Crumbs
- Insanity in crypto continues. Dogecoin absurdly pumped by Musk.
- equities and bond yields move together (I guess that’s the much-derided “Fed Model”). There is a huge gap to close, when these two series are looked at over the longer term. The interesting thing is to speculate on which of the jaws will move, and which will not.
- Why making a vaccine is so hard. This is an excellent article, which describes the manufacture both of conventional and mRNA vaccines.
- Vice explains $GME short squeeze in a well-researched article. No, me neither!
Wrap
Basically, a risk-neutral day. Nothing moved very much, apart from Bitcoin, which is being pumped relentlessly by Elon Musk. DX is down, with GBPUSD and EURUSD both up approx 0.56%. Commodities are taking a pause, in spite of the weakening of the dollar. No consistent movement, although some largish moves (e.g. Cu up over 1%).
Tweets of the day
AWKWARD MOMENTS AT BIDEN, YELLEN MEETING WITH CEOS OF JPMORGAN, WALMART, AND GAP AFTER YELLEN ASKS THEM FOR $400K EACH UP FRONT IN GOLD OR BITCOIN - BBG
— Rudy Havenstein 🌊 Hot Rolled Steel. (@RudyHavenstein) February 9, 2021
AWKWARD MOMENTS AT BIDEN, YELLEN MEETING WITH CEOS OF JPMORGAN, WALMART, AND GAP AFTER YELLEN ASKS THEM FOR $400K EACH UP FRONT IN GOLD OR BITCOIN - BBG
— Rudy Havenstein 🌊 Hot Rolled Steel. (@RudyHavenstein) February 9, 2021
U.S. junk bonds hit 4% … their lowest yield ever.
— JonesyHODL (@HedgeyeDJ) February 9, 2021
And ever is a long time.
H/t @jtcrombie pic.twitter.com/BrgPhGT2xr
U.S. junk bonds hit 4% … their lowest yield ever.
— JonesyHODL (@HedgeyeDJ) February 9, 2021
And ever is a long time.
H/t @jtcrombie pic.twitter.com/BrgPhGT2xr
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