Summary:
Another agitated week!
Liz Truss went away, together with her minibudget, due to lack of credibility.
The bond markets are stressed, with real rates increasing around the
world. The economic outlook for next year remains gloomy.
China gets its own paragraph. The BIG CCP meeting has been ongoing, and we are waiting for a digest of the policies and directions the giant will take during the next years. The president should remain for some more time. In the meanwhile, the USA can only think about doing war with China about the Taiwan independence, or escalating the war with Russia, in Ukraine soil.
The stock markets jumped up and down, but ended the week on a positive note, after the FED whisperer telling that the FED pivot is near – probably early next year we’ll see no more rate hikes. The dovish pivot may be even closer if some emergency occurs in the bond market (for example).
In the near term, we may have a bit of a rally in the stock markets for some time, but it’s early to predict how long and significant it will be. This will depend on the remaining of the earnings season – big names will report next week, so you should keep an eye on Mister market, and buckle up for a bumpy ride…
The FED Pivot is Around the Corner, but Inflation is Here to Stay…
Video: A Global Monetary Reset Is Here; Countries No Longer Want to Be Held Hostage, Warns Frank Giustra
Channel: Stansberry Research
Video: SPECIAL REPORT! Fed. BLINKS! Sends Stock Market SOARING! But Is It Over? By Gregory Mannarino
Channel: Gregory Mannarino
Video: Fed To Inflict Severe Damage On Markets | Michael Pento
Channel: Liberty and Finance
A Cold Winter is Coming for Europe and the World
Video: Could The UK Kick Off The Next Eurozone Crisis?
Channel: Economics Explained
Bye
Video: Liz Truss’s 45 days as UK prime minister – BBC News
Channel: BBC News
War? WWIII??? Freaks!!!
Video: White House or Insane Asylum? Politicians Want War With Russia, Get Prepared for Crash
Channel: Gerald Celente
Wall Street rallied after a muted start on Friday, with the Dow adding more than 700 points and both the S&P 500 and Nasdaq up around 2.4% as investors reassessed the outlook for monetary policy. The trigger for the abrupt upside move was a report from the WSJ that showed that some officials are signaling a desire to slow down the pace of the increase soon to gauge the impact of such tightening on growth. The market movement came in tandem with easing Treasury yields, which brought some respite to growth-oriented stocks. Still, volatility showed no signs of abating amid Friday’s $2 trillion options expiration. Meanwhile, a slew of negative quarterly results from corporate America capped gains. Snap crashed 28% after the company forecasted zero growth for the current quarter, triggering a selloff among other social media companies dependent on advertising revenue. All major US indices closed in the green for the week with the Dow gaining 4.9%, the S&P 4.7%, and the Nasdaq 5.8%.
Gold prices rose past $1,640 an ounce of Friday, rebounding from the three-week low of $1,620 hit earlier in the session and tracking the rebound for Treasury notes after the greenback pulled back from recent highs. Demand for bullion gained traction after a report from the Wall Street Journal indicated that some Federal Reserve policymakers have expressed uncertainty on whether going through with the aggressively hawkish guidance could cause overtightening. The US central bank is expected to raise its funds rate by 75bps for the fourth consecutive decision in the upcoming November meeting, extending its battle against soaring inflation. Still, gold prices remain close to the 18-month low of $1,613 hit on September 28, as the DXY’s surge increased the opportunity cost of holding non-interest-bearing bullion. On the week, gold prices are set to close flat.
