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This week, we’ve got…

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Chinese companies are abandoning US markets in droves. Chinese IPOs in America have collapsed 93% since 2021, raising just $875 million this year compared to $13 billion at the peak. Hong Kong is reaping the rewards, with Chinese listings surging 164% to $18.4 billion across 56 deals.

Beijing's regulatory crackdown after Didi's disastrous 2021 New York debut changed everything. The ride-hailing giant lasted six months before China forced its delisting, sending a clear message about where Chinese companies should raise capital. Now firms face regulatory gauntlets for U.S. approval, especially in "strategic industries."

The Nasdaq raised the bar with $25 million minimum raises for Chinese firms, while Hong Kong rolled out its "Technology Enterprises Channel" to fast-track tech listings. So there’s a burgeoning opportunity overseas: Hong Kong's Hang Seng is up 27% this year, and major deals like Contemporary Amperex's $5.3 billion IPO debut. Calls from US lawmakers to delist Chinese firms from American exchanges are only accelerating the pivot to Hong Kong, so it’s a volatile play at best.

As corporate America takes the tariff shock, some investors who don’t want to bear the burden are flocking to metals. Gold smashed through $4,300 per ounce for the first time, booming nearly 60% this year as the ultimate hedge against economic chaos. Bank of America and Societe Generale are now targeting $5,000 by 2026.

Here's the painful reality for everyone else: Trump's tariffs will cost global businesses $1.2 trillion in 2025, with consumers bearing two-thirds of that burden despite White House claims about "foreign exporters" paying. S&P Global's analysis shows companies will absorb $400 billion in costs while passing $800 billion to shoppers.

The investment playbook is straightforward. Gold protects against tariff-driven inflation and economic uncertainty. Avoid consumer discretionary stocks and importers facing margin compression. Silver hit a record $53.60 before pulling back, but remains supported by the same forces driving gold higher. Fed rate cut expectations and escalating US-China trade tensions are creating perfect conditions for metals bulls, and for now, the market’s got plenty of momentum to run on.

Elected officials have had a tremendous amount of success in the market recently.

I want to keep you updated on what they’re trading and when—so you can leverage that intel as you plan out your own portfolio.

Data provided by AltIndex.

Remember to always DYOR.

That’s all for today. Write us and let us know your thoughts on the market, the newsletter, or the weather—we’d just love to hear from you.

Till next time,
— Brandon and Blake with Invested Inc.