geopolitical risks are not going away anytime soon...
Lockheed Martin $LMT soars to all-time high 📈 Source: Barchart
gold explained in one hashtag
Source: Wall Street Silver
Sometimes things come at you fast: MSCI China now outperforming MSCI USA year to date
Source: Louis-Vincent Gave, Gavekal
😱Yesterday's China equity market performance in one chart !!!
Below is a heat map of today's returns of the 2,230 stocks which belong to the Shanghai Composite index... Not a single one was down (the worst one was actually flat). And 10 stocks gained more than 20%... Source: Oktay Kavrak, CFA
STILL BREAKING 🚨 China Short Sellers
This just got exponentially worse for Hedge Funds shorting Chinese stocks! Source: Barchart
Fed Chair Jerome Powell just said the recent 50BPs interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive - CNBC
“Looking forward, if the economy evolves broadly as expected, policy will move over time toward a more neutral stance. But we are not on any preset course,” he told the National Association for Business Economics in prepared remarks. “The risks are two-sided, and we will continue to make our decisions meeting by meeting” The market currently thinks there's a 68.2% chance Jerome Powell and the Fed cut rates by 25BPs at the next FOMC meeting Source: CME FedWatch Tool
Deutsche: S&P 500 has seen its biggest YTD advance of the 21st century so far after 271 days of the year.
Equity markets continue to be carried on by a "magic combo": resilient earnings, a weak dollar, weak oil prices, lower bond yields, favorable macro background (growth surprising on the upside / inflation surprising on the downside), a dovish central bank pivot, and now fresh stimulus out of China. This helps the market "climbing the wall of worry", i.e US elections uncertainty,, Middle East tensions, yen carrytrade unwinding, etc. October is historically a volatile month. Let see if the sp500 can continue to rise in a straight line. Source chart: DB
JUST IN 🚨 : Extreme Greed returns to the Stock Market for the first time since March 🤑 🤑🤑
Source: Barchart, CNN
