Stocks End Best Quarter In Years With A Whimper But Gold Is Winner
So Q1 is over and this happened...
And the message is clear...
Gold wins...
It's been an interesting quarter...
So Q1 is over and this happened...
And the message is clear...
Gold wins...
It's been an interesting quarter...
RBC's head of cross asset strategy Charlie McElligott dons his full wonksh equity analyst hat today, exposing "The April Effect," and the specific risk of "nasty double whammy" of levered long-short unwinds should momentum stall.
Bank of America's Michael Hartnett is back with another controversial note overnight, reminding readers that "it ain't a normal cycle" for one overarching reason: central banks.
Stocks fell worldwide on the last day of the quarter, with US equity futures pointing to a lower open even as the S&P is set for its best quarter since 2015 amid persistent economic and political uncertainty.
As RBC pointed out earlier today, there were two key drivers (in addition to month end "black box" rebalancing) behind today's volumeless equity rally: the jump in the dollar, which rose on the previously discussed Fed-ECB policy divergence as well as upward revisions to Q4 GDP, and which has put the BBG dolar index on track for its first weekly advance in three ...