parry and thrust

market vibes

October 15…)

“Fencing is the art of hitting without being hit.” Anonymous

In the news

Cautious words on both sides continue a delicate diplomatic attempt to lower the level of trade rhetoric. Trump’s initial responses have softened, and China has replied with an “open door” to keep talking.

The shutdown took a weird turn with Democrats threatening to pass a bill putting the military on unpaid furlough. A “No Kings Protest” this weekend on the Mall promises to be another bizarre episode of political self-immolation. Dude, put the shovel down.

Three Fed speakers today: Bostic, Waller, and Miran. Should be interesting. I think Waller and Miran may be red-pilling the FOMC. TBTF banks are reporting strong earnings again today. GS and JPM are the envy of the world. Heck, they rule the world.

In the markets

Another all-time high in gold and palladium greets the NY session. Silver, copper, and platinum are higher and well maintained. Stocks are nicely higher, and bitcoin is lower. Here we go.