Charles-Henry Monchau

Chief Investment Officer


 PDF


 

WEEKLY SUMMARY: Bullion, Bitcoin & Banks soar as Trump win odds rise

US equities recorded another week of gains. Banks were big winners this week while Energy stocks pulled back in sympathy with oil prices, which retreated as fears of possible Israeli attacks on Iran’s oil and gas infrastructure subsided. The small-cap Russell 2000 Index and the S&P MidCap 400 Index outperformed large-caps.  After lagging for much of the week, the Nasdaq Composite rallied during Friday’s trading session. Strong quarterly results from Taiwan Semiconductor Manufacturing boosted AI-related stocks. The Nasdaq also received a lift from Netflix, which grew its subscriber numbers and expanded its operating margins by more than expected in the third quarter. On the Macro side, US retail sales and weekly jobless claims surprised positively while industrial production dropped 0.3% in September after increasing 0.3% in the preceding month. US Treasury yields ended only marginally changed with the long-end modestly outperforming. In Europe, both the ECB and the Bank of England cut rates, as expected. Both EU and UK inflation numbers for September were lower than thought. The STOXX Europe 600 Index ended 0.58% higher while the Nikkei 225 Index was down 1.58% over the week. The Shanghai Composite Index gained 1.36% as the central bank unveiled more support measures- Although the dollar rose (back to July level), Gold ripped above $2700 for a new record high this week while bitcoin hit $69k. Both seem to be boosted by rising odds of a Trump victory and a Republican sweep. 


Have a great week-end

Charles for the team 
 
 
 




 

Disclaimer

This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document.

Read More

Straight from the Desk

Syz the moment

Live feeds, charts, breaking stories, all day long.

Thinking out loud

Sign up for our weekly email highlighting the most popular posts.

Follow us

Thinking out loud

Investing with intelligence

Our latest research, commentary and market outlooks