Tue, 3 November 2020
Stock markets were up again: Dow down 4.6%, S&P 500 down 2.8% Nasdaq finished down a hefty 9.6%, but TSX.V down another 3.3% percent. VIX blazed higher finishing at 38.00. Dollar was up .2% and Euro lost .6%. 10 Year way up at .88%. Bitcoin was a big winner rising 26.1% during the month. Gold nearly flat with a .4% loss to 1879. Silver rose 1.7% to 23.64. Even PT was down another 5.2%. PD down 5.4% for the month. Copper up .8% to $3.03. WTI was slammed 11.2%. Brent down 7.5%. Natgas was the month's big winner up 32.4% to 3.35 per mm. Uranium was down to just under $30. Ratios: Au/Ag 79.5 - Pt/Au .45 - Pt/Pd .40 - BRT/WTI 1.06 WT/HH 10.7 and AU/WTI 52.6. |
Tue, 3 November 2020
New York has seen a precipitous slide recently. Hotel occupancy rates are down to under 10%. 90% of restaurants are behind on their rent. Criminal justice enforcement has been all but done away with. Civil unrest could well break out after the election. This is a real test of the City's long-term survival. Michael is speaking out against #KillerCuomo and #comradeDiBlasio and their refusal to enforcement the law and keep order. Time will tell. |
Tue, 3 November 2020
Polls tighten, raising odds of civil unrest: --Trump drawing insanely large crowds in battleground states, dwarfing Biden’s audience; -- Minority turnout is disappointing compared to probable Trump voters; -- White House building big fence in anticipation, cops are on alert in big cities. If stimulus is delayed through the holidays, mass bankruptcy and default in both private and public sectors. Malls, restaurant chains, airlines are all toast. Lockdown impoverished travel, government and so many millions. If they don’t money in a hurry, they are bankrupt. It would have been done if not for the election. It’s in each party’s interest to delay it for a while. Each month that goes by makes it less likely many of these companies will survive. JPMorgan came right out and said economy chaos is great for stocks! Europe is locking down again, will President Biden do the same for the US? Is gold the big winner from this election? Silver would be the big winner from a Blue Wave? Greenwald quits Intercept after being censored. |
