Think Long Term And Short

Traditional Markets

The entire world will be watching the G7 meetings in Quebec this weekend.

The presence of President Trump will have everyone on high alert, especially since he has slapped most of the present members with fresh tariffs.

Stocks are giving back some of their gains from earlier this week and all indices are firmly in red for today. These three charts show the last week for Nasdaq, DAX, and Nikkei respectively.

Over in Spain

Last Friday we had some rather urgent news out of Spain and it seems we have now witnessed a complete swing of the political pendulum as power has shifted firmly and smoothly to the opposition.

The incoming Prime Minister Pedro Sanchez has set a precedent with the country's first female majority government with 11 of his 17 ministers being women.

Sanchez will likely be on his best behavior as his social party currently holds less than 25% of the total seats in the Spanish Parliament...

His number one goal at this point will be to increase his numbers going into the next election, likely to be sometime next year.

It's actually rather impressive how well the markets held up during this transition. Unlike in Italy, there was no blowout in the stock markets. Even though there were modest declines in the IBEX 35 in the week leading up to the switch (purple circle), it seems to have recovered most of them already.

Bitcoin Volumes Increasing

Over the last few weeks, we've seen massive spikes in Bitcoin volumes, coming mostly from the emerging market countries and Japan.

Earlier this week we discussed how the deteriorating state of Venezuela's economy shows us a real-world need for global money and even how bitcoin can be seen as a stable store of value for millions of people.

It seems that while I was writing that update, the country was actually seeing a real surge in bitcoin usage. Unfortunately, the website that tracks the online bitcoin market only updates on a weekly basis and from the update this morning we can see that this past week has seen a 263% increase in volumes over the last month.

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Please note: All data, figures & graphs are valid as of June 8th. All trading carries risk. Only risk capital you can afford to lose.

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