Secretary of State Marco Rubio said the US may need to reassess its relationship with Nato after the Iran war is finished, calling the military alliance’s alleged lack of support during the Middle East conflict “very disappointing”. Rubio assailed Nato members for denying access to military bases, following prior criticism from US President Donald Trump that partners in the security bloc are “cowa...
Secretary of State Marco Rubio said the US may need to reassess its relationship with Nato after the Iran war is finished, calling the military alliance’s alleged lack of support during the Middle East conflict “very disappointing”. Rubio assailed Nato members for denying access to military bases, following prior criticism from US President Donald Trump that partners in the security bloc are “cowards” and that the alliance is a “paper tiger”. “The president and our country will have to...
In Seoul last week, South Koreans were stripping shop shelves of plastic bin bags. Not food, not medicine. Bin bags. Nearly 2.7 million of the city’s mandatory “pay-as-you-throw” bags were sold each day, almost five times the normal volume, as residents scrambled to stockpile what they feared might soon become scarce. City by-laws mandate that the prepaid bags – made from naphtha, a petroleum deri...
In Seoul last week, South Koreans were stripping shop shelves of plastic bin bags. Not food, not medicine. Bin bags. Nearly 2.7 million of the city’s mandatory “pay-as-you-throw” bags were sold each day, almost five times the normal volume, as residents scrambled to stockpile what they feared might soon become scarce. City by-laws mandate that the prepaid bags – made from naphtha, a petroleum derivative – be used to throw away household waste. But with oil supplies under strain amid the...
Tesla’s modeled fair value price target has been adjusted slightly, moving to about US$421.27 from US$421.61, signaling only a very small shift in the underlying assumptions. Research firms linking their targets to this new figure are weighing upbeat views on autonomy, robotaxis, and energy against more cautious takes on margins, capital needs, and the auto business. As you read on, you will see h...
Tesla’s modeled fair value price target has been adjusted slightly, moving to about US$421.27 from US$421.61, signaling only a very small shift in the underlying assumptions. Research firms linking their targets to this new figure are weighing upbeat views on autonomy, robotaxis, and energy against more cautious takes on margins, capital needs, and the auto business. As you read on, you will see how these small price target moves fit into a broader, fast changing analyst story around Tesla...
India’s central bank has delayed the roll-out of stricter rules on loans to proprietary traders and some liquidity providers, offering relief as markets are roiled by volatility due to the Iran conflict. The rules — which were first announced in February — now take effect on July 1 instead of April 1, the Reserve Bank of India said in a statement Monday. The central bank also eased some conditions...
India’s central bank has delayed the roll-out of stricter rules on loans to proprietary traders and some liquidity providers, offering relief as markets are roiled by volatility due to the Iran conflict. The rules — which were first announced in February — now take effect on July 1 instead of April 1, the Reserve Bank of India said in a statement Monday. The central bank also eased some conditions, allowing funding for proprietary trading against full cash collateral, removing curbs on financing market makers, and broadening acquisition finance to include mergers and amalgamations. The changes signal a more measured approach by the RBI following a review, tempering an earlier attempt to curb speculative activity that raised concerns over trading volumes. The shift suggests the RBI is wary of exacerbating stress in already volatile markets, even as it continues to address risks from the build-up of leverage in the financial system, according to market watchers. “It is good that RBI has delayed implementation of these rules as there is a lot of volatility anyway due to the Iran war,” said Deven Choksey , managing director at DRChoksey FinServ. “This will give some breather to prop traders and other participants, and hopefully help in calming nerves.” The new rules may raise the cost of raising capital for proprietary trading firms and squeeze profits. While Indian banks traditionally do not directly finance proprietary trading, the directive closes a loophole that allowed short-term working capital loans given by banks to be diverted for trading by brokers. The policy follows a series of steps by authorities to curb speculation, including a sharp increase in transaction taxes on single-stock and index derivatives. They add to curbs introduced in late 2024 to cool a boom that had turned India into a global options hub. Regulators see the measures as a necessary trade-off to prevent market losses from spilling into household finances through leverage and unsecured loans...
Stellantis (BIT:STLAM) has halted production at its Toluca, Mexico plant after filing a lawsuit against key supplier ZF Chassis Modules. The dispute concerns parts critical to assembly, raising the risk of supply chain disruption across Stellantis's North American operations. Separately, Stellantis has renewed and expanded a five year partnership with Palantir to roll out wider AI and data tools a...
Stellantis (BIT:STLAM) has halted production at its Toluca, Mexico plant after filing a lawsuit against key supplier ZF Chassis Modules. The dispute concerns parts critical to assembly, raising the risk of supply chain disruption across Stellantis's North American operations. Separately, Stellantis has renewed and expanded a five year partnership with Palantir to roll out wider AI and data tools across the business. Stellantis, the global automaker behind brands such as Jeep, Peugeot and...
pryzmat/iStock via Getty Images Please note: the CoTs report was published 03/27/2026 for the period ending 03/24/2026. “Managed Money” and “Hedge Funds” are used interchangeably. The Commitments of Traders report is a weekly publication that shows the breakdown of ownership in the Futures market. For every contract, there is a long and a short, so the net positioning will always be zero, but the ...
pryzmat/iStock via Getty Images Please note: the CoTs report was published 03/27/2026 for the period ending 03/24/2026. “Managed Money” and “Hedge Funds” are used interchangeably. The Commitments of Traders report is a weekly publication that shows the breakdown of ownership in the Futures market. For every contract, there is a long and a short, so the net positioning will always be zero, but the report shows who is positioned long or short. Historically, Hedge Funds (Managed Money) dominate the price action in both Gold and Silver. Gold Current Trends Below shows net positioning for the 5 main groups of futures holders. Net positioning took a major step down at the end of January, right during the first big sell-off in gold. It is clear that this was the big driver of the move on the last trading day of January. This was speculative money getting washed out. However, the move since the Iran war started was not speculative money. The open interest barely changed in the big price drop. It seems more likely this was actual selling, such as Turkey selling a vast amount of physical gold from reserves. Figure 1: Net Position by Holder Managed Money has been in complete control of the price action for years, driving the spikes in both directions. The overall upward trend is beyond the control of Managed Money but the short-term moves are very much tied to the action of Managed Money. That changed dramatically in 2025 as the Managed Money group has been liquidating positions even as prices have continued rising. Managed Money may have been a driver of the initial sell-off in January, but they have been very quiet since. Again, this implies that the move from the Iran War has not been speculative traders. Figure 2: Managed Money Net Position Weekly Activity In the latest week, there were some liquidations from Managed Money as the gold price finally broke $5,000, but it was very small by any historical standard. This move would not have been enough to bring the gold price f...
tum3123/iStock via Getty Images By Sammy Suzuki, CFA Could heightened uncertainty driven by the Middle East conflict lead to strong return potential? Emerging market (EM) equities have been hit hard since the Iran war began, as investors worry about fallout from the conflict. Yet, history suggests that periods of heightened market stress—when volatility is elevated and uncertainty is still being p...
tum3123/iStock via Getty Images By Sammy Suzuki, CFA Could heightened uncertainty driven by the Middle East conflict lead to strong return potential? Emerging market (EM) equities have been hit hard since the Iran war began, as investors worry about fallout from the conflict. Yet, history suggests that periods of heightened market stress—when volatility is elevated and uncertainty is still being priced—have created favorable entry points for EM investors in the past. Equity markets have traded anxiously as the US-Israeli attacks on Iran escalated into a regional war in March. Iran shut the Strait of Hormuz, through which roughly a fifth of the world’s oil is shipped, raising fears of a sustained energy shock. Concerns that higher oil prices could fuel inflation, curb growth and undermine earnings pushed global equities lower. The MSCI Emerging Markets Index fell by 11% in US-dollar terms in March after a strong run in 2025 and the first two months of 2026. Oil Shock Roils Asian Economies The impact has been most visible across parts of Asia. India, Thailand and the Philippines—which rely heavily on oil transported through the Strait—have taken steps to cushion the blow from higher prices. While some commodity-rich emerging countries such as Brazil may be more insulated from the oil shock, investors fear that EM companies in general look vulnerable to the effects of higher energy costs on growth and profitability. These uncertainties also help explain the broader rise in market volatility. The VIX Index of US equity market volatility, also known as Wall Street’s fear gauge, has climbed as investors grapple with a widening range of geopolitical and macro outcomes. To understand what this historically has meant for EM investors, we examined EM equity market returns following different month-end VIX levels since 2001. VIX and EM Equities: A Surprising Rebound Signal Extreme volatility spikes are rare. Over the past 24 years, the VIX has exceeded 40 at month-end only nin...
So far in 2026, the S&P 500 index (SNPINDEX: ^GSPC) is down roughly 7%, but the ride has felt much worse, as a series of events has hampered market returns. Whether it's the Iran war and the volatile oil prices that followed, persistent tariff and inflation concerns, a weakened consumer in a K-shaped recovery, or the potential for interest rates to rise and further hinder the housing market, there...
So far in 2026, the S&P 500 index (SNPINDEX: ^GSPC) is down roughly 7%, but the ride has felt much worse, as a series of events has hampered market returns. Whether it's the Iran war and the volatile oil prices that followed, persistent tariff and inflation concerns, a weakened consumer in a K-shaped recovery, or the potential for interest rates to rise and further hinder the housing market, there's no shortage of reasons to worry about a possible stock market crash . That said, three historical indicators suggest investors shouldn't panic -- especially long-term investors who are looking to hold stocks for decades. Here are those three indicators and why they combine to give me all the confidence I need to keep adding money to the market every week, even amid the market's current tumult. This historical indicator is the most peculiar of the trio to me, but I find it fascinating (and a confidence booster) nonetheless. LPL Financial found that since 1950, when the S&P 500 delivers positive returns in January, it goes on to post positive returns for the full year 89% of the time. In these years, the index has risen an average of 16.7%. With the S&P 500 rising 1.5% in January this year, history suggests the odds lean in our favor for 2026. Continue reading
Australian Prime Minister Anthony Albanese is calling on President Trump to commit to ending the war in Iran. ANU National Security College’s Rory Medcalf says Canberra's stance reflects the growing concern among Australians about the economic consequences of the war. Medcalf spoke to "Bloomberg: The Asia Trade." (Source: Bloomberg)
Australian Prime Minister Anthony Albanese is calling on President Trump to commit to ending the war in Iran. ANU National Security College’s Rory Medcalf says Canberra's stance reflects the growing concern among Australians about the economic consequences of the war. Medcalf spoke to "Bloomberg: The Asia Trade." (Source: Bloomberg)