FX Update: USD slips lower again. TRY focus for EM.
Yesterday saw record highs for gold and tech stocks and a record low for US treasury yields for 2-year and out to 10-year benchmarks, with a weaker US dollar clearly helping things along. In EM, the focus is squarely on the Turkish lira as USDTRY poked above the 7.00 level that Turkey has been trying to defend of late.
Podcast: Record highs all around
Today we look at new record highs for gold, the Nasdaq 100 index and even US treasuries and ponder the drivers, correlations and perhaps the sense of cognitive dissonance as well from these developments. A look at the Turkish lira risks, individual equity stories and much more in the call today.
Macro Dragon: Gold +$2000, BYND +6%, NKLA +6% & Not the Pièce de Résistance
Macro Dragon = Cross-Asset Daily Views that could cover anything from tactical positioning, to long-term thematic investments, key events & inflection points in the markets, all with the objective of consistent wealth creation overtime.
Podcast: New highs for US stocks, NatGas rips higher
Today we look at US equities pulling to new highs for the cycle, while volatility indicators continue to signal a reluctance to wax too complacent. Europe also posted a solid comeback yesterday after recent weakness. We also look at enormous price hop in Natural Gas yesterday in the US and possible takeaways of interest for future inflation, take status of the US dollar, check in on the strength of various equity themes and much more.