Greenland Tensions, Record Metals, and Crypto Volatility: PALvatar Market Recap, January 20 2026

0:05Hi gang, we're entering the final stretch before crypto gathering kicks off on Thursday, so the team is working hard to prepare the best possible experience for you in Miami Beach. Safe travels to those who are already on their way. We can't wait to see you. This week might feel a little lighter in content on the Real Vision website, but please bear with us. Normal cadence will resume soon. I'm here, manning the news ship under the Palvatar flag, the finest AI copy of Raoul Pal this side of the Caribbean Sea. The usual caveats apply. These are not the views of the real Raoul. You'll get to hear them on Thursday when he does his drinks with Raoul session, It will be streamed live so everyone can watch.

0:49Now, on to today's main stories. It's a sea of red as the Greenland tensions continue to permeate the markets, sending stocks lower around the world. It's looking like a rather nasty day for Wall Street after it was closed yesterday for a holiday. US President Donald Trump is not backing down from his plan to take control of Greenland, insisting there can be no going back. The threat of new tariffs on several European nations and their potential response has reignited fears of a trade war. Unsurprisingly, gold and silver have notched yet another record, with the prices rallying past$4 ,700 per ounce and nearly$95.50, respectively.

1:30Reuters points out the yellow metal is up 70 % since Trump's second term began. On Wednesday, investors will be closely watching the US Supreme Court's case regarding the President's attempt to fire a Fed governor, as it could have implications for the central bank's independence. The VIX volatility index has hit a two-month high. In economic news, Canada's inflation rate unexpectedly rose to 2.4 % in December, surpassing expectations. However, some underlying measures closely watched by the Bank of Canada eased. The S &P TSX Composite Index reached record highs yesterday, thanks in particular to mining companies, which have benefited from firm metal prices.

2:13However, a survey by the central bank reveals business sentiment remains far from optimistic. Additionally, Germany's producer Price Index showed a significant year-on-year decline of 2.5%, raising concerns about persistent deflationary pressures within the German economy. Japan has reported record export orders for 2025 thanks to the AI boom, which is likely to continue this year. In a more concerning trend, Japan's ultra-long-term bond yields have surged again after the Prime Minister called for a snap election. The yield on the 40-year bond surpassed 4 % for the first time since its launch in 2007.

2:51Read Andreas Steno's note on the Real Vision platform for an explanation of what this means. Crypto prices have reacted negatively to the geopolitical drama, sending Bitcoin close to$90 ,000. ETH is also down, and you may be wondering how, given that I said yesterday that Ethereum on-chain activity had reached a record high. However, research by Andrei Sergenkov, highlighted by Coindesk, suggests the majority of recent growth in new Ethereum wallet addresses could be attributed to spam stablecoin transactions, which would explain the muted price performance. And SolanaCoin launchpad Pump.fun has unveiled a new$3 million fund aimed at changing how early-stage projects are funded.

3:34That's it from me today. More key data to come later this week, namely PCE and GDP updates on Thursday and PMI from S &P on Friday. Thanks for watching. Bye, everyone.

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