Policy panic rockets stocks

Monday 6 November 2023

The Market Ear kicks us off

The extreme golden week of gains

All five days were higher this week for both SPX and NDX and it was the best week for both indexes this year. The Russell 2000 had its best week in 2.5 years. VIX (-30%) had its biggest weekly plunge since Dec 2021 (9th largest weekly decline in history). Can this continue? Is this a real or a fake Santa? Let’s dive in.

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About the author

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.