The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Our politicians are squandering the future – the AUD says it all; it only buys around 67 US cents which is absolutely pathetic….If we had a small efficient government that focused on doing the right thing (rather than bending the knee to the WEF & UN) then the AUD would be trading above parity vs the USD.
2. Aussie bond market isn’t pricing in a rate cut from the RBA until May next year.
3. Legendary fund manager Stanley Druckenmiller has allocated 20% of his fund to short sell long dated US government bonds….He is betting that bond prices will collapse which would send interest rates surging higher….Druckenmiller is also very bullish GOLD.
4. An investor in my building that recently sold, said he got out because it was costing him $30K a year so couldn’t afford to hang on…..Over the coming years I think physical SILVER, PLATINUM & PALLADIUM ETFS are going to leave property for dead.
5. Vietnam now talking about nuclear….don’t miss this URANIUM bull market – she is going to be a beauty! BUY PDN, BOE, URNM and TOE which is a deep value specky.
ASX Market Update
ASX 200 down 138 points to 8205
The market copped a bit of a rinsing as bond traders pushed back their expectations of when the RBA will cut rates. You see, higher interest rates can lead to more money sitting in bank accounts rather than chasing stocks…..Fortunately for us, some of our core holdings held up pretty nicely. ETPMAG put on 0.81%, NEM dipped just 0.31% and SMR added 3.4% after reporting a solid quarterly.
Random Observation
I’d say 99% of people don’t know how strategically important SILVER is…..
The Day Ahead
- ASX 200 futures down 43 points
- BHP in US up 0.65%
- Newmont in US up 1.62%
- URNM in US down 0.7%
Movements affecting our resource stocks today (USD)
- Gold up 0.8% to $2760
- Paper Silver up 2.47% to $34.92
- Platinum up 2.39% to $1041 (train hasn’t left yet)
- Palladium up 2.83% to $1085 (either has this one)
- Copper up 0.69% to $4.38
- Brent Crude up 2.25% to $75.94
- Iron ore down 0.13% to $105.23
Asian Market Update
China up 0.54%, Hong Kong was FLAT and Japan fell 1.39%
Holey dooly – watch this….I mean it : click….
I wonder – how much SILVER, COPPER and ALUMINUM did they just chew through?
Global Market Update
US Market
DOW up 37 points to 42,970 (half hour to go)
How’s the spike in US debt?!??!….The Yanks are out of control. This money will never be paid back which means they have to inflate their way out via mega money printing. It is the greatest PONZI scheme of all time.
The worse the government becomes the better it is for our investments.
European Markets
Krauts off 0.2%, Poms down 0.14% and Frogs were FLAT
Oil majors BP and SHELL were only up slightly despite BRENT CRUDE rising 2.25%….BUY FUEL ETF on the ASX – it is CHEAP.
Key Market Summary
