gold, page-98613

Well well what an end of month!

fed cash repo market smashed a new record
1,039.394 Billion in overnight loans to the highest number of banks

Well over a trillion dollars in cash loans overnight at 5 bps for the first time

This move sees bond prices for long rates kept low- 1.226 on usd ten year despite the earnings and positive economic data - feds agreement to provide cash and help banks make super profits continues but they get what they want - lower rates

speaking of banks - oz banks cleaning up as well with rba program - programs like jobkeeper- insanely cheap funding - cashflow boosts- state grants have definitely saved the economy - now the second large oz bank is able to do a significant buyback whilst the people accounts - federal and state go deeper and deeper into the red -

Bitcoin has moved from 28 ish in the month to 42 this morning with a vertical move last couple of weeks- huge percentage gain in less than a month

oil was 67 ish at one stage during the month but is back over 73

Europe has technically moved out of recession and huge sudden move in fx euro usd at end of month sees some wild equity and bond market moves

gold usd is up approx 40 for the month

new records in equity markets in most places but last night nasdaq disappointment they say as Amazon performance was deemed poor as it only posted its 3 rd straight 100 billion dollar net performance in the last reported quarter

Gold producer reports I saw were mostly pretty poor with rising costs and operational issues - only newcrest seemed to capitalise on the market moves but still its return in a world of low rates is super poor compared to other commodities players

Distortions market wide are amazing imo
Clearly with the continued government moves they don’t want anything to fall for any meaningful time- given the rise of the central bank programs, the market- and by that I just mean the headline numbers on indexes are seemingly safe from any sustained fall as there seems to be absolutely no limit

wild days indeed - good luck