The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. The two biggest investors in the US GOVERNMENT BOND market are China and Japan, but both countries are selling down....So who is going to FUND the USA into the future? The FEDERAL RESERVE is who - money printing will have to start back up sometime this year.
2. The SHORT position in TESLA has spiked after its strong recent rally. Now about 130 million shares short or 5% of the company.
3. By the end of March we will start seeing a heap of fixed 2 year home loans mature - going to be a quite a nasty shock for those not prepared.
4. BHP is going to be shutting one of its COAL mines in NSW earlier than expected due to government policy....I predict COAL prices to stay strong for years to come as bringing new supply on becomes just about impossible.
5. Iranian Central Bank wants GOLD coming in by any means possible....Think OIL for GOLD.
CENTRAL BANK of IRAN:— Tehran Bazaar (@TehranBazaar) January 29, 2023
🔴Letter of credit for gold import was removed
🔴Importers can import #gold using all methods and means of payment.
🔴 Restriction on use of importer's forex for importing gold were removed
🔴 Registration of the SANA system changed https://t.co/P0gxJFWE8s pic.twitter.com/OqHfJziEVl
ASX Market Update
ASX 200 down 12 points to 7481
Bit of a sleepy session on the ASX....Rare earths miner Lynas (LYC) was the best performer (+6.7%) after posting a solid quarterly production report and giving bullish commentary on the state of demand for its commodities (existing shareholders should continue to HOLD - what a cracker this stock has been!).....Sleep disorder company, Resmed (RMD) was the worst (-6.8%) as the market wasn't overly excited about its quarterly report.
Don't be fooled by Jim Chalmers goofy sort of appearance, he is a FASCIST - pure and simple....They are now saying the quiet part out aloud.
Jim Chalmers is pledging greater government intervention to radically remake post-pandemic capitalism by redesigning energy, finance, labour, and social services markets.https://t.co/VXReQVwEzP
— The Australian (@australian) January 28, 2023
Jim's agenda is straight from Klaus Schwab's World Economic Forum.
The Day Ahead
- Our SPI is down 9 points
- Bitcoin down 4% to $22,764
Movements affecting our resource stocks today (USD)
- BHP in the US down 0.3%
- Gold down 0.39% to $1921
- Paper Silver up 0.25% to $23.68
- Copper down 0.88% to $4.18
- Brent Crude down 1.8% to $85.08
- Iron ore up 0.3% to $123.08
Asian Market Update
China up 0.14%, Hong Kong down 2.7% and Japan up 0.19%
The Chinese are on the move; can't be too far off till we see big numbers hitting our shores.
Holiday travel spending soars 30% after Beijing dismantles zero-COVID curbs.https://t.co/2cmOydbBHS
— Nikkei Asia (@NikkeiAsia) January 30, 2023
Global Market Update
DOW down 260 points to 33,717
Tech stocks were hit overnight which pushed the NASDAQ to finish around 2% lower....Tesla gave back some gains and fell 6.7% as short sellers piled in hard.
FTSE up 0.25%, DAX dipped 0.16% and CAC down 0.21%
European traders didn't do much overnight as many wait on the sidelines with the US FEDERAL RESERVE'S 2 day interest rate meeting starting later tonight (our time).
Key Market Summary