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Writer's pictureStéphan
Sep 252 min read

China's ''bazooka'' / Yield curves turn positive / Warren still selling BofA / #XAG / Quarter end flow dominate now


  • China's ''basooka'' : lowered rates ands signaled more to come, lower RRR for banks (more liquidity), pledged some $100bn in equity support, stock market stabilization type fund discussed, easier rules on 2nd home purchases/Thread >>> Morgan Stanley views the event as reflecting a change in mindset in Beijing’s approach to dealing with deflation >>>> commods, industrial metals, HSI and Chinese stocks nicely up, BofA thinks it is as expected basically, a reminder that Chinese stocks have been hated (or worse shorted by many HF's) for months, investors are significantly underweight China equities..

  • China test-fires ICBM for first time in decades

  • Hezbollah has been provoked like never before by Israel and may be tempted to unleash its firepower

  • Bond anomaly that twisted yields from US to Germany is NO more >>> German yield curve is latest to turn positive after US and UK >>> The 3m-10y Treasury yield spread has steepened by nearly 49 bps in the past 10 days ... that's the most aggressive 10-day move since March 2020 and before that, December 2010

  • France could get deficit to EU limit in five years, says Bank of France head

  • Berkshire Hathaway still reducing Bank Of America Holdings

  • Month-quarter end flow dominate now for rest of the week, USD sales most likely, risk trying to rally still - could be quite volatile (bonds, usd )


 










Not good



#silver #xagusd be patient, this time is different :-) #SILJ and the likes of #GDX still lagging actual XAU prices



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