Not much doubt about market action today. The FBI lifting the pall over Hillary Clinton has S&P futures soaring 1.2%:
I have a standing rule not to invest into political outcomes so it makes no difference to me. But we have a clear indication of what’s going to happen if Hillary does win: risk on! Followed closely by a Fed hike.
Big Iron is up with Dalian. BHP is 1.4%, RIO 1.2%, FMG 2.3% and WHC 1%:
Big Gas was in for it today with the oil caning but no longer! WPL 0.2%, OSH 1%, ORG 1% and STO 2.4%:
Big Gold is getting caned as Trump safe haven longs puke. NCM is -2.5%, RRL -4.5%, IGO 4%, SBM -4% and EVN -5.7%:
Big Debt is soaring roughly 2%:
Even the Big Spruik is up today with the disgusting FXJ 0.6%, sullied MEA 0.6%, REA 0.6% and MGR 1.5%
A rising Hillary lifts all boats…
