What is "Arbitrage"? Trading 101, sucka. Someone, somewhere, has blowed up real good. Not sure who it is, yet, but it's always the same pattern. Always.
zerohedge @zerohedge
Top Overnight News
Oil fell for the first time in six days after Donald Trump signaled he may hold off on attacking Iran for now after being reassured that Tehran would stop killing people involved in protests. BBG
U.S. President Donald Trump said on Wednesday he has no plans to fire Jerome Powell despite a Justice Department criminal investigation into the Federal Reserve chair, but it was "too early" to say what he would ultimately do. RTRS
Volodymyr Zelenskiy is the main obstacle to an agreement to end Ukraine’s war with Russia, Trump claimed, telling Reuters that Vladimir Putin is “ready to make a deal.” BBG
Nasdaq futures swung to a gain (NDX futs +85 bps pre mkt) after TSMC renewed confidence in AI demand, earmarking as much as $56 billion in capital spending for 2026. ASML’s shares rallied to a record on its client’s upbeat outlook. BBG
The US is intensifying pressure on Mexico to allow US military forces to conduct joint operations to dismantle fentanyl labs inside the country. NYT
Coinbase Global Inc. has pulled its support for the current version of the market-structure bill due for markup in the Senate Banking Committee on Thursday. Coinbase's CEO Brian Armstrong cited "too many issues" with the bill, including a defacto ban on tokenized equities and DeFi prohibitions. BBG
China’s central bank rolled out targeted easing measures to bolster support for sectors deemed strategic by Beijing, as policymakers seek to ensure a strong start to the year. The PBOC will cut rates on its structural policy tools by 0.25 percentage point, lowering the rate on one-year relending facilities to 1.25%. WSJ
Leaders of Japan's main opposition Constitutional Democratic Party of Japan and the lay Buddhist organization-backed Komeito agreed on Thursday to establish a new party bringing together "centrist forces" to fight a snap parliamentary election in February. Nikkei
Hedge funds are betting the yen may slide to 165 a dollar before authorities intervene, with traders using options to position for a weakening currency. BBG
BofA card spending, week to January 10th: +4.6% Y/Y (prev. 1.7%). Strong growth across most categories, partially due to favorable base effects.
https://x.com/zerohedge/status/2011788327561703907