KG Analyzes Warsh Nomination, PPI, OpenAI & Silver's "Topping Pattern"

• Kevin Warsh's potential Fed Chair nomination is seen as hawkish, potentially leading to a stronger dollar and weakening longer-term bonds.
• Producer Price Index (PPI) for December 2025 came in hotter than expected (0.5% M/M, 3.0% Y/Y), driven by services inflation, indicating ongoing inflationary pressures.
• Major tech earnings from Apple, Microsoft, Meta, and Tesla showed mixed results, with concerns around chip supply for Apple and OpenAI's viability impacting Microsoft's data center orders.
• Metal futures, including gold, silver, copper, and platinum, experienced significant pullbacks, with silver's 14-day RSI indicating an overbought condition and a potential 'topping formation'.

The discussion covers the potential nomination of Kevin Warsh as Fed Chair, highlighting his hawkish stance and implications for the dollar and bond markets. Hotter-than-expected PPI data raises inflation concerns, particularly in services. Major tech earnings (Apple, Microsoft, Meta, Tesla) presented a mixed picture, while metals futures experienced a significant pullback from recent highs, with silver showing a 'topping formation'.