If one ignores dividends gold has been able to keep up with equities since Nixon ended things in 1971.
Source: Michel A.Arouet, Bloomberg
BREAKING: Japan's core inflation accelerates to 2.8%, the first increase in 4 months.
Japan's core inflation has now been above the Bank of Japan's 2% target for 23 consecutive months. Source: Win Smart
Here are the Equally-weighted Nasdaq100 and S&P500.
If these two are above their former cycle highs, it's hard to be too bearish on this market. Source: J-C Parets
Crude Oil is approaching a Golden Cross formation with an upward sloping 200D moving average.
The last Golden Cross sent Crude Oil soaring to its highest price since August/September 2022. Source: Barchart
It took Gold ETFs 5 years to cross $50 Billion AUM.
Bitcoin did it in 57 days. Source: Bloomberg, Wells Fargo
us households equity allocation is at record high
Source: Goldman Sachs
The worst seems behind the economy.
This is indicated by the Ifo Business Climate Index, which has jumped to 87.8 in March, highest level since June 2023 vs 86.0 expected. Current conditions rose to 88.1 in March from 86.9 in Feb, Ifo business confidence to 87.8 from 85.7 in Feb. Suggests that we could see a recovery as households begin to spend their real income gains. Employment is robust and nominal wage growth comfortably exceeds inflation again. There could be some green shoots in the export sector, and even the deep slump in construction may have bottomed out. Source: Bloomberg, HolgerZ
China scrutinizes PwC role in $78 billion Evergrande fraud case
Chinese authorities are examining the role of PWC in China Evergrande Group’s accounting practices after the developer was accused of a $78 billion fraud, ramping up pressure on the global accounting giant that audited a slew of developers before the sector’s meltdown.
Source: Bloomberg
