Core Viewpoint - The Bank of England's monetary policy committee member, Taylor, suggests that the likelihood of economic downturn in 2026 is increasing due to weak demand and escalating trade disruptions [1] Group 1 - The potential for economic decline in 2026 is being driven by a combination of weak demand and trade interruptions [1] - The current economic conditions may lead to a deviation from the expected economic trajectory [1]

Core Viewpoint - The Bank of Canada meeting minutes indicate that cost increases due to trade disruptions may have played a role in commodity price inflation, but there is no clear evidence that retaliatory tariffs have had a direct impact [1] Group 1 - Trade disruptions are contributing to rising costs, which may influence inflation in commodity prices [1] - There is a lack of direct evidence linking retaliatory tariffs to significant economic impacts [1]

Core Viewpoint - The diamond industry is facing a "perfect storm" due to a combination of high import tariffs, weak global demand, and competition from lab-grown diamonds, pushing it to the brink of crisis [1][2]. Group 1: Tariff Impact - The diamond industry is heavily reliant on a complex supply chain, with over half of the polished diamond demand coming from the U.S., making the new tariffs particularly damaging [1][2]. - The industry is currently awaiting the outcome after a 90-day tariff suspension period, as players search for a new equilibrium amidst plummeting prices [1]. Group 2: Supply Chain Challenges - Diamonds typically traverse multiple borders before reaching U.S. retailers, making the industry vulnerable to trade disruptions [2]. - The industry is advocating for diamonds to be exempt from tariffs, similar to other raw materials like gold and copper [2]. Group 3: Competition from Lab-Grown Diamonds - Lab-grown diamonds, which are chemically identical to natural diamonds but priced 80% lower, represent the most significant disruption to the industry [3]. - A study indicated that over half of U.S. couples surveyed last year chose lab-grown diamonds for their engagement rings, highlighting a shift in consumer preferences [3]. Group 4: Price Dynamics - Since peaking in March 2022, natural diamond prices have dropped nearly 60% due to poor macroeconomic conditions and increased competition from lab-grown alternatives [4]. - Analysts suggest that the market is nearing a stabilization point between lab-grown and natural diamonds, as the price difference creates a clear distinction for consumers [4].

Group 1: Oil Market Overview - Oil prices have been volatile, influenced by geopolitical tensions and bearish crude data from the U.S. West Texas Intermediate (WTI) crude is down 0.7% at $61.62, contributing to a 14.3% year-to-date deficit [1] - The market is reacting to reports of Israel preparing to strike Iran, which has added to the volatility [1] Group 2: Company Performance - EQT Corp (NYSE:EQT) reached an 11-year high of $57.37, currently down 0.3% at $55.96, with a year-over-year increase of 35.7% and a year-to-date increase of 21.5% [2] - TotalEnergies SE (NYSE:TTE) is down 0.3% at $59.21, facing resistance at the $60 level and its 160-day moving average, but is still up 8.7% year-to-date [3] - Diamondback Energy Inc (NASDAQ:FANG) hit a two-year low of $114.00, currently down 0.8% at $137.22, and has decreased 16.2% year-to-date [4]