Featured Story
The last few months have seen the dollar dive and crypto thrive…
Source: Bloomberg
And the last few days have been no different…
Source: Bloomberg
With bitcoin helped overnight by the Koreans (the Kimchi premium tagged zero then soared)…
Joe Lonsdale, Palantir co-founder explained succinctly why crypto is performing so well (and perhaps why the dollar is not so much)…
“Bitcoin is a bet against a centralized financial system run by crazy people… it is a bet that the emperor has no clothes.”
Echoing Kyle Bass’ infamous comments about gold from a decade ago…
“Buying gold is just buying a put against the idiocy of the political cycle. It’s That Simple”
For now, it seems the market has a preference for one over the other (or one is being suppressed, take your pick)…
Source: Bloomberg
Although the last week or two have seen that swing back the other way a little…
Source: Bloomberg
Away from that malarkey, Small Caps outperformed Big-Tech for the 4th straight day as all major US indices but the Dow managed gains today…
At 1530ET, all hell broke loose in stock land with a sudden, massive-volume puke that came out of nowhere…
This was a major sell program…
TSLA (whose earnings are tonight) went just a little bit turbo during that period too (ARKK was up over 3% today)…
DISCA (think Archegos) surged during this broad index puke.
After stopping perfectly at January’s lows, Small Caps have surged higher relative to Mega-Cap DJIA in the last week or two…
Source: Bloomberg
Growth outperformed Value today
Source: Bloomberg
Despite equity gains, Treasuries ended the day practically unchanged…
Source: Bloomberg
10Y Yields remain in a very narrow range…
Source: Bloomberg
Bitcoin wasn’t the only crypto to see a huge rebound. Ether surged from below $2200 to over $2500…
Source: Bloomberg
ETH is hovering near its highs relative to BTC from February…
Source: Bloomberg
After Friday’s clubbing, (and this morning’s smaller slam), gold managed gains on the day…
Oil prices ended lower, despite a wild intraday swing…
Finally, the price of agricultural commodities is literally exploding…
Source: Bloomberg
“Transitory” of course!
And financial conditions have never… ever… been this easy…
Source: Bloomberg
How much longer are you going to enable this Mr.Powell? Perhaps Mr. Lonsdale is right – “crazy people” are running the system.60
Don't Miss
Krieger: “It’s A Systemic Looting On A Massive Scale”
The United States has historically bragged about its free and transparent markets. But what the Fed is doing today is pulling a dark curtain around…
Global Markets Hit All-Time High As Traders Brace For “Phase Two” Optimism
This is where we stand as we enter Monday morning: European markets are firmer this morning, though the FTSE 100 significantly outperforms on a second-wave…
Election Apocalypse: Investors Fears Very Negative Event a Year From Here and Are Placing Bets to Hedge Themselves
The stock exchange is somehow similar to weather forecasts. You never know what’s going to happen but it’s better to plan ahead and be prepared…
It’s D-Day For The Repo Market: On Monday $100 Billion In Liquidity Will Be Drained – What Happens Next?
Last week’s apocalyptic report by repo market guru Zoltan Pozsar, which for those who missed it predicted that an imminent market crash and loss of control of…
The Destruction of Civilization
Implications of extreme monetary interventions When I was asked to write an article about the impact of negative interest rates and negative-yielding bonds, I thought…
