Author: Zulfiqar
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Tremors – 5 Things I Am Watching Today
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1. Canada Surprises: Cool Inflation, Hot Housing Canadian CPI came in across the board lower than expected. Headline inflation in February was 1.8% year-over-year. Canadian housing starts also came in…
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Canadian Job Loss – 5 Things I Am Watching Today
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1. Oil Blinks — But Don’t Relax WTI is down about 1.5% this morning, pulling back below $94 after Trump quietly removed sanctions on Russian oil to help ease supply.…
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Oil Shock Gets Worse – 5 Things I Am Watching Today
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1. It’s Beyond The Strait Now WTI crude is past $103 a barrel as I write this — with a trading range today already spanning $96 to $119. The Iran…
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Job Shock & Oil – 5 Things I Am Watching Today
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1. The Jobs Report: Not a Miss, a Reversal The February jobs report dropped this morning and it’s ugly. The U.S. economy shed 92,000 jobs — the forecast was a…
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$100 Oil Soon? 5 Things I Am Watching Today
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1. The Strait of Hormuz: 20% of Global Oil Supply Is Now a Question Mark As I write this, WTI is at $78 and Brent is at $84. The U.S.-Israel-Iran…
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War, Deals & Bonds – 5 Things I Am Watching Today?
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1. The Strait of Hormuz Shutdown Nobody Wants to Talk About The Strait of Hormuz is effectively closed — not because anyone physically blocked it, but because insurance has pulled…
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There’s More Happening – 5 Things I Am Watching Today
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on
1. Market Not Calibrated for Escalation Everything remains fluid, but the market is not calibrated for this escalation of war. Everyone had assumed that it would be like Venezuela, and…
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Everything Is Fluid – 5 Things I Am Watching Today
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1. Middle East Flashpoint: War on Iran Escalates This is escalating. The U.K. and France are apparently talking about joining to “protect.” U.S. bases in Gulf countries are constantly under…
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Sticky Inflation – 5 Things I Am Watching Today
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1. Inflation Bites Back — PPI Blows Up the Fed Cut Trade January U.S. PPI just hit and it’s ugly. Headline 0.5% MoM — nearly double the 0.3% expected. That’s…
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Potential War? 5 Things I Am Watching Today
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on
1. Economic Data — Tariffs Are Back, Messier Than Before Slow data day, but the macro backdrop is anything but quiet. The Supreme Court struck down Trump’s emergency tariffs last…
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Rejection – 5 Things I Am Watching Today
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on
1. Housing Cooling, Fed Speak & Trade Watch U.S. home prices continue to cool a little bit — data confirmed that again this morning. It’s not a collapse situation, but…
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Trump Is Curious – 5 Things I Am Watching Today
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1. Slow Data Week – Watch the Narrative It’s a relatively slow data week for the U.S. and Canada. However, we do get to hear from a bunch of Federal…
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Private Credit: 5 Things I Am Watching Today
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on
1. Canadian Data: Retail Sales, Sentiment & Inflation Pressures Canadian retail sales dropped 0.4% in December. They were up just 0.1% in Q4 2025. Looking at early estimates for January…
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War Is Imminent? 5 Things I Am Watching Today
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on
1. Canadian Housing Softness + More Canadian new home prices registered another month-over-month decline. Not shocking at all, really. Tomorrow, we get Canadian retail sales. On the U.S. side tomorrow,…
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Panic In Metals – 5 Things I Am Watching Today
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1. Metal Meltdown: Panic or Opportunity? As I write this, silver is down 15%, and gold is down 6%. The moves we’re seeing in the metals are roughly twice the…