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
Market Quick Take - August 13, 2020
Equities stormed back higher yesterday, wiping away the wobble of the previous day that was likely inspired by the sharp backup in long US yields earlier this week. A solid US 10-year auction helped yields ease slightly lower. In Europe, the DAX managed a close back above the pivotal 13,000 level, even as EURUSD rebounded to 1.1800
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.