This is a very concerning development
Bonds have broken down from a +40 year uptrend
While a bounce is likely based on:
- Technicals
- Potential rate cuts
High levels of debt + inflation are likely to lead to more downside for bonds this decade
Good Morning from #Germany, where all German stocks are now worth less than Nvidia. Germany's stock mkt value is just ~$2.5tn, Nvidia's value is $2.62tn. This week, Nvidia has gained $348bn in value, the combined value of traditional comps Siemens, Deutsche Telekom, and Mercedes.
JUST IN: Gold prices rise to a new record high of $2,450, now up 23% in just 3 months.
Gold prices are now up 35% since October, even outperforming the S&P 500's gain of ~29%.
As geopolitical tensions in the Middle East continue to escalate, gold is being viewed as the global safe haven asset.
Meanwhile, world central banks set another all-time record for gold net purchases in Q1 2024.
How high can this go?
I see a lot of hatred in the fintwit. It's beginning to look like a hated rally.
FED, bond yields, CPI, PPI, PMI, Fundamentals, TAs, and even geo-politics don't matter in this market.
Only liquidity & sentiment matters. And Liquidity are still abundant! #BTC
Regardless of your outlook, saying the economy is ‘nowhere near a recession because the unemployment is so low’ goes against history of unemployment rate always near (or at) its lowest right before recession starts
Powell is NOT CLEAR ENOUGH. If he wants to, he can kill the market, but he's not being clear on the policy on PURPOSE. He knows inflation is coming down on its own, so keeping the markets afloat is the soft landing he wants.
Recently, the BLS reached out to me and others to help them fix their job market report methodology.
You now see why.
These population and seasonal adjustments are a complete mess.
1/ It's time to fight the bear and launch the next big crypto project.
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Past 24 hours:
ELON MUSK: “.. the Fed is at risk of crushing the value of all equities, quite a serious danger.”
BARRY STERNLICHT: “If Powell keeps hiking rates, .. he risks the entire financial stability of the [global economic] system.”
@CNBC