The Good Morning Report – 1st Feb 2024

1. FED kept interest rates on HOLD with Jerome Powell saying a March rate cut is unlikely.…Markets rolled over on his commentary.

2. Aussie inflation came in a lower than expected 4.1%….Bonds are going to get thrown down the throats of unsuspecting Mum & Dads across the country after this news…Careful out there.

3. Credit Corp (CCP) owns a business called Wallet Wizard which lends up to $8K within the hour on an annualized interest rate of 47.8%….CCP are just a bunch of loan sharking grubs that prey on the vulnerable (although it does take 2 to tango)…. AVOID

4. GM is set to ramp up production of hybrids…I think we are beginning to see a pivot away from EVs ….BUY PLATINUM (ETPMPT) – it’s in deficit and is needed to make the catalytic converters that will go into hybrids.

5. I think that was the dip in Uranium…Market is very very tight, so prices could skyrocket – perhaps like what LITHIUM did in 2021/22….Maintain BUY on URNM.

ASX 200 up 80 points to 7680

Our market closed at a fresh record high after a softer than expected inflation reading had investors foaming at the mouth at thought of rate cuts. Most sectors finished in the green.

I personally don’t see the RBA cutting rates this year and I think we will see them hike at some stage, but at the moment the market has pure tunnel vision and is prescribing zero chance of a second wave of inflation…. I also think it is a very dangerous environment for mums and dads who are about to be sold BILLIONS and BILLIONS worth of BONDS in their Super, not knowing that the risks are flashing RED. A surprise spike in OIL prices would decimate BONDS.

Are there any renewable energy businesses that make money and can stand alone on their own two feet without generous taxpayer subsidies? GREEN = SCAM = AVOID

  • SPI is down 82 points
  • Bitcoin down 1.95%
  • BHP in US down 0.88%
  • Newmont in US was FLAT
  • Rio in London down 1.18%

Movements affecting our resource stocks today (USD)

  • Gold FLAT @ $2051
  • Paper Silver down 1.2% to $22.95
  • Platinum down 0.6% to $926
  • Copper down 0.5% to $3.88
  • Brent Crude down 1.4% to $81.71
  • Iron ore down 2.4% to $129.60

Japan up 0.61%, China down 1.48% and Hong Kong fell 1.39%

From the PBOC’s digital money printer to the property market…

DOW down 317 points to 38,150

The regional banking crisis in the US is back on. Overnight NY Community Bancorp which took over the failed Signature Bank, crashed 37%….I warned this would flare up again.

If you have deposits with this bank and saw this, what would you do?

Germans down 0.4%, Brits off 0.47% and Frenchies dipped 0.27

The CEO of Switzerland’s second largest bank, Julius Baer is set to quit due to exposure to the collapse of the Signa property empire….Remember how everyone used to think the Swiss were master bankers. LOL!!!


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