Good morning! Today's edition is full of Epstein files repercussions. From governments close to being toppled, to personal dramas that seemingly outweigh any bad behavior.
Outside of that, we have a quick update on Ukraine war, Greenland deal, and TrumpRX.
Stay ahead of the game with out forward-looking morning brief!
Top Movers
#1 The Butterfly Effect
Looks like Epstein files created more trouble for Keir Starmer than Donald Trump.
After it turned out that Lord Mandelson (UK's ambassador to the US) figures prominently in the Epstein files, Starmer's government faced yet another round of scrutiny. Starmer has already enjoyed weak support due to unpopular reforms combined with the rise of ReformUK. Traders see this crisis as potentially being the last nail in the coffin.
#2 Russian Gains
Another day, another Russian gains.
This time we are talking about Pokrovsk. And it is an interesting situation - Russian war bloggers deem this city as taken since November, while ISW still lists it as under Ukrainian control due to heavy fighting un the north. However, even ISW admits the takeover is a formality at this point.
It's an important development as Pokrovsk was an important city logistics wise.
#3 Tough Deals
It looks like the market is slowly internalizing that the dealmaker in charge is now facing the one enemy that might overcome him - European bureaucracy.
We know since Davos that the framework of a deal is pretty much aligned. What the market didn't realize at first that even an annex to the current treaty would require Danish parliament's approval and Greenland's parliament's approval. And knowing European bureaucracy, it can take decades to finalize such deals.
#4 At Last
We have another Oval Office announcement today at 7PM and once again the market shot up, believing this one is finally about TrumpRX.
Initially promised to go live in January, the project had a slight delay. But this time it seems the announcement might be about it as the landing page is now deleted, with the previous link redirecting to a blank page with a single sentence at the top.
#5 No Consequences
While at least one European government looks in the face of collapse, American friends of Epstein hold up pretty well.
Despite figuring prominently in the Epstein files, the market no longer feels confident he will be out of his CBS role anytime soon. Personally, he expressed his shame, but said he had never witnessed any illegal activity.
Wrap up
That’s all for today - did you catch any of the moves? See you tomorrow for another Morning Brief!
This is not official investment or life advice. Do your own research. This are only my opinions and I encourage anyone to do their own research before putting any money anywhere.