The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. US stocks rallied on the back of weak manufacturing data….Quite often bad news can be treated as good if it means a potential rate cut.
2. Macquarie Bank (MQG) is immediately ceasing all new AUTO loans…Imagine the negative equity in EVs right now….If you get offered to invest in a high yielding ‘income opportunity’ backing Auto Loans, I suggest you run! Financial institutions are going to want to dump as much of this crap onto Mums and Dads before the cleanout hits. Don’t become a victim.
3. The US Military has been kicked out of Niger and China has come to the rescue with a $400mil loan to tie the ruling junta over for a while. And surprise, surprise – Niger just happens to be a globally significant URANIUM exporter. The game is just getting all too easy for the Xi Man these days!
4. First Sentier is shutting down it’s Australian bond funds and handing back $14bn to investors….The storm is coming.
5. Biden just announced $7bn in grants for SOLAR…..Hilarious that investors are selling SILVER with this kind of bullish news. SOLAR BOOM = SILVER BOOM.
ASX Market Update
ASX 200 up 28 points to 7676
ENERGY, GOLD & SILVER sold off while money found it’s way into Industrials, Financials and Tech. The clear distinction between the price action in these assets classes is something I’m pretty excited about. Therefore I will take yesterday as a BIG WIN despite seeing the value of our portfolios fall! Yes, I know that sounds crazy, but it really isn’t……..Anyway – enough of that….check out what happened in Zimbabwe as it switched over to the ZIG which is it’s new GOLD backed currency. YIKES!!!…We are going to live through profound change in global financial system – do you realise that?
Random Observation
Do you think that investors who are scrambling to sell their SILVER know about this?
The Day ahead
- ASX SPI 200 is up 25 points
- Bitcoin up 0.5% to $66,725
- BHP in US was FLAT
- Newmont in US up 0.44%
- URNM in US was up 0.8%
Movements affecting our resource stocks today (USD)
- Gold down 0.34% to $2338
- Paper Silver up 0.42% to $27.36
- Platinum down 1.2% to $920
- Palladium up 1.2% to $1028
- Copper down 0.9% to $4.43
- Brent Crude up 1.6% to $88.41
- Iron ore down 3.2% to $112.30
Asian Market Update
Japan up 1%, Hong Kong added 1.77% and China dipped 0.67%
I wouldn’t bet against China and the Xi Man (watch the clip below)….I would however, bet against the QLD government – it is going to take them 3 or 4 years to build a basic tram line on a flat road from Broady to Burleigh!
Global Market Update
US Market
DOW up 253 points to 38,239
Market is treating this risk as a nothing burger….
If the US does follow through, then I see China ramp up the sell down of it’s US government bonds and pile the proceeds into GOLD….It will be a ‘self goal’ for the yanks.
European Markets
Germans up 1.55%, Brits added 0.26% and Frogs put on 0.89%
Investors poured in European stocks on hopes of rate cuts. The FTSE, DAX and CAC closed at record highs…..Markets are melting up!
