U.S. Indices closed the first trading session of the week in the green amid risk-on sentiment as the US Senate took the first steps over the weekend to end the US government shutdown, alongside continued positive US/China trade developments. Sectors are predominantly firmer with mega-cap sectors Technology, Communications, and Discretionary outperforming with all Mag-7 names in positive territory. Consumer Staples was one of few sectors in red and saw a lack of demand due to risk-off characteristics. The Dollar was weaker with high-beta FX profiting due to the risk-on environment, with both the Swiss Franc and Japanese Yen the laggards, with the latter clearly underperforming on known themes. The Australian Dollar was also supported by constructive Chinese inflation figures. Newsflow on Monday was very quiet, so far, with no US data. Fed speak came via Musalem, Miran, and Daly, with the former toeing his usual hawkish tones, Miran, as expected, being the known dove, and the San Francisco President noted policymakers need to keep open mind on further rate cuts. WTI and Brent were choppy in thin energy-specific newsflow, but ultimately settled in the green, while spot Gold lifted back above USD 4,100/oz. Treasuries are weaker across the curve with the greatest losses seen in the short-end. Mild strength was seen following the solid US 3-year Treasury auction. In later trade, US President Trump on Truth regarding tariff pay backs, and noted the “Pay Back” Number on tariffs… would be much higher than those being stated by “our Fake Opposition”… and would be in excess of $2 Trillion Dollars”. Note, Tuesday is Veterans Day where cash bonds are closed. Elsewhere, both Oil and Gold closed higher by 0.5% and 2.75% respectively.
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For anyone following my Platinum Service it made 180 points yesterday and is now ahead by 2687 points for November, after ending October with a nice gain of 5110 points after closing September with a gain of 3774 points while ending August with a gain of 3362 points after closing July with a gain of 3753 points after closing June with a gain of 3530 points, having closed May with a gain of 3606 points, after closing April with a gain of 7685 points after closing March with a gain of 2254 points while closing February with a gain of 4180 points. January ended with a gain of 2768 points while 1997 points were gained in December. October ended with a gain of 2179 points, after closing September with a gain of 4402 points, following a loss of 301 points in August. July gained 1908 points while June saw a gain of 2074 points. The Platinum Service made a record 9619 points in October 2022. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 2300 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification
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