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Today's Summary

Fannie Mae multi-family delinquency rate almost to housing bust high. Freddie Mac reported that the Single-Family serious delinquency. rate is up year-over-year from 0.56% in November 2024. This is below the pre-pandemic level of 0.60% Freddies rate. Indiana attorney general sues Eli Lilly over insulin pricing. Rents for mid-tier multifamily rental apartments, condos for rent, and single-family homes for rent are spiking in some markets. China could employ a range of disruptive, punitive, and lethal military actions in a limited campaign against Taiwan. The price of goods and services in the short term much more tightly track the dollar than gold, at least for the time being. The Basel III Accord is projected to include silver as a tier 1 asset. Victor: The lies spread against Jews and Israel by Tucker Carlson are reminiscent of that same Nazi propaganda that led to the Holocaust. End-stage capitalism seems to be devolving quickly into nihilism. The idea of the modern stock market is to make everyone believe the Fed will do what it takes. The bond market understands this just fine, it understands that this is not QE – and so yields have risen since the announcement. Recent moves in gold is likely driven by those that understand this. US and Venezuela have reached an agreement to export up to $2 billion worth of Venezuelan crude to US ports, President Trump said. There will never be more than one or two Republican Senators that could be peeled away to vote for a conviction in any impeachment trial. Hyundai/Kia have adopted a bizarre version of the aggressive folded paper styling now used by Toyota and Honda. FCA US sales all brands combined – Jeep, Ram, Chrysler, Dodge, Fiat, and Alfa Romeo – dropped another 3% in 2025, to 1.26 million vehicles. Honda : Quarterly sales plunged by 9.5% year-over-year to 332,578 vehicles. Feds Standing Repo Facility (SRF) drops to Zero, from $75 billion. Barry Ritholtz is co-founder, chairman, and chief investment officer of Ritholz Wealth Management LLC. He talks to Stephanie Drescher, Apollos Chief Client and Product Development Officer. We discuss the increased interest in private markets for investor portfolios. The Deluge shows that power and independence are not permanent. Europe needs to be able to build not just drones, but every single thing that goes into making a drone — batteries, motors, various types of computer chips, and so on. Europe can partially compensate for the loss of Chinese export markets. In real terms, the Case-Shiller National index (SA) is about 9.7% above the bubble peak (and historically there has been an upward slope to real house prices) The increase in inventory is putting downward pressure on house prices, combined with inflation. Foreign-owned factories in Japan tend to export more and innovate more. Bitcoin hovered near $92,000 on Tuesday as analysts and traders pointed to improving technical and macro signals suggesting the cryptocurrency may have put its brutal fourth-quarter sell-off behind it. XRP has emerged as the best-performing asset among the top 10 cryptocurrencies by market capitalization to start 2026. Japan is now a global center of high-tech innovation. Abenomics aims to revitalize existing companies through changes in corporate governance, business strategy, and labor practices. Sakana AI raises $214 million and valued at $1.5 billion. Foreign companies building their own branch offices and factories in Japan. Greenfield platform FDI builds factories or offices in Japan in order to create goods and services. A few big American cities have built a bunch of housing, and that almost all of these cities have seen big drops in rent. Rumble Wallet will enable direct peer-to-peer payments using Bitcoin, Tethers USDT stablecoin and Tether Gold (XAUt) Rumble Wallet is designed to let creators get paid directly.