Wealthion Macro Bites 2-12

President Trump signed an executive order (“Strengthening United States National Defense with America’s Beautiful Clean Coal Power Generation Fleet”) directing the Defense Department to form purchase agreements to buy electricity from coal-fired power plants. Separately, Trump announced that the Energy Department will provide six coal plants in Kentucky, North Carolina, Ohio, Virginia and West Virginia with $175M for upgrades and the Tennessee Valley Authority (largest U.S. public utility) will delay closure of two of its older coal-fired plants.

The China Chamber of Commerce of Metals, Minerals & Chemicals Imports & Exports will hold a public policy briefing on 3/5 in Beijing to update metals firms on critical mineral export controls, customs clearance and compliance requirements. Also on the agenda are market analyses on global supply, demand and overseas resource development for rare earths and metals such as tungsten, tin and antimony. Participants include state-owned and private metals producers, including China Rare Earths, China Northern Rare Earth, Jiangxi Copper, CMOC, and Zijin. Stay tuned…

In June, China’s Zijin Mining will initiate Congo’s first lithium output from the disputed Manono deposit and move immediately to exports, as China exerts further influence over global critical mineral supplies with its significant investments in African resources. The Manono resource, one of the world’s largest undeveloped hard-rock lithium deposits, is at the center of ongoing arbitration after the DRC cancelled Australian miner AVZ’s permit and reassigned part of the site to Manono Lithium, Zijin’s joint venture with state-miner Cominiere.

At the Cape Town Indaba Conference, the DRC Ministry of Mines announced the country shipped 3.4 million tons of copper in 2025, a 10% y/y increase. Chinese firms dominate DRC copper production, with CMOC’s Tenke Fungurume mine producing 519,000 tons and Kisanfu producing 228,000 tons.

CBO’s 10-year budget outlook forecasts a 2026 budget deficit of $1.853T (5.8% of GDP). Over the next decade, the deficit will average 6.1% of GDP (peaking at 6.7% in ’36). While CBO incorporates forecasts of 2.2% GDP growth in ’26 declining to an average 1.8% for the rest of the decade, Trump administration GDP forecasts begin at 4% this year and climb thereafter.

Euro Stoxx 50 +0.55%, S&P futures +0.3% and Nasdaq futures +0.3%. DXY dollar index flat, spot gold -0.45% and spot silver -1.5%.

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