SpaceX remains on course to be one of the most important companies ever, and is driving competition to commercialise space… and some comments about the UK budget.
This morning: While Bonds dominate market moves, the BIG future investment picture is about how geopolitics move towards new US relationship with China – particularly where Europe stands. The US is potentially the biggest loser
Everyone thinks current market volatility is due to the bond market acting like a bully. When it lashes out the market sells off in fright. Volatility is elevated and everyone is flustered about bursting bubbles
There is an old market rule – don’t fight the Fed. Jay Powell has been crystal clear: rates are staying lower for longer. But the ongoing sell-off in Treasuries, and rising global bond yields, paints an interesting story of a market unconvinced rates can be held down
No surprises from Fed-Head Jay Powell yesterday – no matter how much we fear inflation or recovery pushing rates higher, he reassured us by saying what the market wanted to hear: the US economy remains “a long way from our employment and inflation goals, it is likely to take some time for substantial progress to be achieved.”
Interesting markets as tech wobbles on the perceived inflation threat while bond yields continue to edge upwards. In our regular virtual-office Monday huddle we debated whether the inflation threat is real, immediate or likely to be delayed
Congratulations to Italy’s Team Luna Rossa Prada Pirelli winning the sailing Prada Cup on Sunday morning to knock the UK out of this year’s America’s Cup.
Two linked themes this morning – what about the little people? Most mornings I write about market macro and micro themes, but occasionally things happen that may just be a turning point. Two things to think about today: Big Tech and Retail Investors.
Blain’s Morning Porridge – Feb 17 2020 – Act Big, Think Careful “The secret of getting ahead is getting started.”…
I should warn readers there mght be a lot of “apparentlys” and “maybes” in this morning’s Porridge about Cryptocurrencies.