VIX the driver, JPY, CHF, Gold react / China-US moderating / SPX 55-5600 res / UKR-RU talks next

Good to see BIG Oil CEO's have the 'courage' to say it... about time...."We don’t have an energy direction right now," Occidental Petroleum CEO Vicki Hollub said. "We have a lot of great ideas. We have a lot of people wanting to do things. But we need a plan.", and with prices down here, there is NO 'drill baby drill'..
Markets : China considering suspending 125% tariffs on some U.S imports, China Injects Cash to Counter Tariff Impact. China spokesman Guo Jiakun says that Trump’s “blackmail” negotiation tactics will NEVER work with China...Trump clearly in a bind, folded, let's try to talk...Big OIL got the courage to tell him too, see below. Same as with tariffs, Trump wants peace in UKR-RU, but has zero plan really..just wants everyone to stop fighting.. overall SPX500 into resistance zone 55/5600 area, CHF, JPY, GOLD all correcting together (tariffs premium easing), while VIX gets hammered daily, it works its magic again in reverse! USD may well correct from oversold levels, but overall U.S exceptionalism is over, at least while Trump is in there! and questioning Powell, makes the next FED Chair a poisoned chalice! and a big issue for markets long.term
There are increasing signs that the US/China Embargo by the US new admin is starting to have real economic consequences, hence Trump had to turn around, as we said, once WMT warns you of empty shelves...best stop before riots!
The Fed’s Christopher Waller said he’d support rate cuts if tariffs drive job losses >>> Trump says the Fed chair is a “major loser,” but the bigger loser from his fracas with the Fed could be whomever Trump chooses to succeed Jay Powell next year By bashing the Fed to influence policy, Trump could create a “shadow of suspicion” over his own nominee
Europe’s Dangerous Drift Toward China / Thread
A long-term weaker dollar coupled with capped yields is exactly the environment the rest of the world needs to begin outperforming US equities / Thread
The Swiss National Bank said it posted a Q1 profit of 6.7 billion Swiss francs
California now 4th largest economy in the world
Tariffs have been cited on more than 90% of S&P calls so far this earnings season. The term “recession” was mentioned on 44% of calls
Addressing early concerns of positioning away from US assets, JP Morgan finds little evidence of foreign selling of US equities. Instead, much of the selling has been driven by equity-focused hedge funds, including CTAs, which have been unwinding elevated long positions held since mid-February
Saudi – usually a lender to the world – has now become a borrower, even with oil prices at $80.This new reality looks set to stay/Thread
China to boost yuan with overseas gold storage facilities as it challenges US hegemony
Pakistan halts trade and India revokes visas as retaliatory measures ramp up after Kashmir killings