Precious Metals Pummeled In November As Stocks, Dollar Soar On Trade-Deal Hype
Despite what the market thinks...
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Source: Bloomberg
...Jay Powell "is not the messiah"...
Chinese stocks were all lower this week, erasing the month's gains, despite expectations for a China deal remaining high in the US markets...
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Source: Bloomberg
European stocks were higher on the week and month led by UK's FTSE...
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Source: Bloomberg
US stocks soared this week (led by Small Caps) to cap another strong month (led by Nasdaq)...
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Source: Bloomberg
Some selling today into month-end but US majors were all higher on the week
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"Most Shorted" Stocks had their 'best' week since October (and best month since June) as the short-squeeze continues for a 3rd straight month...
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Source: Bloomberg
Trade Deal hope was increasingly priced into stocks (3rd monthly rise in hope)...
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Source: Bloomberg
Momo had another down month, Value was flat...
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Source: Bloomberg
VIX ended lower for the 3rd month in a row, but today saw some weakness starting to creep back in...
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Source: Bloomberg
Treasury yields are higher on the month (led by the belly of the curve) with the long-end outperforming...
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Source: Bloomberg
On the week, yields are more mixed with the long-end lower and belly higher...
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Source: Bloomberg
30Y Yields pushed up algorithmically today to tag unch for the week before fading fast...
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Source: Bloomberg
The yield curve steepened for the 3rd month in a row (but only thanks to today's bounce off unch)...
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Source: Bloomberg
The dollar was higher for the 4th of last 5 months (best month since July)...
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Source: Bloomberg
The dollar ended a strong week on a big down-note...
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Source: Bloomberg
Cryptos had another ugly month, saved a little by recent buying rebound into month-end...
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Source: Bloomberg
But higher on the week with Bitcoin and Bitcoin Cash leading the rebound...
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Source: Bloomberg
Oil prices managed gains on the month despite collapsing today. Gold and Silver had a tough month...
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Source: Bloomberg
Crude was clubbed like a baby seal today on Russia/Saudi headlines...
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But remains the best month since June...
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Gold was hit early in the month, breaking below $1500, and could not get back. This was gold's second-worst month in three years
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This was silver's second-worst month since Nov 2016 (Trump's election) dramatically underperforming gold...
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Source: Bloomberg
Palladium was the only precious metal to manage gains on the month...
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Source: Bloomberg
Additionally, NatGas prices have collapsed...
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Finally, everything is awesome for everything this year...
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Source: Bloomberg
Judging by the stock markets, China is seriously losing the trade war...
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Source: Bloomberg
Because fun-durr-mentals don't matter...
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Source: Bloomberg
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