The hardening of the peoples money in a time of hyper softening of money of infinite feel it and who steps into the rink into the big coin rink with all of the arguments that weve been making for the past 09 years about bitcoin here on this show well Paul Tudor Jones buys the queen with reminder of gold in 1970 s. Maclin best for Paul Tudor Jones is buying big coin as a hedge against inflation he sees coming from Central Bank Money printing telling clients every mind him of the role gold played in the 1970 s. He says quote the best profit maximizing strategy is to own the fastest horse this is incredibly big news Paul Tudor Jones is a seminal figure in the Hedge Fund Industry in the money manage an industry going back to the early 1980 s. Even before and hes got about 40000000000. 00 hes got a position now and because in the low Single Digits we know that typically his style is to scale into a position so i expect him to be 5 or 10 percent of that plus he is the ultimate alpha dog in t
Attention to that, with the ecb coming up thats a huge deal. Delivers more stimulus, and the bcp will be really under pressure, down by 4 10 of 1 , but its all about the dollar and its driving Global Equities higher. And the tension between the weaker dollar driving risk themete, and the overall has been the protest here in the u. S. Under covid. Lets break down that disconnect. Torsten, what is your best explanation for the markets versus the headlines . We have discussed why markets are doing well, and we continue to believe that the answer is on the significant firepower coming from the fed. If you change the credit market as dramatically as they have , i spreads are very close to where they were before. All of that is, in plain english, making this look a lot better today than it did a month or two ago. And you have the equity of companies with the support to the credit markets, this is probably an important reason why the equity markets continue to do well. Think the fed is making
British pound sterling. Lots of development in europe, including the 750 billion euro package, a combination of loans and grants. We will get to that in a moment. Essentially, that massive edge helping to narrow spreads, so the italygermany 10 year spread in seven basis points at 1. 91 . Matt the china story obviously a huge one that markets didnt look like they were pricing and until now. The european rescue package was a story that markets had priced in already. It was 500 billion last time arco spoke. Today it has grown a little bit, with another 250 billion euros attached to it or get still, 500 would be the number in grants. Overall, it doesnt look like that is doing much. In terms of the stoxx 600, it is down. The dax is up or than 100 points again. One of the big reasons is daimler. Renault is up 16 . Macron has unveiled a 5 billion euro loan guarantees to renault. No direct help to daimler, but theres going to be incentives in france to buy a new car, 7000 if it is electric, an
Down more than 1 earlier on. We have a weakening offshore yuan, which is notable, because it had been strengthening. Brands, the best performer, surprisingly in the s p 500. It is closing 23 of victorias secret stores. Automobiles doing well today. Lets get a deeper dive into todays market action. Standing by we have taylor riggs. Taylor mostly risk off tone, bonds catching a bid. Gold is slightly weaker, but yesterday was higher. You also have the south african relative to aning weaker dollar, after the Central Bank Cut its key rate less than most. Also playing is crude, up for six straight sessions. You are seeing some of this go back to fundamentals. Prices had gotten so low, demand is starting to come back. Continuing to trade above 33 a barrel or the second straight session. It is the highest now going back to march 11, before the lockout started. Taking a look at the individual stocks, you mentioned l brands. They will try to split up victorias secret and that embody works. Bath
The hardening of the peoples money in a time of hyper softening of money of infinite feel it and who steps into the rink into the big coin rink with all of the arguments that weve been making for the past 09 years about bitcoin here on the show well Paul Tudor Jones buys the queen with reminder of gold in 1970 s. Maclin best for Paul Tudor Jones is buying big coin as a hedge against inflation he sees coming from Central Bank Money printing telling clients every mind him of the role gold played in the 1970 s. He says quote the best profit maximizing strategy is to own the fastest horse this is incredibly big news Paul Tudor Jones is a seminal figure in the Hedge Fund Industry in the money manage an industry going back to the early 1980 s. Even before and hes got about 40000000000. 00 hes got a position now a big coin in the low Single Digits we know that typically his style is to scale into a position so i expect him to be 5 or 10 percent of that plus he is the ultimate alpha dog in the