Asia

The key economic releases this week are durable goods and GDP on Friday. On the political front, the focus will be is on the first actions of the Trump administration including moves on TPP and NAFTA. There are no scheduled Fed speeches this week.

Arond the globe, the UK Supreme Court decision on Art.50 and the Italian Constitutional Court's decision on the electoral law are on Tuesday. In EM, we have monetary policy meetings in Colombia, Hungary, Turkey, South Africa and Ukraine.

While US stocks closed near session, and all time highs on Friday, the first green close on inauguration day in over 50 years, Monday has seen a modest case of buyer's remorse, with European stocks sliding, Asian shares mixed and U.S.

Earlier we reported that according to Goldman, virtually all of its investing clients are "anxious" and/or unsettled" due to rising confusion over Trump policies. As Goldman explained, "'Unsettled' is our best description of fund managers’ mindset as the new administration takes office. During an extensive series of client meetings in the US, Europe and Asia, it became apparent that investors are confused about how to best position portfolios under a Trump presidency... Policy uncertainty was a topic of concern raised in every client meeting.

Bitcoin and Gold – Outlook, Volatility and Safe Haven Diversification

– Recent performance of Bitcoin and Gold– Price outlook– Bitcoin, China and capital flight– Exchanges of value?– Can bitcoin rival gold as a safe haven?– ‘Bitcoin vs Gold’ or ‘bitcoin and gold’?– Importance of diversification– Conclusion: A monetary and financial revolution?

Recent performance of bitcoin and gold

Markets "bought" the election. Now the question is whether they will sell the inauguration. That is the take from the latest weekly letter by Goldman's chief strategist David Kostin, who says that "investor angst is high." Kostin then explains the one-word reason behind such confusion and angst - take a wild guess what it is.