Americas
Brent Hits Six-Month High on Hormuz Risk – but 70% of OPEC’s Spare Capacity Sits Behind the Chokepoint
Brent topped $72 on a $6/bbl risk premium as the US doubled its Gulf air power in three days. The problem: 5.8M bpd of OPEC spare capacity is stuck behind the same strait Iran just closed for live-fire drills.
Americas
Brazil’s Minimum Wage Has Outrun Its Economy by Six to One – and the Bill Is Coming Due
Real wages up 188% since the Plano Real, productivity up 30%. With debt heading for 95% of GDP and the Selic pinned at 15%, Brazil's social model is running out of room.
Americas
Argentina’s $18 Billion Copper Bet Starts From Zero
Vicuña's $18B copper-gold-silver PEA targets 395,000 tonnes of copper a year from San Juan — but Argentina hasn't mined a kilo since Alumbrera closed in 2018.
Stocks
Ford Took Its Biggest Write-Down Since 2008 and the Stock Rallied Anyway
Ford took a $19.5B EV write-down and posted its worst GAAP loss since 2008 — yet shares rallied on $8-10B EBIT guidance and a $30K electric pickup bet for 2027.
Economy
Argentina’s Steel Towns Brace for What Milei’s Labor Reform Won’t Fix
Milei's labor reform cleared the lower house 135-115 amid a general strike, but in Villa Constitución, Acindar's rotating suspensions show the limits of legislative fixes.
Crypto
Trump Family Pitches “The Dollar, Upgraded” at Mar-a-Lago — With Goldman, Binance’s CZ and Nicki Minaj in the Room
World Liberty Financial's Mar-a-Lago forum drew Goldman and Binance's CZ to promote USD1, but a 49% UAE stake and $1.4B in Trump crypto profits complicate the pitch.
Economy
US Mortgage Rates Hit Three-Year Low at 6.01% — but Fed Minutes Reveal Deep Policy Rift
US 30-year mortgage rate hits 6.01%, lowest since September 2022, as Fed minutes reveal policy rift and January home sales plunge 8.4% to two-year low.
Altcoins
Bitcoin Dominance Hits 60% as Five-Month Losing Streak Rewrites the Record Books
Bitcoin dominance climbs to 60% as five-month losing streak nears 2018 record. ETF outflows top $6B while whales quietly accumulate 100,000 BTC.
