‘Trump Trade’ Goes Turbo: Bitcoin & Bullion Hit Record Highs, Tech & TSY Yields Rise
As the big day gets closer – and despite the catalyst-heavy week ahead – the so-called ‘Trump Trade’ continues to charge higher in stocks, crypto, bond yields, and gold…
The Trump Trade in stocks is roaring…
Source: Bloomberg
The other Trump Trade?
Source: Bloomberg
Gold exploded to a new record high…
Source: Bloomberg
Bitcoin hit a new record high…
Source: Bloomberg
…and if global money supply is anything to go by, Bitcoin could top $100k before this leg is done…
Source: Bloomberg
BTC ETF flows have been enormous in the last two weeks…
Source: Bloomberg
Ethereum has been lagging Bitcoin recently, but based on the cryptocurrency’s historically tight relation to inflation expectations, ETh could be about to leg higher…
Source: Bloomberg
And Treasury yields hit their highest since July 5th this morning before rolling back over…
Source: Bloomberg
Coming back to stocks, the Republican policy basket is dramatically outperforming the Democrat policy basket…
Source: Bloomberg
Mega-Cap tech is outperforming (ahead of GOOGL tonight and more of the MAG7 later in the week)…
Source: Bloomberg
That pushed Nasdaq up 1% on the day as Small Caps and The Dow lagged…
Most Shorted stocks actually had a down day (after three big squeezes higher)…
Source: Bloomberg
The dollar ended the day unchanged but coiled up in a very methodical way during the US session…
Source: Bloomberg
Intraday, Treasury yields ended the day practically unchanged – but not before roller-coastering higher during the European session and lower (yields) during the US session…
Source: Bloomberg
Breakevens are running significantly higher too…
Source: Bloomberg
Oil prices ended lower again – despite a small rebound after yesterday’s bloodbath – with WTI testing a $67 handle…
Source: Bloomberg
With a week to go until the election, we note that pump prices are tumbling… notably – and mysteriously – decoupled from wholesales gasoline and crude prices…
Source: Bloomberg
Finally, USA Sovereign risk remains extremely elevated…
Source: Bloomberg
Is this the ultimate Trump Trade?
Tyler Durden Tue, 10/29/2024 – 16:00
Source: https://freedombunker.com/2024/10/29/trump-trade-goes-turbo-bitcoin-bullion-hit-record-highs-tech-tsy-yields-rise/
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