Goldman Commodity Traders: Gold Buying On Our Desk Has Been Relentless, And Silver Is Starting To Move Too zerohedge.com/markets/goldma…

'Investors are significantly underweight China equities.' thedailyshot.com/2024/09/24/bei… via (((The Daily Shot)))

What are the drivers of the current rally? This chart is based on Bloomberg’s attribution model. @soberlook dailyshotbrief.com

Monetary and fiscal policy should be working together.

Aust Aug inflation fell to 2.7%yoy from 3.5% with rebates pushing electricity -14.6%mom & fuel -3.1%mom. The RBA will look thru this as temporary & focus on the underlying trend. But even here the news is good with trimmed mean inflation slowing to 3.4%. Rate cuts getting closer!

..putting the distorted headline reading of 2.7%yoy aside, the resumed downswing in the the trimmed mean and CPI ex volatile items indicates that disinflation has resumed in Australia. Much like it did in the US after higher readings earlier this year!

Electricity prices fell 14.6%mom in Aug as rebates impacted. Absent this electricity prices would have risen 0.1%mom. Of course this impact is temporary & prices will bounce back unless the rebates are extended or wholesale electricity prices fall. Fuel prices -3.1%mom ABS charts

#ASX #XAO 1 year highs $LYC $OPT $PXA 2 year highs $ARB $CAJ 4 year highs $GEM all time highs $AAI $IPX $NEM $PNI $WAF Capital & dividend adjusted

#ASX #XAO 1 year lows $MP1 3 year lows $WBT 4 year lows $SPK all time lows $PAR Capital & dividend adjusted

The spread between the Conference Board’s expectations and current conditions indices is rebounding, a pattern typically seen at the onset of recessions.

The US equity market capitalization is approaching 50% of the global market cap.

Headline inflation estimates remain very tame for September according to the Fed's CPI Nowcast reading. Current estimate is for an increase of 0.11% MoM on headline CPI and note that YoY PCE is set to come in at 2.06%. 0.02% lower and it'll round down to the Fed's target 2%.

US GDP has continued to grow through both red and blue presidents. Like the stock market, the economy doesn’t care who occupies the White House either.

China is not done stimulating.

How to make $10 billion dollars: - Raise $50 million from Elon Musk to start a nonprofit - Tell everyone you are doing this for the sake of humanity and raise billions - Convert from non-profit to for-profit and grant yourself equity

*CHINA WEIGHS INJECTING $142 BILLION OF CAPITAL INTO TOP BANKS

#ASX #XAO 1 year highs $IDX $IPL $LYC $OPT 2 year highs $ACL $ARB $CAJ $CNI $HUM $PBH $ZIP 3 year highs $CDA $EVN $PYC $SSM 4 year highs $AGL $GEM all time highs $BRG $NCK $PNI $QAN $SFR $TUA $WJL $WTC Capital & dividend adjusted

Fluoride in Water Poses “Unreasonable Risk” to Children, Federal Judge Rules The “conspiracy theorists” were right again. Judge Edward Chen has ruled that the Environmental Protection Agency (EPA) MUST take action on water fluoridation. He found that fluoride poses an

Today's Economic Indicators Results GDP: 3.0% vs 2.9% est.🟢 Personal Consumption: 2.8% vs 2.9% est.🔴 GDP Price Index: 2.5% vs 2.5% est.🔵 Core CPE Price Index: 2.8% vs 2.8% est.🔵 Durable Goods: 0.0% vs -2.6% est.🟢 Durable Goods Ex Transports: 0.5% vs 0.1% est.🟢 Initial

Silver hits highest price in more than a Decade 🚨