Crypto
Kraken Just Got a Key to the Fed. Five Years Ago They Were Told That Would Never Happen.
Kraken Financial just became the first crypto company with a Federal Reserve master account. Direct Fedwire access. No middleman bank. Five years in the making.
Forex
The Yen Lost Its Safe-Haven Status in a Week. Japan Has Three Weeks of Gas Left.
USD/JPY hit 157.80. Japan imports 95% of its oil from the Middle East. It has three weeks of gas. The yen's safe-haven status just became an energy liability.
Stocks
Fertiliser Stocks Are the New Oil Trade. The Strait of Hormuz Doesn’t Just Move Crude.
CF Industries hit a record. Intrepid Potash touched a 52-week high. Hormuz carries 33% of global urea. The fertiliser trade is the one nobody saw coming.
Stocks
The Prime Minister Just Told Poland’s Biggest Company to Sacrifice Its Margins. The Market Heard Something Worse.
Tusk told Orlen to absorb oil price shocks. The stock fell 3.8%. WIG20 lost 4.5%. Foreign capital got a lesson in what emerging market political risk costs.
Economy
Russia Is Feeding Iran Intelligence on American Troop Positions. The War Just Got a Third Player.
Russia is sharing satellite intelligence with Iran on US troop positions. Six Americans are dead. Moscow profits from every barrel Iran can't sell.
Crypto
A Central Bank Just Committed $350 Million to Crypto. Not From Seized Coins. From Its Actual Reserves.
Kazakhstan's central bank is allocating $350M from reserves into crypto-linked assets starting April. Not seized coins. Actual sovereign capital.
Stocks
Minus 92,000 Jobs. Plus 77% AI Revenue. Same Friday.
US payrolls fell 92,000 in February. The Dow dropped 880 points. Then Broadcom's AI revenue surged 77% and the Nasdaq reversed. Two economies, one index.
Americas
Brent Just Posted Its Biggest Weekly Gain Since Russia Invaded Ukraine. The Parallels Don’t Stop at the Price.
Brent hit $85.85 — a 52-week high. Oil posted its biggest weekly gain since Russia invaded Ukraine. But this time the supply isn't rerouted. It's trapped.
