Global tensions are ratcheting higher by the day, fuelled by the foolish policies of foolish leaders. Tit-for-tat trade wars and agendas that pander only to self-interest are jeopardising the global economy.
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Podcast: US S&P 500 challenging all time highs
Today we look at global equities rebounding strongly after what proved a mere one-day correction on the concern that long yields had backed up sharply earlier this week. We also drill down and look at a number of single stock stories and assess the prospects for AirBnB and Palantir IPOs. Commodities and FX highlights also in the discussion in today's call
Podcast: Rising US yields rip through gold and silver in chaotic move
The US 10-year yield was only up 6.6 basis points yesterday but the move was enough to set in motion a selling pressure so large that liquidity dried up causing a dramatic downside move across both gold and silver. Long duration assets such as technology stocks were also hit but not to the same degree and equities are generally bid this morning. We also talk US politics on back of yesterday's announcement from Biden that Kamala Harris is the vice president nominee.
Podcast: New S&P 500 all-time high in sight while gold tumbles
Equities are grinding higher today with a new all-time high in the S&P 500 in sight. The real action continues in gold which dipped below 2,000 earlier as real yields continue to climb a bit and traders book profits following the three-week surge. Oil continues to be range bound ahead of monthly oil market reports. Vestas' Q2 earnings this morning showing strong revenue generation and FY20 revenue guidance significantly above market expectations.
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