Author: Zulfiqar
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War, Deals & Bonds – 5 Things I Am Watching Today?
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
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
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
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
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
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
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
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
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
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…
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Central Banks – 5 Things I Am Watching Today
1. Fed Day: Rates, Powell, and the Economy It’s Fed Day. At 2:00 PM, we find out whether the Federal Reserve changes interest rates or not (likely unchanged). There’s also…
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The Rally No One Was Watching: South America ETFs
The Noise Nobody Expected The news was truly unexpected. Not too long ago, we woke up to headlines that the U.S. had apprehended the President of Venezuela. Following this, there…
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Tactical Trader Notes
Market Intelligence For Traders Looking For Ideas Tactical Trader Notes is a market intelligence publication built for investors who operate on shorter timeframes and want ideas that are developing now…
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Patient Capital Letter
Long‑Term Market Intelligence for Patient Investors Patient Capital Letter is a long‑term market intelligence publication built for investors who understand that real wealth is created over time, not days and…
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Strait Of Hormuz – 5 Things I Am Watching Today
1. Silver getting frothy As I write this, silver is trading around $99.57, uncomfortably close to $100 an ounce. Silver has had an incredible run. Anyone who’s been following me…