Ankit Madhwani

Student of Intermarkets
(Bonds*FX*Commodities*EQ)
#USDINR

#Seigniorage

CFO/CXO
#DXY #Gold #GeoPolitcs
Love-All Serve All
So Be It
JSK

[Ankit Madhwani @Tathastoo]

1/n
Thread on Intermarket Relationship 1999-2021

Historical Correlation between #US30 #DowJones, #US100 #Nasdaq, #Gold #XAUUSD, #Brent #Crude, #copper #US10Y

1. US 30 / US 100 vs US 10Y

US30 / US100 was at ~2 multiple in 2000 and it is now at same level in 2021

[Ankit Madhwani @Tathastoo]

Over 20 trillion $ (20% of Global GDP) has been collectively invested in Solar globally yet we have not managed to convert even 20-25% of global energy from Solar sustainably
Did we spend it wrong?
@elonmusk

[Elon Musk @elonmusk]

It is humbling to consider that if we harness just 1 millionth of the Sun’s power for AI, that will be much more than a million times the intelligence of all of humanity

[Rakesh Pujara @RakeshPujara1]

🚨 Launch Alert

CWA Nanocap : https://t.co/BN5uEL2aHn

After the encouraging outcome of our earlier thematic launches, we believe the next structural opportunity deserves attention — India's under-owned universe of emerging listed businesses.

---

Recent examples from CWA:

🛡️ CWA Defence Theme - https://t.co/pJLVZsEHk8

Launched on 30 May 2024

⏳ ~25 months in play

The theme has performed strongly so far, validating early positioning ahead of broad-based comfort.

⚙️ CWA Metals Theme - https://t.co/Ax5W6afZjJ

Launched on 30 September 2025

⏳ ~8 months in play

Early performance and price behaviour have been encouraging, with the thesis playing out as expected.

🏥 CWA Next Gen Pharma - https://t.co/2vp9eUKuPB

Launched on 11 March 2026

⏳ ~3 months in play

Initial performance and sector traction are in line with our expectations as the theme begins to evolve.

⚡ CWA Energy Next - https://t.co/IzUqv6G5hk

Launched on 5 May 2026

⏳ ~1 month in play

The investment thesis remains intact as India's power and energy ecosystem continues to benefit from rising demand, capacity expansion and long-term infrastructure investments.

---

Why CWA Nanocap? 🚀🏭🏗️🇮🇳

We believe the next phase of India's market opportunity may not come from the companies everyone already owns — but from the hundreds of businesses quietly building the foundations of India's future growth.

Most investors know the India story. What often goes unnoticed is the vast universe of liquid listed companies beyond the headline indices — businesses that are growing alongside India's economy but remain relatively under-owned and under-researched.

CWA Nanocap focuses on this opportunity.

A few key data points:

• India has already become the world's 4th largest economy and is projected to become the 3rd largest economy by 2028.

• India's GDP is expected to more than double over the coming decade, supported by manufacturing expansion, infrastructure development, digitalisation and rising consumption.

• The National Infrastructure Pipeline represents approximately US$1.9 trillion of planned investments across roads, railways, urban development and energy.

• India's middle class is expected to expand dramatically over the coming decades, driving one of the largest consumption growth stories globally.

---

Key growth drivers accelerating the opportunity:

🏗️ Infrastructure Buildout — Massive investments across transportation, power, logistics and urban development

💳 Formalisation of the Economy — UPI, digital payments and financial inclusion continue to bring more businesses into the formal ecosystem

🛍️ Rising Middle Class — Expanding household incomes driving consumption across sectors

🏭 Manufacturing Expansion — Benefiting from domestic growth and global supply chain diversification

🌐 Digital Transformation — Creating opportunities across financial services, technology and industrial businesses

---

Why this matters:

Large-cap companies are often heavily researched, widely owned and efficiently priced.

The next generation of market leaders frequently emerges from businesses that are still scaling, still gaining market share and still relatively undiscovered by institutional capital.

Many companies in the NSE's next 750 liquid stocks sit precisely at this stage — established enough to execute, yet small enough to benefit meaningfully from India's structural growth.

We recently compiled a detailed blog analysing the investment case for India's next generation of listed businesses and why we believe this segment may represent one of the most compelling long-term opportunities in the market today.

📖 Full Blog:

https://t.co/G1AVAuFsTY

For those interested in systematic exposure to the theme, we also run a rules-based portfolio strategy focused on this opportunity:

👉 https://t.co/BN5uEL2aHn

---

Recommended Investment amount : ₹5 to 15 lakhs

Recommended investment duration : 5 years and more

[Ankit Madhwani @Tathastoo]

Macron knew where the came was before hand offcourse

[G7 @G7]

Bienvenue à Évian !

[Ankit Madhwani @Tathastoo]

DXY / G6

[G7 @G7]

Bienvenue à Évian !

[Ankit Madhwani @Tathastoo]

Greer is the authority to agree with!

[RedboxGlobal India @REDBOXINDIA]

U.S. TRADE REPRESENTATIVE GREER SCHEDULED TO VISIT INDIA ON JUNE 23-24

[Ankit Madhwani @Tathastoo]

That is the deal

[Ajay Bagga @Ajay_Bagga]

Neither side has released text of the deal.

[Ankit Madhwani @Tathastoo]

EURUSD &
USDJPY are Alphonso now that USDINR is done ✔️
@DC_aryavarta @forex_cr

[Ankit Madhwani @Tathastoo]

Awesome

[RedboxGlobal India @REDBOXINDIA]

Shiptracking Data: LNG tanker Disha, carrying cargo from Ras Laffan, Qatar, has crossed the Strait of Hormuz heading east after the US-Iran peace deal

[Ankit Madhwani @Tathastoo]

🙏🎵

[Ankit Madhwani @Tathastoo]

#IranWar‌ #DXY #USDINR #Brent #WTI
The War in Iran started within a week of Paris Olympics concluding on Feb 22, 2026. FIFA World up starts on 11th June and end on 19th July 2026 in USA / Mexico. Iran is participant in the World Cup. J enters C on June 2 and goes🌞around 14th July (positive impacts pauses)... both timings are so correlated. Above all we are talking of 60 days ceasefire between Iran and USA to get through June 2 to Aug 2 (R enters D)... Gods own symphony :)

Also 2 months is one cycle time to and fro for most vessels / cargo ships stuck / rerouted due to hormuz issue. Also lifting force majuere clauses in most shipping, insurance and other contracts and assessing the damage done on the ground. It also allows USA to get through 250th Year celebration on July 4th without war fog, It allows Kevin Warsh FED to reassess and not hike... it allows SpaceX & Anthropic (important) to raise their funds through IPO if possible within the 2 month window!

[Ankit Madhwani @Tathastoo]

NDF at 94.33
USDINR

[Ankit Madhwani @Tathastoo]

All those thinking USDINR was in 2013 type crises (40% move) will be disappointed monday morning!
Over 100's Bn raised on Media + YouTube economists vide FCNRB/other Bonds 😀

RBI will rejoice for now
Would be keen to see when RBI starts buying again having given & committed massive dividend ahead to Govt
94.2/94.5
@mosesharding

[Ankit Madhwani @Tathastoo]

Epic 2025/2026:

USA saved Pakistan from Operation Sindoor May 2025

PAK mediated US-IRAN war to Truce
May - June 2026

Most consequential day in the life of a Paki after Independence 1947, Cricket World Cup 1992 and getting Nuclear 1998!

[Ankit Madhwani @Tathastoo]

Gold to Oil at 52 (4330/83)

[Ankit Madhwani @Tathastoo]

Gold to Oil still at 47 (4280/90), up from low of 40 (high of 85)
Gold falling with NDX due to dollar liquidity drain!
Brent hitting 87-90$ or NDX halting fall as new fed chair will instill positivity next week could trigger reversal!
CPI tmrw crucial, could also act as reversal trigger once rates have risen enough!
Iran deal must happen as CPI will hit hard otherwise

[Ankit Madhwani @Tathastoo]

Mythos will come back quick
They have to IPO anthropic to support US tech

[David Sacks @DavidSacks]

I’ve had a number of conversations with folks inside and outside government about the current situation with Anthropic, and here is what I believe to be true:

— As we know, Anthropic publicly released its Mythos class models earlier this week under the commercial name Fable.

— Fable is Mythos with guardrails. But if those guardrails fail, then you’ve exposed Mythos and its advanced cyber capabilities to people who shouldn’t have them. (Keep in mind that Anthropic itself widely promoted the idea that Mythos was a cyberweapon and needed to be regulated as such. They asked for government regulation of Mythos and championed the guardrails on Fable. If there is a vulnerability — big or small — it is Anthropic’s responsibility to patch.)

— A highly credible trusted partner of both Anthropic and the USG who was testing Fable came forward with a jailbreak of those guardrails. The Admin asked Dario to fix the jailbreak or de-deploy the model. Dario refused.

— In their blog post, Anthropic defended its decision by saying the jailbreak isn’t serious. That is not what the trusted partner and the USG believe; nor is that kind of minimizing language consistent with Anthropic’s brand as the AI safety company. It’s difficult to fathom how they could claim a jailbreak allowing operability of a cyber weapon could be defined as not “serious.”

— In the past, Anthropic has always said that safety must be top priority and taken super seriously. In this case, Anthropic prioritized the continued offering of the consumer model over safety.

— In reaction, the Admin issued the export control. The Admin did this reluctantly. It’s been very surprised that Anthropic hasn’t wanted to cooperate with a reasonable safety request (ie fixing the jailbreak issue). Anthropic’s reaction is very much at odds with their branding and ethos as a safe AI research community.

— The Admin’s hope now is that Anthropic remediates the safety issue, the export control is lifted, and Fable goes back into general release. The Admin wants all of this to happen as soon as possible. It is frankly bewildered that Anthropic hasn’t wanted to comply with safety requests that it previously said were its highest priority.

— Those trying to misdirect and tie this action to the prior DoW/Anthropic issues are wrong. The Admin values Anthropic’s technical capabilities and feels that this issue, while serious, should be easily resolved. The ball is in Anthropic’s court.

[Ankit Madhwani @Tathastoo]

let fable fix itself

[David Sacks @DavidSacks]

I’ve had a number of conversations with folks inside and outside government about the current situation with Anthropic, and here is what I believe to be true:

— As we know, Anthropic publicly released its Mythos class models earlier this week under the commercial name Fable.

— Fable is Mythos with guardrails. But if those guardrails fail, then you’ve exposed Mythos and its advanced cyber capabilities to people who shouldn’t have them. (Keep in mind that Anthropic itself widely promoted the idea that Mythos was a cyberweapon and needed to be regulated as such. They asked for government regulation of Mythos and championed the guardrails on Fable. If there is a vulnerability — big or small — it is Anthropic’s responsibility to patch.)

— A highly credible trusted partner of both Anthropic and the USG who was testing Fable came forward with a jailbreak of those guardrails. The Admin asked Dario to fix the jailbreak or de-deploy the model. Dario refused.

— In their blog post, Anthropic defended its decision by saying the jailbreak isn’t serious. That is not what the trusted partner and the USG believe; nor is that kind of minimizing language consistent with Anthropic’s brand as the AI safety company. It’s difficult to fathom how they could claim a jailbreak allowing operability of a cyber weapon could be defined as not “serious.”

— In the past, Anthropic has always said that safety must be top priority and taken super seriously. In this case, Anthropic prioritized the continued offering of the consumer model over safety.

— In reaction, the Admin issued the export control. The Admin did this reluctantly. It’s been very surprised that Anthropic hasn’t wanted to cooperate with a reasonable safety request (ie fixing the jailbreak issue). Anthropic’s reaction is very much at odds with their branding and ethos as a safe AI research community.

— The Admin’s hope now is that Anthropic remediates the safety issue, the export control is lifted, and Fable goes back into general release. The Admin wants all of this to happen as soon as possible. It is frankly bewildered that Anthropic hasn’t wanted to comply with safety requests that it previously said were its highest priority.

— Those trying to misdirect and tie this action to the prior DoW/Anthropic issues are wrong. The Admin values Anthropic’s technical capabilities and feels that this issue, while serious, should be easily resolved. The ball is in Anthropic’s court.

[Ankit Madhwani @Tathastoo]

Not good

[Shashank Mattoo @MattooShashank]

BREAKING: America refuses to apologise for U.S. Navy strikes that killed 3 Indian sailors

“The Secretary stressed that all commercial vessels should immediately comply with orders from U.S. forces..Violations of the U.S. blockade and illicit transport of Iranian oil with not be tolerated”

[Ankit Madhwani @Tathastoo]

Epic

[Parth prophecies @DC_aryavarta]

Something I discoved in 2012 & continued shating till 2017..

Unfortunately so many people started copying that i had to stop it.

Beauty is it failed only 3 times in last 34 years.

#juggelery_of_numbers.

[Moses Harding John @mosesharding]

Yes, it is possible if there’s no need to establish source of funds of the principal.

@RBI has gone bit overboard on building FC reserves (zero-sum post netting off the forward liabilities) to defer rate hike hoping that SoH be back to business as usual sooner than later!

[Ankit Madhwani @Tathastoo]

One more closer

[Shehbaz Sharif @CMShehbaz]

Amid ongoing intense mediation efforts by Pakistan, we are fully aware of incessant misinformation campaign being waged by those who want to sabotage the peace deal. Setting aside the noise, we can confirm that a final, agreed upon text of the peace deal has been reached and Pakistan is now working closely with both sides to finalize the next steps. Peace has never been this close as it is now.

@realDonaldTrump
@JDVance
@SecRubio
@SteveWitkoff
@SEPeaceMissions
@drpezeshkian
@araghchi

[Ankit Madhwani @Tathastoo]

#SpaceX IPO & Baltimore Bridge Collapse/ Rebuilding in 2024 in the USA

Space raises 75 Bn at 1.5 Tln valuation to get to space, moon, mars and put data centres out there! Phew!

In Reality, a critical transit bridge right here on earth that collapsed in 2024 is yet to be rebuilt and reopening expected only in 2030! Cost is hardly $5 Bn
Reality is different under the hood
https://t.co/gVnZXRI1Sd

@DC_aryavarta @Macro_Maniac_ @LukeGromen @vinitrahtod @RakeshPujara1 @mosesharding @kates_9999 @Gavekal @michaelxpettis @RohitashwT

[Ankit Madhwani @Tathastoo]

Crude knows it

[Seyed Abbas Araghchi @araghchi]

The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content.

In line with our responsible and transparent approach, all details will be shared with the public in due course.