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  1. Georgia on my mind

    New Yorker Cartoon ‘Lockdown hasn’t been all bad — it’s made me focus on what I really want out of life.’

    Crumbs

    The Daily Shot today has some lovely charts.

    • DXY is testing levels it last reached at the start of 2018: 40366262d72f1676257a3842c31021ad.png
    • bitcoin is blasting into space:

    b9cd2040d7729458d69c77951f280471.png - TIPS investors see inflation coming …

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  2. The Fed, inequality and inflation

    Crumbs

    • Investment grade debt ($LQD) suffering outflows. (Daily Shot),
    • every major currency has appreciated against the dollar this year. Since the nadir of Covid, the AUD has done best: a proxy for CNH, no doubt. Worst has been JPY. The NOK, SEK, NZD, MXP SKW and SAR have done pretty …
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  3. 6 Nov and still no Presidential Election Result

    Chart of the day

    This is the 30-year Breakeven Inflation Rate: i.e. the average CPI rate which would make an investor indifferent between holding 30 year nominal gilts and 30 year TIPS. The rate is still below the target rate of 2%, but it’s approaching it at a …

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  4. Bonfire Night and still no US Presidential Election Result

    Election grinds on

    Nobody really knows who will be the next president. Whatever happens, Trump-like policies will continue to find support, amongst Republicans, and amongst the population. The years of wrangling over Brexit is a template for what will come. Only Covid could stop Britons arguing about it. I wonder …

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  5. Biden and Trump slug it out

    Who will be the next POTUS?

    It’s morning in the UK, and it’s too close to call. Biden has 220 EC votes, Trump 213. Biden has done much less well than expected, and could still lose. It still seems hard to believe that the Dems could put up …

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  6. A new months begins

    Markets today

    Everyone is focussed on the presidential election. It’s an extremely ugly slow-motion car crash. It seems unbelievable that any good will come of it, but somehow within a week or so at max (surely?) we’ll know the result. The markets seem to have risk off fatigue …

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  7. Markets Update 2nd Nov

    Markets today

    Everyone is focussed on the presidential election. It’s an extremely ugly slow-motion car crash. It seems unbelievable that any good will come of it, but somehow within a week or so at max (surely?) we’ll know the result. The markets seem to have risk off fatigue …

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  8. Dexamethasone Delirium

    Tweeting Trouble

    Trump is trying to row back his threat to abandon talks on stimulus measures with the Dem-controlled Congress. Markets went up. As always.

    Kamala Harris & Mike Pence had a dull debate. The polls seem to think that Trump is doomed. I wouldn’t write off the brute yet …

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