It was a mistake for Trump to focus his first 100 days on ending the Ukraine war instead of dealing with Iran. Will he soon pivot? I still like gold.

I explained why Xi Jinping's trip to southeast Asia is unlikely to bolster China's negotiating position vis-a-vis the US

The USD and RMB have underperformed only because the global trade war has become a US-China trade war. But has it? I remain long 5y notes and long gold.