Looking at latest U.S. #trade data (goods only), Chinese purchases of U.S. goods improved a bit compared to May. However, using a linear extrapolation, they are still expected to decline in 2020 (compared to 2019), while #PhaseOne deal implies a jump of more than 110%❗ pic.twitter.com/GbqC7WNy9r
— Christophe Barraud (@C_Barraud) August 5, 2020
Remarkable how inflation expectation and nominal yields are moving in opposite directions.
The Fed's new mandate, suppress yields at all cost.
Meanwhile, US Treasury keeps raising its borrowing estimates:
$947B in Q3
$1.2T in Q4Just the beginning of a frenetic gold rally. pic.twitter.com/gYbqZ61apl
— Otavio (Tavi) Costa (@TaviCosta) August 5, 2020
Banks tightened lending standards further during Q2, in stark contrast to market developments (opposite situation post the IT-bubble). The Fed can safeguard market financing to some extent but not necessarily save Main Street. Could weigh a little on macro in coming months. pic.twitter.com/F3qMY6c3pP
— Sebastian Dypbukt Källman (@sdypbuktkallman) August 4, 2020
Record levels are being approached.
NASDAQ’s 20 day moving average is now up 82 consecutive days!
This is the 3rd longest streak EVER. Historically this led to a pullback in the NASDAQ and S&P over the next 2 months. pic.twitter.com/4E1DPPjCDR
— SentimenTrader (@sentimentrader) August 5, 2020
Gold has rallied for 13 out of 14 days.
That has happened never times before. pic.twitter.com/tF0eW2iFto
— SentimenTrader (@sentimentrader) August 5, 2020