While the past week witnessed more of the same in terms of increases in broad equity gauges, signs are beginning..
The past week saw a massive return to risk markets, with volatility getting crushed as well as short sellers running for the hills. In particular, Thursday was a spectacular day, with the US dollar plunging as the euro, Australian dollar and Swiss franc skyrocketed. We continue to believe that the situation in Europe will spark problems down the line, and view the current rally as an ideal time to enter bearish trades.
The past week saw the third straight weekly gain for the S&P 500, as well as a continued rally of..
The past week saw a massive rally in risk asset prices. Since the bottom on October 4th, the S&P 500 is up 14%, the Nasdaq 100 up 16%, Brent and WTI crude up 16%, and copper up 15%. To be sure, risk asset prices experienced their strongest rally since the rally off of the March 2009 lows.
However, in the same time period, the CRB RIND rallied only 1.1%. The following charts show the CRB RIND and the GSCI Index.
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