News Overnight
Surprisingly lower CPI in the UK gave Gilts a good rally as Gold and Silver attempt to find a base, Bitcoin underperforms with a stable USD and rates.
It seems the FED won’t just be flying blind, they’ll be flying into fog, after ADP stopped providing its data to the Fed shortly after a speech by Fed governor Christopher Waller in late August drew attention to the central bank’s longstanding use of its weekly payroll data.
Fed Lost Access to Private Jobs Data Ahead of Government Shutdown [Wall St Journal]
US Equities sagged as central bank week draws near.
Breaking
Fed Floats Plan With Much Smaller Capital Hikes for Big Banks [Bloomberg]
Russia Is Creating a Legal System For Crypto To Avoid Western Sanctions [Yahoo! Finance]
Exclusive: US considering curbs on exports to China made with US software, sources say [Reuters]
US seeks 1 million barrels of oil for Strategic Petroleum Reserve [Reuters]
Bank of England chief warns of ‘worrying echoes’ of 2008 financial crisis [The Guardian]
US, Korea Focusing on Structure of $350 Billion Deal, Not Swap [Bloomberg]
For Free Subscribers
Silver Update 23 October 2025
The fall is slowing and some good support levels come into view. Price is still on 48.00, so near to the previous 2 all time highs at $50.00. Remember, there is no such thing as a treble top. Not saying breaking through is easy, as we’re finding out.
S&P 500 Update 23 October 2025
USD/YEN Update 23 October 2025
For Paid Subscribers
UK 10 Year Yield Update 23 October 2025
Much better than expected UK CPI (remember, the Bank of England told us this would happen) prompts big rally in Gilts despite all the political and debt issues. Yield is back near to when the Old Lady first cut this year on February 6th.
Bitcoin Update 23 October 2025
Economic Indicators Today
