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I Was Very Angry
Wed, Dec 31, 2025
Russia accused Ukraine of launching 91 drones at Vladimir Putin's residence in Novgorod on Sunday night. The Kremlin provided no evidence. The Institute for the Study of War found no corroborating footage. Ukraine called it "a complete fabrication."
Trump said Putin told him about the attack in a phone call. "I was very angry," he said, before acknowledging it "possibly" didn't happen. The Kremlin says it will "toughen its negotiating position." This came two days after Zelenskyy met Trump at Mar-a-Lago and both sides claimed progress.
Overnight, Russian drones struck residential buildings in Odesa, leaving parts of the city without heat or power. That attack required no fabrication.
The Fed's December meeting minutes released on Tuesday confirmed what the 9-3 vote suggested: the central bank is at war with itself. It was the most fractured decision since 2019. Even among the nine who voted yes, a few said the decision was "finely balanced." Several worried that cutting could be "misinterpreted" as going soft on inflation.
The divisions will deepen in 2026 as hawks rotate into voting seats. Powell's chair term expires in May. Trump said he'll name a successor in January. Kevin Hassett is the favorite. The president has made clear he wants rates at 1 percent or lower, inflation be damned.
The S&P 500 fell 0.14 percent Tuesday to 6,896.24 – still up 17 percent for the year, a third straight year of double-digit returns. The dollar is down nearly 10 percent for 2025, its steepest decline since 2017. The weak greenback supercharged commodities all year.
Meta acquired Manus for more than $2 billion. The deal closed in ten days. Manus builds AI agents that screen resumes, plan trips, and analyze portfolios, with $100 million ARR eight months after launch. The wrinkle: Manus was founded in Beijing before relocating to Singapore. Meta says there will be "no continuing Chinese ownership."
The year ends with equities at highs and the dollar at lows. Gold beat Bitcoin. Oil collapsed while silver doubled. The Fed is dividing, The Kremlin is distracting, and the CME is raising margins on anything that moves.
In New York, skies are cloudy on the last trading day of the year.
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By The Hold ReportWed, Dec 31, 2025
Russia accused Ukraine of launching 91 drones at Vladimir Putin's residence in Novgorod on Sunday night. The Kremlin provided no evidence. The Institute for the Study of War found no corroborating footage. Ukraine called it "a complete fabrication."
Trump said Putin told him about the attack in a phone call. "I was very angry," he said, before acknowledging it "possibly" didn't happen. The Kremlin says it will "toughen its negotiating position." This came two days after Zelenskyy met Trump at Mar-a-Lago and both sides claimed progress.
Overnight, Russian drones struck residential buildings in Odesa, leaving parts of the city without heat or power. That attack required no fabrication.
The Fed's December meeting minutes released on Tuesday confirmed what the 9-3 vote suggested: the central bank is at war with itself. It was the most fractured decision since 2019. Even among the nine who voted yes, a few said the decision was "finely balanced." Several worried that cutting could be "misinterpreted" as going soft on inflation.
The divisions will deepen in 2026 as hawks rotate into voting seats. Powell's chair term expires in May. Trump said he'll name a successor in January. Kevin Hassett is the favorite. The president has made clear he wants rates at 1 percent or lower, inflation be damned.
The S&P 500 fell 0.14 percent Tuesday to 6,896.24 – still up 17 percent for the year, a third straight year of double-digit returns. The dollar is down nearly 10 percent for 2025, its steepest decline since 2017. The weak greenback supercharged commodities all year.
Meta acquired Manus for more than $2 billion. The deal closed in ten days. Manus builds AI agents that screen resumes, plan trips, and analyze portfolios, with $100 million ARR eight months after launch. The wrinkle: Manus was founded in Beijing before relocating to Singapore. Meta says there will be "no continuing Chinese ownership."
The year ends with equities at highs and the dollar at lows. Gold beat Bitcoin. Oil collapsed while silver doubled. The Fed is dividing, The Kremlin is distracting, and the CME is raising margins on anything that moves.
In New York, skies are cloudy on the last trading day of the year.