It seems the market is now transfixed on the election... and the bets are one-way...on Trump...
Source: Bloomberg
Prediction markets are soaring in Trump's favour and even the polls are swinging higher now...
Source: Bloomberg
Overall the majors spent most of the day under-water but an afternoon drift higher lifted Nasdaq and The Dow into the green for the day but a very late-day selloff spoiled the party.
The US dollar continued its charge higher - albeit only modestly today while another record high for gold, trading within cents of USD$2750.00
But time to be a bit cautious on Gold's recent run?
Source: Tks Kerry for sending this chart!
Bitcoin went nowhere fast overnight, with Bitcoin chopping around USD$67,000...
Finally, as gold accelerates, global liquidity (proxy by global M2) has turned down.
Source: Bloomberg
...but bitcoin has only just started to catch up with the tsunami...
Source: Bloomberg
Maybe the smart trade is the continued inflation trade? Stay long Gold, Bitcoin and ridiculously under owned commodities?
Happy Wednesday!
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This information contains unsolicited general information only, without regard to any individual’s investment objectives, financial situation or needs. It is not specific advice for any particular investor or trader. Investment in the stock market involves risk.
This information may not take into account your investment objectives or financial situation, and you should obtain advice based on your own individual circumstances before making an investment decision.
This information is made available to you by ANDIKA Pty Ltd ABN 41 117 403 326, a licensed securities and derivatives dealer (AFSL # 297069).
Andy is the founder of ANDIKA Pty Ltd, a licensed securities & derivatives dealer. He's the author of fiction and non-fiction books and has been a University lecturer on risk and investment.
