Good morning. Two quick headlines today.

🇩🇪 The outgoing German chancellor, Olas Scholz, has condemned Elon Musk’s support for the far-right Alternative for Germany (AfD) party, accusing him of election interference. In addition to his support for Donald Trump and the AfD, Musk also supports the UK’s anti-immigration Reform Party. [SOURCE - Bloomberg]

🏴‍☠️ The US has accused China of hacking US Treasury records. China has denied the accusation but this is the latest of a series of serious breaches of US system by Chinese hackers, following the recent infiltration of US phone networks in early December. [SOURCE - BBC]

🇹🇹 Trinidad and Tobago has imposed a state of emergency in response to an increase in gang warfare. [SOURCE - Al Jazeera]

Key Metrics

WTI is $70.38 (Down)

Low |--- < ----------------| High

Wheat is $185.735 (Down)

Low |------ < -------------| High

EuroDollar is $1.04 (Down)

Low | < -------------------| High

YuanDollar is $0.14 (Unchanged)

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Graphs are illustrative to show comparative price over last 180 days

Metrics via AlphaVantage updated Dec 31 2024 08:05 UTC

Americas Stability Ratings and News Summary

More Unstable

🇦🇷 Argentina, 🇧🇿 Belize, 🇧🇴 Bolivia, 🇧🇷 Brazil, 🇨🇦 Canada, 🇨🇴 Colombia, 🇨🇺 Cuba, 🇩🇲 Dominica, 🇩🇴 Dominican Republic, 🇪🇨 Ecuador, 🇸🇻 El Salvador, 🇬🇩 Grenada, 🇬🇹 Guatemala, 🇬🇾 Guyana, 🇭🇹 Haiti, 🇭🇳 Honduras, 🇯🇲 Jamaica, 🇲🇽 Mexico, 🇳🇮 Nicaragua, 🇵🇦 Panama, 🇵🇪 Peru, 🇱🇨 Saint Lucia, 🇸🇷 Suriname, 🇹🇹 Trinidad and Tobago, 🇺🇸 United States Of America, 🇻🇪 Venezuela

More Stable

No countries were more stable over this period

Unchanged

🇦🇬 Antigua and Barbuda, 🇧🇧 Barbados, 🇨🇱 Chile, 🇨🇷 Costa Rica, 🇵🇾 Paraguay, 🇰🇳 Saint Kitts and Nevis, 🇻🇨 Saint Vincent and the Grenadines, 🇧🇸 The Bahamas, 🇺🇾 Uruguay

Regional News Summary

A series of significant events across the Americas has raised concerns about safety, human rights, and economic stability, underscoring the complex challenges facing the region.

In Brazil, a tragic bridge collapse on December 24, 2024, has resulted in at least eight confirmed deaths and numerous individuals still missing. Rescue operations are complicated by fears of hazardous spills from nearby industrial sites, raising alarms about infrastructure safety standards in the country [SOURCE - CBS News]. This incident comes amid broader scrutiny of labor practices, as Brazilian authorities recently rescued 163 Chinese workers from "slavery-like conditions" at a BYD construction site, prompting investigations into human trafficking allegations [SOURCE - Malay Mail].

Meanwhile, economic pressures are mounting in Brazil, with the dollar surging past R$6.20, reflecting ongoing uncertainties in the financial landscape [SOURCE - Riots Times Online]. Sugar prices are expected to decline due to improved crop yields in the EU and Thailand, while iron ore prices have dropped significantly, indicating a challenging year ahead for these industries [SOURCE - The Hindu Business Line].

In Venezuela, democracy faces new trials as the Maduro regime's human rights abuses come under scrutiny, with reports of minors being unjustly detained during protests [SOURCE - BREITBART]. The situation is exacerbated by escalating territorial tensions with Guyana, as Venezuela completes a bridge to a disputed island, raising concerns over sovereignty [SOURCE - IBTIMES].

In Argentina, the economic landscape is shifting as President Javier Milei's government grapples with rising poverty rates, now affecting nearly 40% of the population. The administration is under pressure to secure funding from the International Monetary Fund amid a currency rally that has raised inflation concerns [SOURCE - FT]. Additionally, Argentina's military strategy is evolving, focusing on regional cooperation and global integration, as tensions with Russia escalate over diplomatic incidents [SOURCE - Riots Times Online].

In the Caribbean, Trinidad and Tobago is facing a surge in violent crime, prompting the government to declare a state of emergency in response to rising homicide rates. This measure has raised concerns about human rights and the effectiveness of military involvement in civilian matters [SOURCE - BBC].

Meanwhile, Belize is enhancing its maritime patrols to combat poaching and protect its marine environment, reflecting a growing commitment to environmental conservation amid regional discussions on cruise ship tourism restrictions [SOURCE - Americas Quarterly].

Happy New Year to those of you in NZ and Oceania!

Carpe tomorrow!