From: zerohedge
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…
The other Trump Trade?
Gold exploded to a new record high…
Bitcoin hit a new record high…
…and if global money supply is anything to go by, Bitcoin could top $100k before this leg is done…
BTC ETF flows have been enormous in the last two weeks…
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…
And Treasury yields hit their highest since July 5th this morning before rolling back over…
Coming back to stocks, the Republican policy basket is dramatically outperforming the Democrat policy basket…
Mega-Cap tech is outperforming (ahead of GOOGL tonight and more of the MAG7 later in the week)…
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)…
The dollar ended the day unchanged but coiled up in a very methodical way during the US session…
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…
Breakevens are running significantly higher too…
Oil prices ended lower again – despite a small rebound after yesterday’s bloodbath – with WTI testing a $67 handle…
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…
Finally, USA Sovereign risk remains extremely elevated…
Is this the ultimate Trump Trade?
