is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.com
Housekeeping: Good Morning.
BW3 is a process, not an event.
Today:
* Premium: Goldman’s 5 Ds on Commodities, ING on China effect
* Commentary: Silver and Gold are better than almost all other investments
Session Recap:
US equities retreated on Wednesday as Treasury yields increased.
Premium Markets: Goldman’s 5 Ds
We remain selectively bullish commodities and expect commodity total returns to rise from 13% YTD to 18% by year-end.
We see the 5D bull market trends will create structural opportunities in commodities: Disinvestment, Decarbonization & climate change, De-risking (hedging), Datacenters & AI, Defense spending.
Includes refreshed price targets for Gold, Oil, and Copper
Continues at bottom…
Rates of Return and Risk
SemperVigilant1 on Substack
Semper on X/Twitter
Market News: Never Trust Indices
"BHP Group decided against making a firm offer for Anglo American, instead walking away for now from what would have been the biggest mining deal in over a decade. The announcement... marked an abrupt end to the five-week public battle between two of mining’s biggest names." Source: Bloomberg
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $17.1 billion in a bid to catch up with rivals as drillers race to secure new oil and gas wells.. Source: WSJ
"The Cleveland Federal Reserve has appointed Beth Hammack, Goldman Sachs’s former head of global lending, to replace departing president and chief executive Loretta Mester later this year. Source: FT
"Salesforce shares plummeted as much as 17% in extended trading on Wednesday after the cloud software vendor reported weaker-than-expected revenue and issued guidance that trailed Wall Street’s expectations." Source: CNBC
Geopolitics:
* "Israel's army said Hamas is in Rafah and is holding Israeli hostages, so they are launching military operations there and will not stop fighting in Rafah until the hostages are freed.
* Russian Foreign Minister Lavrov said China could arrange a peace conference in which Russia and Ukraine would participate, while he added that Russia regards planned supplies of F-16 fighters to Ukraine as a "signal action" by NATO in a nuclear area, according to RIA.
Some headlines via NewSquawk or DataTrek
Data on Deck: GDP, PCE Week
* MONDAY, MAY 27 Memorial Day
* TUESDAY, MAY 28 speakers and 10:00 am Consumer confidence
* WEDNESDAY, MAY 29 2:00 pm Fed Beige Book
* THURSDAY, MAY 30 8:30 am GDP + +
* FRIDAY, MAY 31 8:30 am PCE index April
Premium:
***DO NOT SHARE THIS***