Not much to report on Friday's overnight US trade other than the DOW was up 0.33% while the NASDAQ was down 0.39% with the SP500 essentially flatlined (down slightly) at 0.13%
Basically the US has moved on from Shanghai's Money Drop!
But let me pose this question. So if US macro growth data is surprising to the upside, and macro inflation data is surprising to the downside...
Source: Bloomberg
Does that look like an environment that needed a 50bps rate-cut? Or that needs 75-100bps more by the end of the year?
Perhaps this is why gold and bitcoin is rallying hard?
Source: Bloomberg
US Sovereign risk exploding higher...so did The Fed cut rates to rescue the Treasury and ensure Kamala the Presidency??
Have a Good Weekend.
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