PIV Fund

Core PCE MoM 0%, Previous, 0.4%
(5 Year Low, lowest since April. 2020)

U.S. GDP Growth QoQ fell -0.3% from previous +2.4%, market expects +0.3%.

Main contribution comes from strong imports(-5%) amid tariffs uncertainty.

(Last negative report is Q1 2022 with -1%)

Karoline Leavitt: AMAZON SHOWING TARIFFS ON EACH PRODUCT IS A HOSTILE AND POLITICAL ACT

don't have $AMZN, but what?

For trade deal, who faces greater pressure?

**BESSENT: NO UNILATERAL OFFER FROM TRUMP TO CUT CHINA TARIFFS

**BESSENT: DECLINES TO COMMENT ON WSJ STORY ON LOWERING TARIFFS ON CHINA, BUT WOULD NOT BE SURPRISED IF THEY WENT DOWN IN A MUTUAL WAY

**BESSENT: FULL CHINA TRADE DEAL MAY TAKE 2-TO-3 YEARS

SPX +2.5%
DXY +1.3%
BTC +6.8%
Gold -1.3%

IMO only thing has changed today in market is the tone of Trump.

The U.S. Dollar Index has fallen below 99, currently sitting at 98.6 — its lowest level since March 2022, when the Federal Reserve implemented its first interest rate hike since 2018.

A 9% drop year-to-date, meaning, any asset with less than a 10% gain is actually losing value in terms of U.S. dollar purchasing power.

But we can zoom out.

CHINA FINANCE MINISTRY: TO IMPOSE ADDITIONAL 50% TARIFFS, TO 84% ON U.S. GOODS, CCTV

1-YEAR RETURN AFTER 4 MAJOR NASDAQ DIPS
2009/3 - 2010/3
Nasdaq +85%
Gold +21%

2018/12 - 2019/12
Nasdaq +47%
Gold +21%
Bitcoin +92%

2020/03 - 2021/03
Nasdaq +85%
Gold +6%
Bitcoin +849%

2022/10 - 2023/10
Nasdaq +32%
Gold +21%
Bitcoin +56%

[?] Monday
BTC $78,500 -6%
ETH $1,586 -12%
Gold $3,020 -0.7%

Nasdaq 100 $16,680 -4.8%

Despite the plunge, the Nasdaq now has a much higher chance of gaining 20% this year with a moderate EPS.

This comes as it has only recovered 80% of its year-to-date drop.

Daily routine of this week

Do you believe the trade world has changed starting today?

CHINA RE-RECIPROCAL TARIFFS TO IMPOSE ADDITIONAL 34% TARIFFS ON ALL IMPORTED U.S. PRODUCTS STARTING APRIL 10, XINHUA NEWS
$Nasdaq -3.3%
$BTC -1.4%
$Gold +0.6%

US2Y -5%
US10Y -3.7%

Markets are bracing for a U.S. recession (50% chance happening)

The bond market is pricing in 4 cuts this year to rescue the economy.

Pressure on Fed

Where do you see Bitcoin ending up by the end of Q2?

Stocks, bonds, and gold all decline—there’s likely only one reason for this, liquidity squeeze

People from Wisconsin are quite into decentralized technology.

Bitcoin drops below $82,000 momentarily.

Strategy (MicroStrategy) Bought 6,911 BTC, Holds Over 500K BTC now (506,137 BTC), Second Only to BlackRock