The AUD is down this morning. The hot money bet appears to be a weak jobs report:
Bonds are bid and XJO is off yesterday’s gains:
Big Iron is ignoring Dalian fireworks:
The Big Gas value rotation has flamed out:
Big Gold ouch. All the more so given BTC:
Big Banks are mixed:
Big Tech fading:
Virus damage is mounting, killing off inflation and stalling value. I’ll BTFD if we get decent puke.
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.
Latest posts by David Llewellyn-Smith (see all)
- China shoots self in foot with coal blockade - November 26, 2020
- CS: One more virus bust for the road - November 25, 2020
- Fu Ying might be the most dangerous woman in China - November 25, 2020
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Macro Afternoon
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CS: One more virus bust for the road
Via Credit Suisse: Consistent with our message
Goldman: It's the Roaring '20s redux!
I am always septical of the Squid. But I also
Macro Afternoon
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Not looking pretty…
I bought some more hedges today…
Wish gold would stop sucking – it’s got me thinking about going FOMO on BTC! 😛
Given how easy it is to make a vaccine to the virus as even the Russians and China can make one, I would say that the virus mortality is no longer important to the market.
If anything, the longer the virus lingers around, the more shutdowns, leads to more Fiscal and monetary stimulus and therefore more of the same of what we have seen in the past 5 months.
Asset prices to the moon!