The whole situation in the Middle East is tragic and remans highly uncertain, whether or how far it escalates, and how other countries will react..US Secretary of State Antony Blinken will return to Israel Monday for "further consultations" after visiting Saudi Arabia. Eq markets set to reopen near/slightly below Friday's close, CHF still strong, and CROSSJPY's near same closing levels too
The right-wing populist Law and Justice party is on course to win most seats in Poland's general election, an exit poll suggests, but may struggle to secure a third term in office
Bonds weakened on U.S CPI, and Friday saw a Very decent bid in bonds again even with a weak 30y auction
In FX, CHF, gold reacted to bonds/geopolitics, as you would expect, even JPY showed a few signs of strengthening / short-covering, JPY crosses have been 'topping out' for weeks, looking for a trigger to move down, maybe we have it now..
SPX500 hit the 200dma around 4200 10days ago, rallied to the 100dma just short of 4400 and sold off again (Buyback authorizations are high but down 18% year/year-GS), equity market is very short VOL via ETF's.. #VIX etc...
WTI crude back to $88 from $82 lows last week, still very short of the $95 in late Sep, definitely a MUST keep an eye on in terms of who gets involved in this precarious geopolitical situation
Hardly surprising!
well well well
Have a great start to the week
Team PVM
GOLD
