🇨🇳 China prepares to become custodian of foreign sovereign gold reserves.

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🇨🇳 China's Huawei announces three-year plan to overtake Nvidia $NVDA in AI chips.

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🇮🇳 India is INVESTING $18 billion to build a domestic semiconductor industry

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🇺🇸 U.S.TREASURY SECRETARY BESSENT: Powell should have signalled 100-150 bps cut

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🇺🇸 US new home sales in August reached 0.8 million, surpassing the 0.650 million estimate.

US August new home sales increased 20.5% month-over-month, while a 0.3% decrease was estimated.

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🇺🇸 Senator Elizabeth Warren calls to investigate President Trump's family over foreign crypto deals.

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🇺🇸 Foreign student arrivals to the US have hit a four-year low, per Bloomberg.

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🇺🇸 Trump has said that Ukraine could win the war against Russia and reclaim all of its occupied territory, per The Times.

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🇷🇺 Russian Foreign Minister Lavrov says NATO has basically declared war on Russia.

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🚨🚨 Starbucks to close hundreds of stores and lay off staff as the chain continues to struggle.

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🇺🇸 BESSENT: “A 100–150bps rate cut would make sense.”

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📊 Fannie Mae on if we want affordable homes again:

1. Prices must crash by -38%, or:
2. Incomes must rise by +60%, or:
3. Mortgage rates must crash by -415 bps

For any of these 3 things, something massive would have to happen to the macroeconomy.

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🇺🇸🇯🇵 U.S. and Japanese officials are making arrangements for a trip by President Donald Trump to Japan next month.

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🇺🇸 President Trump says he would cut rates to 2% if it weren't for "too late Powell" and calls Fed Chair Powell "incompetent.".

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🚨🚨 Silver soars to $46 for the first time since 2011

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