Powells view on AI's long-term US economic gains, despite short-term labour disruptions, is a timely reminder for South Africa.
With unemployment still at 31.4%, we must prioritise skills development and policies that harness AI for job creation rather than displacement.
JUST IN: Jerome Powell predicts AI will benefit the American economy long-term despite negative short-term effects on the labor market.
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Bald retweeted
Gold is above $4,700. Since bottoming on March 23rd (my birthday), gold has rallied close to 15% in just over one week, finishing the quarter up about 7%. Despite today's rise, March was the worst month for gold since 2008. As a result, April may be gold's best month since 1980.
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US defence Secretary Hegseth states the coming days will be decisive in the conflict with Iran.
Me watches from afar
Escalating tensions risk further oil price spikes and global supply disruptions.
Stability in the Middle East remains vital for emerging markets.
BREAKING: The US Department of War begins its press conference with Defense Secretary Hegseth saying:
"Troops told me let's finish the mission... the upcoming days will be decisive in war with Iran."
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$85B in US equity sales over 30 days
The largest since the 2020 crash has pushed positioning to a deep net short of -$37B.
Goldman now sees CTAs as buyers across all scenarios next month. Classic setup for a technical relief rally.
Positioning matters
Systematic selling of US equities may be running out of steam:
Commodity Trading Advisors (CTAs), the algorithm-driven funds that buy and sell based on price trends, have sold -$85 billion in US equities over the last 30 trading sessions.
This marks the largest 30-day sale since the 2020 pandemic, when CTAs sold -$105 billion.
By comparison, the March-April 2025 correction saw -$80 billion in sales.
As a result, CTAs are now short -$37 billion in US equities, the 3rd-highest amount since 2019, behind the April 2025 low and November 2023.
Meanwhile, Goldman Sachs estimates that CTAs are set to buy in every market scenario over the next month.
The market is setting up for a relief rally.
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On-Chain All-Stars #8748
Bought for 0.0125 ETH ($25)
buyer: 0xd087...e0ab
seller: 0x7592...226a
opensea.io/assets/ethereum/0…
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Bald retweeted
Found this great @OnChainAllStars around floor.
Perfect match for my other two “Funky Teal” 😎
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On-Chain All-Stars #1278
Bought for 0.0120 ETH ($26)
buyer: 0x6456...ad41
seller: 0x6a86...a607
opensea.io/assets/ethereum/0…
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