Limit Up! 6th January 2025
Ian Reynolds
Investing and Trading | Capital Markets | Macroeconomics| Bitcoin & Decentralised Finance | Helping to Find the Money Flow | Commentator | Speaker
Risk On
Quiet markets to start the new year but US equities and crypto were higher with Bitcoin approaching USD 100,000 again. This is probably a reaction to all the "markets are going to crash" experts getting it wrong. They'll be right soon but so will a stopped clock. In trading it's timing that's more important than price.
The USD was slightly weaker which took some pressure off.
But bonds are telling us another story.
Japan
JGB yield back up to the level in 2012 as Ueda continues to talk rate hikes.
US Bonds
US 10 year treasury yields continue to tick back up.
China Equities
Despite all the stimulus the stock market can't seem to rally further.
China Peg Broken?
And the USD / YUAN peg looks as though it's broken.
Politics
According to credible sources Canada PM Trudeau is to resign as early as today, possibly making Canada yet another country without a leader joining Germany, France and Spain. I would add the UK too.
Trump's sentencing for the hush money saga is scheduled for 10th January.
Later today
Interesting