Mission Accomplished: Fed Officially Blows The Biggest Ever Bubble


67

Objective Accomplished:

— zerohedge (@zerohedge) July 31, 2020

Stocks handled gains on the month (fourth month in a row) – Nasdaq best, Dow worst …

Source: Bloomberg

And note that regardless of the epic rise in the mega tech stocks overnight … Yes, that is AAPL up 10%!! (GOOGL -4%) … MSFT managed to rally back to unch after rumors of it purchasing TikTok …

Apple is up $170 BN today, more than the marketplace cap of Oracle, more than the GDP of Hungary; Apple’s value increase today would be the 33 rd most significant business in the S&P500

Nasdaq was not a one-way street today as CNBC strikingly mentioned ” nasdaq has actually now gone unfavorable which is quite interesting …”

And you need to laugh at this – The Dow scraped by today … as AAPL’s insane squeeze greater controlled the rest of the whole index …

Source: Bloomberg

however that will change when AAPL splits.

BUT, it was in currency, commodity, credit, and crypto land that the genuine enjoyable and games happened.

Bonds were bid pretty much all month with the long-end significantly outperforming …

Source: Bloomberg

… and pressing to new record low yields …

Source: Bloomberg

Some highlights:

  • 2Y Treasury yields fell for the 8th month in a row

  • 30 Y Treasury yields succumbed to the fifth month this year

  • twos30 s Curve flattened by the most given that August 2019

Source: Bloomberg

Still a long way down for stocks if bonds are right …

Source: Bloomberg

Gold and silver shrieked higher on the month.

  • Silver’s best month given that 1979 (when the Hunt Brothers tried to corner the market)

  • Gold’s best month because 2011

Spot Gold reached a new record above Sept 2011 and Futures topped $2000 …

Source: Bloomberg

Silver’s at its greatest because June 2013 …

Source: Bloomberg

Oil’s up for the 3rd month in a row, but has mostly trod water all month …

Source: Bloomberg

Cryptos soared in July with Ethereum best (up over 50%, its 4th month-to-month increase in a row) and Bitcoin up 22% …

Source: Bloomberg

Ethereum closed at its highest considering that August 2018 …

Source: Bloomberg

And assisting all these possessions rise in worth, DXY Dollar Index suffered its biggest monthly drop considering that 2010 …

Source: Bloomberg

Breaking a key up-trend line …

Source: Bloomberg

Did Washington mess with the ‘money’ one a lot of times?

Gold seems to think so …

Source: Bloomberg

Lastly, we keep in mind that ‘soft’ study macro information has actually risen loaded with intend to a region that has actually not ended well in the recent past

Source: Bloomberg

Better keep pumping …

Source: Bloomberg

Keep In Mind, Diversify, Diversify, Diversify … oh wait!

h/t @Not_Jim_Cramer

We’ve seen this prior to …

h/t KesslerCompanies.com

Trade accordingly.

So – summarizing July – Stocks up, Bonds up, Gold up, Silver up, Oil up, Crypto up, Dollar Down (along with Fed credibility.)

Material from.
ZeroHedge.com RSS feed.


Like it? Share with your friends!

67