Wednesday Watch

Around X:

• @ElonMusk

• Last week, Treasury went live with its first automated payment verification system. In total, $334 million in improper payment requests were identified and rejected due to: -Missing budget codes -Invalid budget codes (i.e. the payment was not linked to the budget) -Budget codes with no authorization (i.e. the budget had already been fully spent). This is a big deal.

• @ZeroHedge

• A Key Antioxidant For Longevity Is Fading From Our Food Supply.
• *TRUMP: WE'LL PASS TAX CUTS IN COMING WEEKS AND MONTHS *TRUMP VOWS NO CUTS FOR MEDICARE AND SOCIAL SECURITY.
• "The World Is Witnessing A Revolution Of Common Sense" - Trump's (Second) First 100 Days.
• Dem Rep Who Filed Trump Impeachment Articles Under Fire For Dog, Monkey Abuse In Bankruptcy Scandal. 
• Watch Live: President Trump Delivers Remarks On His First 100 Days.
• India Is Most Likely To Sign First Major Trade Deal With US, Here's Why.
• We Need To Reclaim Our Country's Soul From The Radical Left
• Stocks & Bonds Rally As 'Soft' Data Slumps.

• @MarioNawful

• THE INVISIBLE PUPPET MASTERS: AI'S DISTURBING NEW ROLE IN SHAPING MINDS. The revelation that University of Zurich researchers secretly deployed AI bots to manipulate Reddit users' opinions should chill anyone who values authentic human discourse. These weren't merely passive observers—they were digital persuaders that analyzed users' personal histories, fabricated identities, and crafted arguments specifically designed to change minds. Most troubling? 
• TRUMP: PUTIN SAW WHAT HAPPENED WITH AFGHANISTAN AND WENT FOR UKRAINE. "I think if it weren't for me, he'd want the whole country. When I left, there was no chance this would happen. Biden got involved, and the war started. Putin saw Afghanistan—how incompetently others handled it. One of the greatest embarrassments in U.S. history." (video) 
• TRUMP ON DOGE: WE FOUND A LOT OF FRAUD AND ENDED IT... SAVED BILLIONS OF DOLLARS. “We also found tremendous waste, fraud and abuse. As you know, we found a lot of fraud. There was a lot of fraud, fraudulent things were taking place, and we ended that, and those people are gonna be suffering because of it.” (video)
• TRUMP: WE HAVE THOUSANDS OF MURDERERS WHO CAME IN ILLEGALLY. “I can't have a trial — a major trial — for every person that came in illegally. We have thousands of murderers that came in. They're gonna murder people. They already have murdered people in our country.” (video)
• TRUMP: 11,888 MURDERERS CAME IN — SOME KILLED MORE THAN ONCE. “They were allowing people to come in from prisons, as you know, and you've heard me say it, but you've heard a lot of people say it. Prisons, mental institutions, gang members, murderers. We had many murderers—11,888. They think some murdered more than one person.” (video)
• TRUMP: IN JUST THREE MONTHS, I’VE ALREADY STARTED FIXING BIDEN’S UNSUSTAINABLE TRADE DISASTER. "I've been here for three months. I've taken a trade deficit down to a number that's starting to get really good. What Biden did to this country—with open borders and every country ripping us off on trade—was not sustainable." (video)
• TRUMP: WE WERE LOSING $5B A DAY ON TRADE—TARIFFS FIXED IT WITHOUT INFLATION. "This is what I campaigned on. We were losing $3 to $5 billion a day on trade—$1.5 to $2 trillion a year. I could’ve left it that way, but it would’ve led to an implosion. We had the best economy, no inflation, and took hundreds of billions from China in tariffs. We had to fix it." 
• TRUMP: NO CUTS TO MEDICARE, SOCIAL SECURITY, OR MEDICAID — WE’RE INVESTING MORE. “We will always protect Medicare and Social Security for our great seniors with no cuts, and we will defend Medicaid for those great people who are in need. House Republicans are working to invest more money in Medicaid than we spend today.” 
• TRUMP: NVIDIA, TSMC, AMAZON ARE POURING HUNDREDS OF BILLIONS INTO THE U.S. "My friend Jensen from Nvidia — they're spending, you know what Nvidia is? They're spending $500 billion. TSMC, the biggest chipmaker in the world by far from Taiwan — they're spending $200 billion in the United States. Amazon, $21 billion. Johnson & Johnson, $55 billion. The Mac, $20 billion. Merck, General Motors are putting in billions and billions of dollars, and many other companies.” (video)

• @mercoglianos

• When everyone says that the there are no ships heading to the United States, show them this. Green are cargo ships, red tankers and blue are passenger ships. (map)

• @catturd

• New Canadian PM Mark Carney: "We have an enormous opportunity to bring climate change into the heart of every financial decision." "We can deliver the net zero world that you've demanded, and that our future generations deserve." An entire country about to be destroyed over a hoax. (video)

• @WallStreetApes

• California resident reports “Blue rain”. “I live here in the Central Valley, and it was raining a couple minutes ago. Can anyone explain the blue water?” He shows multiple buckets of water. All blue. California has 3 major cloud seeding programs in the Central Valley area.

• @Liz_Churchill10

• Canada just elected a Prime Minister that is friends with Ghislane Maxwell. (pic)

• @VigilantFox

• RFK Jr. Just Named the Government Agency Behind America’s Geoengineering Nightmare. For years, they told us chemtrails were just a “conspiracy theory.” Now, RFK Jr. isn’t just confirming that “crimes” are happening. He’s exposing exactly who’s behind them.
• DISTURBING: The UK government has officially announced plans to DIM the sun through geoengineering. I wish this was a joke. This stands in direct contrast to the U.S., where RFK Jr. calls geoengineering a “crime” and just responded to the UK’s announcement by saying: “We will soon end this crime against humanity and our planet and bring justice to the plutocrats perpetrating this mass, uncontrolled experiment.” It’s the first time a major U.S. leader has used those words on record. (video)

• @goddeketal

• BREAKING — It’s now official: the massive blackout in Spain, Portugal, and France was caused by “green energy.” Spain’s grid operator admitted renewables triggered the collapse. The Green New Deal is Europe’s economic death sentence.
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Night Trading 

• Asian equity indices are -.25% to +.5% on average. 
• Asia Ex-Japan Investment Grade CDS Index 94.75 +1.0 basis point. 
• China Sovereign CDS 59.0 -1.25 basis points.
• China Iron Ore Spot 98.4 USD/Metric Tonne -.06%
• Swiss Franc/Offshore Chinese Renminbi Cross 8.83 +.02%.
• Bloomberg Emerging Markets Currency Index 37.0 -.01%.
• Bloomberg Global Risk-On/Risk Off Index 59.8 +.4%.
• US 10-Year Yield 4.16% -1.0 basis point.
• Volatility Index(VIX) futures 23.6 +.8%.
• Euro Stoxx 50 futures -.06%. 
• S&P 500 futures -.39%. 
• NASDAQ 100 futures -.59%.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and consumer discretionary shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the day.