Group 1 - The current volatile interest rate environment and increased uncertainty in capital markets make the selection of decent-yielding instruments with acceptable risk crucial for investors [1] - Long-term bond ETFs and preferred shares of closed-end funds are highlighted as potential investment options [1] - Denislav Iliev, an experienced day trader with over 15 years in the field, leads a team of 40 analysts focused on identifying mispriced investments in fixed-income and closed-end funds [1] Group 2 - The investing group Trade With Beta offers features such as frequent picks for mispriced preferred stocks and baby bonds, weekly reviews of over 1200 equities, IPO previews, hedging strategies, and an actively managed portfolio [1]

Report Summary 1. Report Industry Investment Rating No industry investment rating is provided in the reports. 2. Core View The reports present cross - market, cross - period, spot - futures, and cross - variety arbitrage tracking data for various non - ferrous metals on January 7, 2026, including copper, zinc, aluminum, nickel, lead, and tin, helping investors identify potential arbitrage opportunities. 3. Summary by Related Catalogs Cross - Market Arbitrage Tracking - **Copper**: On January 7, 2026, the domestic spot price was 103,600, the LME price was 13,375, and the ratio was 7.55. The spot import equilibrium ratio was 7.93, with a loss of 1,275.62; the spot export profit was 1,514.20. The March ratio was 7.77 [1]. - **Zinc**: The domestic spot price was 24,340, the LME price was 3,202, and the ratio was 7.60. The spot import equilibrium ratio was 8.34, with a loss of 2,367.48. The March ratio was 5.41 [1]. - **Aluminum**: The domestic spot price was 23,910, the LME price was 3,093, and the ratio was 7.73. The spot import equilibrium ratio was 8.33, with a loss of 1,869.78. The March ratio was 7.76 [1]. - **Nickel**: The domestic spot price was 141,150, the LME price was 17,370, and the ratio was 8.13. The spot import equilibrium ratio was 8.02, with a profit of 440.63 [1]. - **Lead**: The domestic spot price was 17,425, the LME price was 1,994, and the ratio was 8.70. The spot import equilibrium ratio was 8.59, with a profit of 225.30. The March ratio was 11.92 [3]. Cross - Period Arbitrage Tracking - **Copper**: On January 7, 2026, the spreads between the next - month, March, April, and May contracts and the spot - month contract were 4,130, 4,250, 4,230, and 4,180 respectively, while the theoretical spreads were 608, 1,114, 1,629, and 2,144 [4]. - **Zinc**: The spreads were 495, 545, 575, and 590, and the theoretical spreads were 222, 350, 478, and 606 [4]. - **Aluminum**: The spreads were 725, 785, 815, and 865, and the theoretical spreads were 229, 359, 489, and 619 [4]. - **Lead**: The spreads were 145, 170, 175, and 205, and the theoretical spreads were 212, 320, 428, and 536 [4]. - **Nickel**: The spreads were 6,050, 6,270, 6,550, and 6,880 [4]. - **Tin**: The 5 - 1 spread was 1,040, and the theoretical spread was 7,153 [4]. Spot - Futures Arbitrage Tracking - **Copper**: The spreads between the current - month and next - month contracts and the spot were - 2,445 and 1,685 respectively, and the theoretical spreads were - 107 and 1,066 [4]. - **Zinc**: The spreads were - 540 and - 45, and the theoretical spreads were 101 and 242 [4]. - **Lead**: The spreads were - 50 and 95, and the theoretical spreads were 100 and 216 [5]. Cross - Variety Arbitrage Tracking - **Cross - Variety Ratios**: On January 7, 2026, the Shanghai (three - continuous) ratios for copper/zinc, copper/aluminum, copper/lead, aluminum/zinc, aluminum/lead, and lead/zinc were 4.33, 4.32, 6.01, 1.00, 1.39, and 0.72 respectively. The LME (three - continuous) ratios were 4.07, 4.23, 6.38, 0.96, 1.51, and 0.64 [5].

Core Insights - Bots and AI-driven trading strategies are significantly transforming Polymarket's ultra-short-term crypto markets, enabling automated systems to achieve remarkable profits while human traders struggle to keep up [1][2] Group 1: Bot Performance - A notable example includes a bot that turned $313 into $414,000 within a month by trading in BTC, ETH, and SOL markets with a 98% win rate [2] - Another bot generated $2.2 million in just two months by utilizing ensemble probability models trained on news and social data to exploit market mispricing [4] Group 2: Trading Strategies - The primary strategy employed by these bots is not to predict market direction but to exploit timing discrepancies where Polymarket prices lag behind confirmed spot momentum on major exchanges [3] - By entering trades when the actual probability is around 85% while the market shows 50/50 odds, these bots consistently buy mispriced contracts, leading to thousands of micro-trades that yield steady gains [3][5] Group 3: Market Dynamics - The automated systems take advantage of mispriced contracts, thin liquidity, and market lag, achieving a level of consistency that human traders cannot match [1]

Group 1 - Silver prices surged to a new record high, nearing the $85 mark before pulling back to around $80 due to fears of a global supply shock from Chinese export restrictions [1] - China's imposition of export licensing on silver, effective January 1, 2026, is a primary catalyst for the price surge, restricting flows from a major net exporter [4] - The physical silver market shows a significant arbitrage gap, with prices in Shanghai reaching $91 per ounce while Western paper markets trade around $77–$80 [4] Group 2 - The CME raised silver margin requirements to $25,000 per contract to curb volatility, but the current leverage in the system is lower than during the 2011 crash [6] - Long-term demand driven by solar and AI technologies is creating a structural deficit, with bullish sentiment remaining strong despite short-term volatility [6] - Notable figures in the investment community, such as Robert Kiyosaki, are optimistic about silver's potential, speculating on future price targets [6]

分组1 - The article discusses the recent addition of Bread Financial Holdings (BFH) to the exchange, highlighting the Arbitrage Trader led by Denislav Iliev, who has over 15 years of day trading experience [1] - Denislav Iliev leads a team of 40 analysts focused on identifying mispriced investments in fixed-income and closed-end funds using straightforward financial logic [1] - The investing group Trade With Beta offers features such as frequent picks for mispriced preferred stocks and baby bonds, weekly reviews of over 1200 equities, IPO previews, hedging strategies, and an actively managed portfolio [1]

Group 1 - The article discusses RenaissanceRe Holdings (RNR) and its preferred stocks, specifically RNR.PR.G and RNR.PR.F, which are rated as investment-grade [2] - The focus is on identifying mispriced investments in fixed-income and closed-end funds, highlighting the importance of timing in trading strategies [3] - The investment group Trade With Beta, led by Denislav Iliev, provides frequent picks for mispriced preferred stocks and baby bonds, along with weekly reviews of over 1200 equities [3] Group 2 - The article emphasizes the significance of closed-end funds and the potential for directional and arbitrage opportunities due to market price deviations [1] - The service offered by Trade With Beta includes actively managed portfolios and discussions for traders to share insights [3]

Core Insights - The article focuses on W. R. Berkley Corporation (WRB) and highlights its baby bonds currently yielding around 7%, which are considered to be at their lows [2]. Group 1: Company Overview - W. R. Berkley Corporation is identified as a favorite insurance company, with specific attention on its baby bonds [2]. - The current yield to maturity of WRB's baby bonds is approximately 7%, indicating a potential investment opportunity [2]. Group 2: Investment Strategy - The investment group Trade With Beta, led by Denislav Iliev, specializes in identifying mispriced investments in fixed-income and closed-end funds [2]. - The group offers features such as frequent picks for mispriced preferred stocks and baby bonds, along with weekly reviews of over 1200 equities [2].

Trading Platform - ArcxTrade is presented as a platform for funding rate arbitrage [1] - The platform simplifies arbitrage execution by allowing users to choose an asset, enter the amount, adjust leverage, and execute the arbitrage [1] Arbitrage Strategy - The report suggests using ArcxTrade for funding rate arbitrage between Paradex and extended platforms [1] - The process involves selecting an asset, specifying the amount, adjusting leverage, and executing the arbitrage [1]

Group 1 - The article focuses on National Storage Affiliates Trust (NSA) and aims to provide a credit rating using Moody's methodology [2] - The investment group Trade With Beta, led by Denislav Iliev, specializes in identifying mispriced investments in fixed-income and closed-end funds [3] - Trade With Beta offers features such as frequent picks for mispriced preferred stocks and baby bonds, weekly reviews of over 1200 equities, IPO previews, and hedging strategies [3] Group 2 - The importance of timing in trading closed-end funds and the potential for directional and arbitrage opportunities due to market price deviations is emphasized [1]

Core Insights - CME has lost its position as the leading exchange for bitcoin futures open interest, with Binance now holding approximately 125,000 BTC ($11.2 billion) compared to CME's 123,000 BTC ($11 billion) [1] Group 1: Open Interest Trends - CME's open interest started the year at 175,000 BTC but has declined due to reduced profitability in the basis trade, where traders buy spot bitcoin and sell futures [2] - Binance's open interest has remained stable throughout the year, appealing to retail traders betting on price movements [2] Group 2: Historical Context - A year ago, CME's open interest peaked at 200,000 BTC as prices approached $100,000, with an annualized basis rate of around 15%, which has now decreased to approximately 5% [3] - The decline in the basis rate indicates diminishing returns for institutional basis traders [3] Group 3: Market Dynamics - As spot and futures prices converge, arbitrage opportunities are diminishing, impacting CME's previous dominance in bitcoin futures open interest [4] - CME had been the largest exchange since November 2023, driven by institutional positioning ahead of the anticipated launch of spot bitcoin ETFs in January 2024, but this advantage appears to have diminished [4]