Wrap

Most dealers not at work, but some market activity:

• [Turkish Lira fighting the bears. ]
• [Gold getting crushed, ]
• [Bitcoin imploding, but from recent highs, but the stockmarket equivalent, $TSLA, still rising]
• [Food and Ag. commodities doing well ]
• [Hydrocarbon complex mixed, but crude oil down to $45.52 after a strong …

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What I’ve been following on Twitter

You can follow me on Twitter. But don’t. I am not going to lead you anywhere interesting. I have, however, curated a few lists of people who know stuff. The full set is here. I have a few lists I’ve put …

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Wrap

The US is barely at work today, with dealers thinking more about cooking and eating turkey than trading the currency of Turkey.

Overall, market is risk neutral:

• Bitcoin flat,
• Most other currencies likewise,
• SPX totally flat,
• Energy down, but after a steep rally yesterday, other sectors flat, small upticks …

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Inflation talk

I am a great admirer of George Soros’s reflexivity theory. I don’t claim to fully understand it. Part of it is about our inability to fully understand anything, so this is covered by the theory. But the bit of it that I cling to is that …

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Another day, another vaccine candidate

Astra-Zeneca announced today that it too had a very effective vaccine against SARS-Cov2. Who knew that it’d be so easy? The market didn’t react much, and just ground higher. Maybe it would have been five percent lower if the announcement had not …

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Most mysterious market

It seems that JPM is totally bullish on equities.

We are certainly in a very strange world. A pandemic has trashed many visible parts of the economy: airlines, restaurants, hotels: i.e. mainly services. It has left most manufacturing, and large scale retailing (especially Amazon) not only …

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Great Reset

Twitter is up in arms about a plan by the Illuminati Fed Cabal to reshape the world to give them more control. I’m not totally convinced, but this inclines me to the view. You can read the conspiracy theory here. I signed up to Bitchute to get …

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Wrap

Finally, we had a risk off day.

All US equities were down. Rotation into value reversed. Yield curves start to tilt down. Global treasury yields go down. European equities relatively strong.

Monetary metals (i.e. Au, Ag, Cu) down. Energy up. Food up. No big changes.

No big news …

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Lyn Alden

Lyn’s Nov Newsletter is first class. It covers many topics from a technical discussion of the different measures of inflation to a political theory that comes pretty close to Marx’s ideas: Trends like this generally lead to rising populist politics on both the right and the …

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Eurodollar Futures

Most futures contracts are liquid out for a couple of delivery dates, maybe four or five if you’re lucky. The exception is Eurodollar futures (nothing to do with the Euro currency: just dollar deposits held by institutions outside of the US). They are liquid out for years …

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