The Australian dollar is to the moon this morning:
Long-end bonds sold again:
Stocks to the moon as well:
Big Iron is up:
Big Gas is up:
Big Gold is up:
Big Banks are up:
Only Big Tech is down as ASIC mulls slapping the wet lettuce on BNPL:
More value rotation then. We’ve got the Fed and more vaccines this week even as the US begins to shut down and fiscal drains away.
It’s a post-risk world.
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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Commodity supercyclers begin to squirm
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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
I thought ASX is down.. like an outage down.
It is.
Yeah, not quite to the moon, more like some geostationary orbit.
Flat-lined……. people realised slapping lipstick on a dead-un wasn’t really on
“Long-end bonds sold again”
Thank goodness our mini-me RBA is there to defend Strayan pride by buying every bond in sight – as it turns seriously Japanese.
You really think so?
https://www.youtube.com/watch?v=1Zeg3CgPnYQ
ASX Keeper to be announced soon.
It already has been but they called it the Treasury Funding Facility so it doesn’t sound like corporate welfare.
But it is the ultimate corporate welfare – our best-ever LNP gubmint, via its lapdog money printing workshop, socialising losses again?
US futures look like they’re topping
tab outed last week, asx today… coincidence?
Not really they’re essentially the same business – a betting shop.
ASX_Bets is comedy gold today!
https://www.reddit.com/r/ASX_Bets/
How long can this bubble go before something nasty happens:
From their closing prices on Friday October 30th, 2020 (in only 8 trading days), this list of selected equity indices, commodities and currencies have produced the following returns.
Spain’s IBEX 20%
France’s CAC 20%
Italy’s MIB + 16.2%
KBW (U.S.) Bank Index 15.8%
Germany’s DAX 14%
The U.K.’s FTSE 13%
Russell 200 (small cap) 12.9%
Russia’s MOEX 12.8%
MidCap 400 11%
Singapore’s Strait Times 11%
Japan’s Nikkei 10.1%
Hong Kong’s Hang Seng 9%
DJ Transports 8.9%
Australia’s ASX 200 + 8.8%
India’s Nifty 50 8.6%
S&P 500 8.4%
HSCEI 8.3%
Korea’s Kospi 8.2%
Nasdaq 6%
Shanghai Composite 3.8%
Gold in USD 0.2%
Gold in AUD (3.7%)
Lumber 17%
Heating Oil 16.7%
Brent Crude Oil 16.2%
Corn 7%
Iron Ore 5.2%
Platinum 5%
UK 10 Year (10’s) Government Bond Yield +52%
Australian 10’s yield +19%
Canadian 10’s +16.7%
U.S. 10’s +12%
and currencies;
AUD 3.8%
NZD 4%
Bitcoin + 13.6%
Until the central bank elephants stop rampaging and JPM/Goldman/Robinhooders etc stop believing in the pot of gold at the end of rainbows, earthquakes, tornadoes, cyclones or even the world ending suddenly, we apparently have stock and asset nirvana……….. forever.