|
Monday 27th September 2021
Hi Friend,
TSE Monday Morning Markets ...
|
| | The Saturday Economist Monday Morning Markets ...
This is our Monday Morning Markets Update for the 27th September. The detailed chart books are available to Premium Subscribers and The Saturday Economist Club members with details of our "Market Value Measures" included. US stocks remain over valued, fair value in equities lies elsewhere ...
|
| | Markets closed up +0.17%...
Our index basket closed up this week, just. European stocks were leading the way. The FTSE closed up 1.26%, the French index followed.
US stocks trembled at the start of the session, allegedly because of the Evergrande fall out. Any excuse better than none, by close markets had come to terms with the risks. Both the DOW and SPX moved higher, it's all becoming too much for the Nasdaq up just four points. That's over valuation for you ...
Asian stocks moved lower, the Hang Seng down by almost 3%. The exception was BSE moving up by 1.75%. Ian Cowie in The Sunday Times made the swing call this week, out of China into India!
|
| | Bond Market Sentinel ...
US ten year bond yields moved higher this week, closing at 1.45 from 1.37. UK bond yields moved higher jumping to 0.94 from 0.85
In Japan ten year bond yields were up to 0.06. European bond rates moved slightly higher up five basis points.
The only way for yields appears to be up, with an inherent capital loss in the process. Bill Gross verdict "government bonds are garbage". Cash is trash, bonds are garbage and stocks (U.S.)are overvalued!
|
| | Exchange Rates ... Sterling $1.3745
Exchange rates, Sterling moved down against the dollar at $1.3745 and down against the Euro at €1.1699. The cross rate Euro Dollar moved lower at $1.1735.
Exchange rate volatility a thing of the past apparently. More excitement is offered in crypto and gas futures for active traders ...
|
| | Empires of the Cloud Trade Lower ...
Our Empires of the Cloud Fund traded lower this week. The "AI" Five closed down -0.6% led by Facebook and Amazon. Apple and Google moved higher.
The market cap closed down to $9.3 trillion, just Apple and Microsoft remaining in the Two Trillion Dollar Club. FB nudged out of the $1 trillion club with the latest moves.
The average PE moved to 36.77, Amazon at 60.35 sets the pace.
|
| | Good week for Crypto ... Up 1.5% ...
Good week for Crypto fans. Our Crypto wallet closed up 1.5% in the week. Bitcoin moved up 1.6% to close at $43,835.
Litecoin the laggard down 2.4%, Ripple the star up 6.2%
Bitcoin appears set to test the $40,000 level, despite becoming legal tender in San Salvador and outlawed in China ...
|
| | Oil Prices Moving Higher ...
Oil
prices Brent Crude closed up at $77.97 last week. Trading at $79.01 this morning, both oil and gas prices are moving higher.
We had expected oil to trade between $65 - $70 in the
second half as the long bets unwind. The current pattern will upset our inflation outlook. Inflation CPI basis hit 3.2% in August.
The Bank expects inflation to hit 4% in the final quarter but the risk is to the upside ... $70.00 to $75.00 may be the range for Autumn trade maintaining the pressure on input costs ...
|
| | | That's all for this weeks Monday Morning Markets have a great week ahead ...
|
| | | |
© 2021 John Ashcroft, Economics, Strategy and Financial Markets, experience worth sharing.
______________________________________________________________________________________________________________
The material is based upon information which we consider to be reliable but we do not represent that it is accurate or complete and it should not be relied upon as such. We accept no liability for errors, or omissions of opinion or fact. In particular, no reliance should be placed on the comments on trends in financial markets. The receipt of this email should not be construed as the giving of advice relating to finance or investment.
______________________________________________________________________________________________________________
If you do not wish to receive any further Saturday Economist updates, you can unsubscribe or update your details, using the buttons below or drop me an email at jkaonline@me.com. If you enjoy the content, why not forward to a friend, they can sign up here ...
_______________________________________________________________________________________
We have updated our privacy policy to address Europe's General Data Protection Regulation (GDPR). The policy changes include explaining in more detail how we use your information, including your choices, rights, and controls. We have published a GDPR compliance page about the regulation and the steps we have taken as part of our compliance process. Your privacy is important to us.
For details of our Privacy Policy and our Terms and Conditions check out our main web site. John Ashcroft and Company.com
_______________________________________________________________________________________________________________
Copyright © 2021 The Saturday Economist, All rights reserved. You are receiving this email as a member of the Saturday Economist Mailing List or the Dimensions of Strategy List. You may have joined the list from Linkedin, Facebook, Google+ or one of the related web sites. You may have attended one of our economics presentations. Our mailing address is: The Saturday Economist, Centurion House, 129 Deansgate, Manchester, M3 3WR United Kingdom.
|
| |
|
|
