{"id":1500807,"date":"2024-11-06T21:00:00","date_gmt":"2024-11-07T02:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1500807"},"modified":"2024-11-06T21:00:00","modified_gmt":"2024-11-07T02:00:00","slug":"trump-quake-sparks-market-euphoria-gold-dips-as-dollar-rips","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/trump-quake-sparks-market-euphoria-gold-dips-as-dollar-rips\/1500807\/","title":{"rendered":"‘Trump-Quake’ Sparks Market Euphoria; Gold Dips As Dollar Rips"},"content":{"rendered":"

‘Trump-Quake’ Sparks Market Euphoria; Gold Dips As Dollar Rips<\/span><\/p>\n

\n

Where to start?<\/p>\n

<\/a><\/p>\n

The ‘Trump Trade’ in stocks was a big winner…<\/strong><\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Other Election Themes exploded (or imploded) on the day with ‘Deregulation Gainers’ winning and ‘Renewables’ and ‘Tariff Risks’ losing…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Overall, all the majors were up bigly on the day led by a massive short-squeeze in Small Caps (up almost 6%). A little profit-taking at the cash-open was quickly met with BTFD algos…<\/p>\n

<\/a><\/p>\n

Mega-Cap tech soared back near record highs…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

TSLA shares soared 15% to their highest since July 2023<\/p>\n

<\/a><\/p>\n

DJT is also up bigly after a lot of noise in the last few days…<\/p>\n

<\/a><\/p>\n

And Most Shorted stocks exploded higher…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

With ‘some’ of the uncertainty over (FOMC tomorrow), VIX was clubbed like a baby seal today…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Crypto loves Trump and Bitcoin exploded to a new record high of $76000…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

…next stop $100k-plus?<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Ethereum also soared back above $2700, but relative to Bitcoin remains a majoir laggard having erased the DeFi boom gains…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Treasury yields soared on the Trump victory with the long-end lagging notably (30Y +17bps, 2Y +9bps) pushing everything higher on the week…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

UST Yields are now back at their highest since early July…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Inflation Breakevens smashed higher on Trump’s win – 2Y BEs at their highest since April…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Rate-cut expectations plunged with 2025 now pricing in just 57bps of cuts!!! The aggregate rate cut expectation from now until the end of the 2025 is less than 100bps (less than 4x25bp cuts)…<\/strong><\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Tomorrow’s 25bps rate-cut appears to be a lock (95% odds implied by the market)… but after that who knows?<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

The dollar exploded higher, hitting 12-month highs at its peak overnight. This was the dollar’s biggest daily gain since Feb 2023<\/strong>..<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

The dollar strength was just too much for gold to handle and it was monkeyhammered lower. This was Gold’s worst day since June and pushed it down to test the 50DMA…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Despite the ‘drill, baby, drill’ fears of supply, crude prices ended higher on the day (economic growth) with WTI back above $72…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Finally, after the Biden exit and Harris endorsement, Goldman’s Republican policy pair (GSP24REP) underperformed by ~-7% until October 1st and attempted to recover after the VP debate. While today\u2019s move is in line with expectations, Goldman’s trading desk expects further upside in their Republican Policy Pair (GSP24REP) through inauguration day<\/strong>…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Trade Accordingly.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 11\/06\/2024 – 16:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/market-recaps\/trump-quake-sparks-market-euphoria-gold-dips-dollar-rips<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

‘Trump-Quake’ Sparks Market Euphoria; Gold Dips As Dollar Rips Where to start? The ‘Trump Trade’ in stocks was a big winner… Source: Bloomberg Other Election…<\/p>\n","protected":false},"author":0,"featured_media":1500808,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1500807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1500807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1500807"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1500807\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1500808"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1500807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1500807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1500807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}