AUD is taking some hits this morning:
Bonds are calm:
XJO gapped lower 2.5%. It will get more interesting technically if break into the 5800’s:
Big Iron is hit:
Big Gas more:
Big Gold is up:
Big Banks are still trending lower:
But the real action is in the credit regulatory arbitrage sector with huge moves now daily:
Nobody knows if this is the bust. We can only say that conditions are perfect for it.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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Red… the colour of danger… like blood.
Color Of Danger (1970)
https://www.youtube.com/watch?v=Ix7Oqn0PAKc
Possibly the best training video ever made.
Two things last night……the manipulation in the unemployment figures was too blatant in the US
https://wolfstreet.com/2020/09/03/big-setback-for-the-unemployment-crisis-week-24-of-u-s-labor-market-collapse/
And the China mouthpiece was menacing a real sore point
https://twitter.com/globaltimesnews/status/1301600856819851265
lol at Xitler
lol indeed the Xitler reference is great!
worries at US deficit LOLs
Donald love Xi for reducing this, well he would if he understood it
Solid wobble.
It’s interesting because even the most steely balled trader might cash out soon due to knowing how the recent gains are built on sand. Chain reaction will not be hard to start.
Nah buy the dip- always works…….until it doesn’t but even the worst case scenario isn’t that bad……oh wait…..
One shot in a revolution
One drop from a poison pen
[…]
One cruel and callous lover
One blow below the belt
One chance without another
One heart too cool to melt
One kid that needs some action
One link in a chain reaction
The farewell tour can last longer than you can stay solvent.
Gold!
Cash out, but go where? Back to dollars that are gushing from the Fed printer – out of the frying pan and into the fire, for mine.
How about commodities and inflation-friendly trades? That’s the ticket 😉
It’s interesting the choices for sure.
I’m all cash for now with decisions pending. I thinking inflation is 12 months off but there are bloody strong deflation factors at play too.
There are no deflation factors where the USD is concerned but the AUD is not being printed to b#ggery in quite the same way (yet). Nonetheless inflation will be problematic next year for everyone.
For now, I’m staying liquid as there is not enough facts to draw a solid conclusion on direction.
Stocks Vs Gold Vs Silver Vs property Vs Bonds
“For now, I’m staying liquid as there is not enough facts to draw a solid conclusion on direction.”
Fair call. Hyper-inflation is not a risk so being in cash gives you options for sure.
I’m 25% in market, 75% cash I feel ok about it right now. The printers are still going BRRR.