QuiCQ 17/10/2024
Quantum Leap
“The biggest communication problem is we don't listen to understand; we listen to reply.”
— Stephen R. Covey
Another Dickensian moment brewing here?
The Nasdaq (right) hit a new all-time high yesterday. the Dow (left) had an eight consecutive negative session:
I am nearly tempted to make an “old economy versus new economy” comment here! Who is old enough to remember that argument?
Another way to look at this would obviously be via a spread. Here’s DJI minus NDX:
But let’s stay focused on yesterday’s/today’s session…
As mentioned, the more speculative corners of the market continued to rally, while overall more stocks are falling in price than rising - a pattern we have been observing since the beginning of the current month.
US bond yields did not move a great deal, somewhat trapped between a stronger-than-expected PMI Service reading and a lower-than-expected PMI Manufacturing number.
German Bund yields were largely unreactive to the expected outcome of Scholz’ confidence vote - elections are now expected for February 23rd.
One yield spread that has been ticking higher though over the past few sessions again is the French 10-year OAT to the German 10-year Bund spread:
Continue to stay tuned on that one.
Little movements in “legacy” fiat currencies, though cryptos were largely on a tear again, with Bitcoin trading above $106k this early Tuesday.
Asian equities are trading mixed this morning, with the Nikkei and the Hang Seng on the weaker side, whilst China’s CSI300 and Australia are eking out small gains.
AI? AI is so 2023! Thanks to Google’s latest baby “Willow”, Quantum computing is the hottest new kid in town now. Below, some names for you:
Don’t blame me if either a) you miss the uptrend because you did not invest or b) you lost all your money because you did invest.
Which reminds me of the best Disclaimer ever:
