You like curling now Ian

Busy day?

Donald Trump has added a political risk premium to US assets [FREE TO READ] Parking money in America is no longer the routine, fuss-free, neutral option

Investors are asking questions about whether they can trust the US that would have been *ridiculous* a few months ago. IDK how/whether Uncle Sam can get the trust back.
Me on a bonkers/terrifying few days in markets and what it all means: on.ft.com/4ct5Qnv

(First 300 clicks free)

Is this the Mar-a-Lago Accord?

S&P 500 on course to break four-week losing streak Stocks rebound from early declines despite weak corporate earnings

www.ft.com/content/0fa3... 😬

FTSE 100 hits record high ahead of expected interest rate cut Gilt yields fall and stocks rise as Bank of England prepares to announce first decision of 2025

We're live-blogging the BoE, including the latest on gilts' recovery rally
www.ft.com/content/2d2a...

Rush to stockpile gold in New York leads to London shortage Wait to withdraw bullion from BoE rises sharply as fears of Trump tariffs drive shipments to US

Traders are shifting so much gold from London to New York that the Bank of England can't keep up with the pace of withdrawals www.ft.com/content/86a5...

I liked this one:

Happy US jobs day
www.ft.com/content/ac55...

Dogecoin is worth more than Glencore, a frog token more than Sainsbury’s www.ft.com/content/66fe...

I'll see what I can do

Chinese bond market grapples with ‘Japanification’ Deflation fuels ‘inexorable’ slide in China’s long-term sovereign bond yields below Japan’s for the first time

yes, but did you know that China is Japan? www.ft.com/content/d299...

French bond yields surpass Greece’s amid budget concerns Investors fear dispute over planned tax rises and spending cuts could topple government

'France is the new Greece' is the new 'Spain is the new Italy' @iankmsmith.bsky.social www.ft.com/content/b7d0...