The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. China and Brazil have reached an agreement to do all trade in YUAN and REAL, completely bypassing the USD; $159bn worth of trade was done between the two countries last year....We are witnessing the biggest shakeup in the FINANCIAL WORLD ORDER since President Nixon abandoned the GOLD STANDARD in 1971.....I'm telling you - these are HISTORIC MOMENTS!!!
2. Great news...Regis (RRL) got final approval for its McPhillamys Gold Project which is located 250km west of Sydney. This is a big win for shareholders - very surprised RRL only rallied 5%. BUY last sale $2.00
3. Traders have built a decent size short position in OIL futures, so wouldn't be surprised to see a surge higher (short squeeze) sometime soon.
4. Iluka (ILU) is a dominant force when it comes to mineral sands - therefore it would make strategic sense for one of the majors to take it over. BUY
5. This is no joke...almost 20% of all office space in the USA is empty.
ASX Market Update
ASX 200 up 72 points to 7122
Resources, Industrials and Financials all finished in the green after a positive lead out of Wall Street.
There is all sorts of funny buggers going on with Mincor (MCR) at the moment. Twiggy is trying to buy the company for $1.40 per share, but he could pull out as MCR management announced BHP all of a sudden has a problem with the quality of its nickel ore it is getting, so they have been forced to withdraw production guidance - see below....It's a hard call because even MCR don't know what is going on....To keep the nickel exposure, a switch to PAN could be the way to go.
YIKES!!!....Almost 20% of US offices space is empty.....this could get real nasty.
In total, $432 billion CRE debt is maturing now through 2025.— Joe Consorti ⚡ (@JoeConsorti) March 28, 2023
Assuming an outsized portion of these loans default, lender's debt assets will be worthless.
And WHO are the most prominent lenders?
Regional banks — the ones that are already experiencing bank runs and failing pic.twitter.com/XKkyi8LTG4
The Day Ahead
- Our SPI is up 41 points
- Bitcoin down 1.5% to $27,138
Movements affecting our resource stocks today (USD)
- BHP in the US up 3.46%
- Gold up 0.75% to $1999
- Paper Silver up 2% to $23.95
- Platinum up 2% to $996
- Copper up 0.55% to $4.10
- Brent Crude up 1.2% to $79.22
- Iron ore up 1.9% to $125.15
Asian Market Update
Japan down 0.36%, Hong Kong added 0.58% and China put on 0.65%
These are HISTORIC moments!!....Most people in the WEST don't understand or even know what is going on.....GOT GOLD?? GOT SILVER???GOT PLATINUMUM????....Let's GO!!!
Brazil and China sign pact to abandon dollar
— RT (@RT_com) March 30, 2023
Global Market Update
DOW up 141 points to 32,859
So while China is cutting HISTORIC deals to bypass the USD, the US Treasury Secretary - Janet Yellen is telling congress that climate change is an existential threat. Perverse part is - the GLOBALISTS policies are designed to trash the environment, create rampant inflation and leave you poor while they swan around the world in the lap of luxury....We live in Orwellian times:
U.S. Treasury Secretary Janet Yellen: “Climate Change is an existential threat.”
— ALX 🇺🇸 (@alx) March 29, 2023
Brits up 0.74%, Germans added 1.26% and Frenchies put on 1.06%
Shares of clothing retailer H&M popped 17% on the back of a profit result that smashed expectations.
Key Market Summary