Today, a look at the importance and geostrategic implications of the US-Canada trade stand-off, even if the current 50% tariff threat only impacts a small portion of the trade relationship. The geopolitical implications of the US threat to counter Iran's "enablers" are also considered, together with the latest news flow on AI data center financing stories, incoming earnings from Nvidia and other interesting names this week and much more, especially what to watch in the US and European sovereign debt markets. Today's pod was hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links

Michael Every X post highlighting key geopolitical points and why this latest round in the US-Canada "trade war" is critical stuff.
The New York Times covers Powerus, the company already manufacturing thousands of drone interceptors a month in the UAE.
US Treasury Secretary Scott Bessent's threat to cut off Iran's economy from the world, focusing especially on its "enablers" - what might that mean for new US-China tensions, which have been put on the back burner for quite some time?
Volkswagen wants to make some deep cuts to capacity and may repurpose some of its factories for defense.

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Geopolitics and US and European yields in the spotlight

Saxo Market Call

Geopolitics and US and European yields in the spotlight