GoldFix Weekly: The Trump-Hartnett Flow Show
Fight, Fight, Fight!
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Index
Market Summary
Commodities: Gasoline risk charted
Stock Sectors: Hartnett was right
Bonds: See Hartnett being right
Crypto: Trump Did it
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Quotable:
Therefore: expect strong bonds, weaker USD, and some stock choppiness with internal rotation to (finance/Reit style) dividend plays with commodities and EM stocks as the upside “boom” part. - Hartnett Summary
“Fight Fight Fight”-Trump MemeCoin logo
1. Market Summary
Stocks stabilized, Bonds bounced, Bullion was mixed, and Bitcoin resumed its rally. Data was fantastic for stocks. A new kid on the block (TrumpCoin) blew the doors off traditional metrics. Data and sentiment all confirmed this. But we think Hartnett’s tune-changing Bond and Bullion comments out late Thursday (shared earlier with better clients) had something to do with big players rotating ahead of the inauguration.1
In total, a rally across asset classes saw bids in bonds, Bitcoin, gold (back above $2,700), and stocks (breaking key technical levels).
The Trump Trade Resumes with a Kicker…
OVERVIEW:
Markets had been taking profits in all post election Trump trade winners for the past few weeks. In doing so they had taken some froth out of various assets including: individual Stock longs, Index shorts, Bond shorts, Bitcoin longs and perhaps Gold longs as well. That seemed to end abruptly mid week as a new wave of euphoria hit markets and the Trump trade resumption began anew. This time it was helped Friday morning by rumors of a Trump crypto coin being launched. The Trump coin was indeed launched 10pm Friday night and climbed 1600% to a market cap of over $70 Billion in 2 days
Drilling down a little bit on specifics: Inflation data surprised significantly to the downside while growth metrics exceeded expectations
Oil prices ended higher for the week but retreated after the Israel-Hamas deal reduced geopolitical risk. - Hartnett .. yup
Trump-Trade Resurgence was evident as renewed interest was apparent in the 'Trump Trade' emerged ahead of the inauguration. Hartnett said the Trump froth was gone and things could turn up again
Gold rallied for a third consecutive week, nearing record highs.- Hartnett: “Flip Oil longs to Gold”