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Bretton Woods Three is a Process, Not an Event

Today:

* Show and Tell in Silver

* Premium: How to Value Gold at bottom

Yesterday’s Activity:

US equities retreated on Tuesday amid concerns about rising oil prices and bond yields.

Market Commentary:

Silver Show and Tell

Why short SLV

* Bearish

* Arb of Another Venue

* Hedging SLV Option length

* Taking delivery of physical (and/or unwinding a hedge)

* what’s the reason, what’s the risk, whats the back end trade

* how would a player prepare the ground for something like that to make sure noone gets in the way.. and to get good levels?

* 2011 background: Spread trading

Price Action

* Gold-

* Silver- financial short squeeze

* Miners-

* Oil-

* BTC/ETH-

* Stocks-

* Bonds-

* Dollar-

Market News:

* "Cleveland Fed President Loretta Mester said Tuesday she still expects interest rate cuts this year but ruled out the next policy meeting in May. Source: CNBC

* Amazon’s grab-and-go checkout system, Just Walk Out, has been a centerpiece of its ambitions to transform bricks-and-mortar supermarkets.- bodega decentralization, mercantilism, big box death, complexity collapse, and small self sustenance, 15 minute cities

* "Oil prices settled higher on Tuesday after a session in which Ukrainian attacks on Russian energy facilities and escalating conflict in the Middle East pushed the Brent benchmark above $89 a barrel for the first time since October. Source: Reuters

* "German inflation fell to its lowest level since May 2021, Source: WSJ

* Top MSM News Links

GEOPOLITICS

* US President Biden criticized Israel for failing to adequately protect civilians and is pushing for an immediate ceasefire as part of a hostage deal,  according to Bloomberg and AFP.

* Ukraine bombings are making things difficult for Biden. Zelensky is making play for continued aid.. playing chicken with Biden

* Deep divisions between the US and Israel over an operation in Rafah were evident in a virtual meeting between senior officials.

* NATO Foreign Ministers will meet on Wednesday to discuss how to put military support for Ukraine on long-term footing including a proposal for a EUR 100bln five-year military fund, according to Reuters.

Some headlines via NewSquawk or DataTrek

Data on Deck:

* MONDAY, APRIL 1 9:45 am S&P U.S. manufacturing PMI

* TUESDAY, APRIL 2 10:00 am Factory orders Feb, speakers

* WEDNESDAY, APRIL 3 10:00 am ISM services March 52.6% 52.6% 12:00 pm, speakers

* THURSDAY, APRIL 4 8:30 am Initial jobless claims March , speakers

* FRIDAY, APRIL 5 8:30 am U.S. nonfarm payrolls am U.S. unemployment rate

Premium: