So Australia's economy grew just 0.2 per cent over the December quarter, and 1.5 per cent over the year according to the ABS which was lower than the increase in population meaning that economic activity per person fell again! So we're in a per capita recession and those dummies over at the RBA should be thinking now when they'll be cutting rates when they next meet-up.
US Bonds, big-tech, bitcoin, and bullion all rallied today as the dollar dived after disappointing jobs data and a no-less-hawkish Fed Chair Powell.
This lead to a new record high for spot gold prices as the USD dived on a small % rise in rate-cut expectations.
All the US Majors managed gains on the day but were well off the highs with The Dow lagging and Nasdaq and Small Caps leading...
Source: MarketWatch
After yesterday's insane day in crypto, Bitcoin recovered a lot of its crash-from-record-high losses, back above USD$67,000...
Source: Bloomberg
Which should not be total surprise given yesterday saw MASSIVE net inflows into BTC ETFs...
Source: Bloomberg
Not only are they HODLers they are rabid BTFDfers...
While massive amounts of money are still flowing into these listed BTC ETF's Bitcoin will be well bid for the foreseeable future.
Blackrock's IBIT is now over a USD$10bn ETF!!!
Finally, New York Community Bancorp was a total shitshow and deserves a section of its own. From USD$3.20 close to $1.70 lows... then former Treasury Secretary Mnuchin and his hot wife stepped in at USD$2 and the stock ripped up to $4.40... only to sink back basically to unchanged...
Source: Bloomberg
NYCB share price did not extend gains on the news or the cover? We're gonna need a bigger boat!
Happy Thursday!
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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.
