{"id":1501283,"date":"2024-11-08T21:00:00","date_gmt":"2024-11-09T02:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1501283"},"modified":"2024-11-08T21:00:00","modified_gmt":"2024-11-09T02:00:00","slug":"trump-trade-goes-turbo-crypto-rips-gold-dips-small-caps-best-week-since-covid","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/trump-trade-goes-turbo-crypto-rips-gold-dips-small-caps-best-week-since-covid\/1501283\/","title":{"rendered":"‘Trump Trade’ Goes Turbo: Crypto Rips, Gold Dips, Small Caps Best Week Since COVID"},"content":{"rendered":"

‘Trump Trade’ Goes Turbo: Crypto Rips, Gold Dips, Small Caps Best Week Since COVID<\/span><\/p>\n

\n

The S&P 500 topped 6,000 for the first time ever this week (and its 50th record high of the year)<\/strong> as all the US majors exploded higher the election. Small Caps had their best week since the COVID lockdowns (and liquidity surge) in April 2020…<\/p>\n

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Market volumes remain extremely elevated,<\/strong> on track for the third consecutive session above 15B shares and the seasonals are still with the trend…<\/p>\n

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

Goldman issued a Franchise Flow Alert<\/strong>:<\/p>\n

thru yesterday, aggregate LO demand has been a massive +$12B,<\/strong> after having sold -$10B last week into year-end for 22% of MFs and ahead of the election.\u00a0 <\/em><\/p>\n

Today that number is coming down a bit as the entire franchise tilts for sale, but the Mutual Fund squeeze remains the most violent flow dynamic in the market<\/strong> (and, when coupled with Corporate demand \u2013 remember Nov\/Dec is the busiest 2 months for this cohort – this should be a tailwind for stocks).<\/em><\/p>\n

Energy and Financials outperformed this week (deregulation)…<\/p>\n

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

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…but overall it was the “Trump Trade” that exploded higher…<\/strong><\/p>\n

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

Election-sensitive baskets moved dramatically this week…<\/p>\n

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

TSLA tore back above $1 trillion market cap this week and NVDA continued to push to new record territory, now considerably larger than AAPL…<\/p>\n

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

Small Caps were helped by financials but the ‘most shorted’ stocks basket seeing a massive squeeze helped a lot…<\/p>\n

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

Vix was clubbed like a baby seal as all those hedges were lifted as stocks ripped higher…<\/p>\n

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

Both stock and bond vol was eviscerated this week (after the election and FOMC)…<\/p>\n

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

It was a massive week for bonds though (even as vol fell) with Treasury yields spiking and dumping to end with a very much flatter yield curve. Only the short-end of the curve is higher on the week…<\/p>\n

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

2s10s tumbled back towards inversion once again…<\/p>\n

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

The dollar rose for its sixth straight week to its highest weekly close in 5 months…<\/p>\n

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

What the dollar gained, gold lost this week (worst week since May)…<\/p>\n

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

Bitcoin surged to its second best week of the year, smashing through record highs, topping $77,000 after Trump was elected…<\/p>\n

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

BTC ETF inflows exploded higher this week…<\/p>\n

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

This week also saw Ethereum surge to its best relative performance against BTC since May as DeFi boom hopes are reignited…<\/p>\n

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

Crude prices ended the week unchanged, back up at pre-plunge levels from last week’s Iran-Israel non-attacks…<\/p>\n

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

And finally, while pundits panicked, global markets rallied in relief of not four more years of Bidenomics…<\/p>\n

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

USA sovereign risk has collapsed since Trump’s Red Sweep – not exactly the signal of the stagflationary hellscape that ’51 noble prize winning economists’ predicted.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 11\/08\/2024 – 16:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/market-recaps\/trump-trade-goes-turbo-crypto-rips-gold-dips-small-caps-best-week-covid<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

‘Trump Trade’ Goes Turbo: Crypto Rips, Gold Dips, Small Caps Best Week Since COVID The S&P 500 topped 6,000 for the first time ever this…<\/p>\n","protected":false},"author":0,"featured_media":1501284,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1501283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6iyf","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/11\/2024-11-08_12-38-34-2ySHCF.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1501283","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=1501283"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1501283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1501284"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1501283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1501283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1501283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}