The Australian dollar is gapping higher this morning on the Biden euphoria:
Bonds have sold a little too:
Stocks have broken out of their bullish ascending triangle pattern:
The recent month of value rotation is going into reverse as deflation returns with the Republican senate. Real assets are soaring. Big Iron is up:
Though Big Gas is down and is in trouble as the Iran oil gusher warms up for a return:
Big Gold to the moon:
The biggest victim is Big Banks which are wandering aimlessly without a steepening curve:
While growth is back with the tech bubble:
As the virus guts the Atlantic economies all over again, this time without enough fiscal support, we’ve returned to central banks and deflation assets with a bullet.
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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Commodity supercyclers begin to squirm
For the last few months, MB has had to battle a
Macro Morning
Risk markets remained upbeat again overnight but
Macro Afternoon
Its not quite fully risk back on yet, although
Morgan Stanley: We're passed "peak Fed"
Morgan Stanley with the note. Rate of change is
Weeeee!
Pooooo! 😉
Rorkes Drift.
Ouch!
Dorkes Rrift
Do you mean the $10K punt?
I prefer to lose my money on the ASX! 😉
I thought it was $25k?
Maybe it was, not sure now…
He did. He said it was a paired trade with short BBUS
Time to swallow losses and go long for….errr….days….weeks…months….dunno….!
Welcome to opposite land!
I thought he was bad for markets? Sounds like the Aussie housing market – any news is good news. Nothing a few more rate cuts can’t fix.
Nobody knows. I thought a pandemic with +1m deaths would be bad.
Ian Verrender on QE and its effects: https://www.abc.net.au/news/2020-11-09/why-stocks-and-housing-are-booming-through-coronavirus-recession/12862022
Gold to the moon a’right! to sell or not to sell