Ritesh Jain, a Dalal Avenue veteran, development watcher and International Macro Investor, captures international macro funding alternatives and financial, enterprise and monetary tendencies with charts and commentaries on this house.
Baltic Dry index sinks to all time low: Index monitoring freight charges for worlds largest cargo ships plunges into damaging territory as coronavirus slows international commerce.
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The divergence between the Copper/Gold ratio and the S&P500/Gold ratio is a transparent sign that steady liquidity injections by the Fed/ECB/PBOC are solely creating distortions between the actual economic system and the monetary system or what Einstein outlined as stupidity. ANZ consider that the Copper/Gold ratio is likely to be higher proxy of liquidity as commoditys are usually much less manipulated by straightforward cash. In any case the Copper/Gold ratio warrants consideration for reflationary property as it’s reflecting the impotence of central banks liquidity injections.
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In case you suppose you’ve gotten a selection, then you’re mistaken.
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WTI falls under $50/bbl for the primary time in additional than a 12 months: Bloomberg studies Chinese language oil demand is down 20% since Ncov19 outbreak. That is 3m barrels/day. That is large and a possible “glut” for the oil market.
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DeStatis believes orders for brand spanking new manufactured items in Germany had been about the identical in December as they’d been in September 2015. It has erased all the pieces from the increase of 2017 after which some. (Jeff Snider)
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