{"id":60193,"date":"2021-11-01T06:29:45","date_gmt":"2021-11-01T11:29:45","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60193"},"modified":"2021-11-01T06:29:45","modified_gmt":"2021-11-01T11:29:45","slug":"weekly-commentary-losing-control","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60193","title":{"rendered":"Weekly Commentary: Losing Control"},"content":{"rendered":"

Weekly Commentary: Losing Control<\/a><\/h3>\n
Tesla\u2019s market capitalization surpassed $1.1 TN this week, the first junk-rated company with a trillion-dollar valuation. Now the richest individual in the world, Elon Musk\u2019s wealth this week reached a staggering $300 billion. The S&P500, Dow, Nasdaq100, and Nasdaq Composite ended the week at all-time highs. Microsoft retook the top spot as the world\u2019s most valuable company.<\/p>\n

October 29 \u2013 Reuters (Gaurav Dogra and Patturaja Murugaboopathy): \u201cU.S. equity funds attracted large inflows in the week to Oct. 27\u2026 According to Lipper data, U.S. equities funds attracted investments worth a net $12.99 billion, which were the largest since the week to Aug. 18.\u201d<\/i><\/p>\n

Plenty to divert attention away from critical global market developments. Ominous Bond Market Convulsions.<\/p>\n

October 28 \u2013 Reuters (Wayne Cole): \u201cAustralia\u2019s central bank on Friday lost all control of the yield target key to its stimulus policy as bonds suffered their biggest shellacking in decades and markets howled for rate hikes as soon as April. An already torrid week for debt got even worse when the Reserve Bank of Australia (RBA) again declined to defend its 0.1% target for the key April 2024 bond, even though its yield was all the way up at 0.58%. Scenting capitulation, speculators sent the yield sky-rocketing to 0.75% while yields on three-year bonds recorded their biggest monthly increase since 1994. All eyes were now on the RBA\u2019s policy meeting on Nov. 2 where investors were wagering it would call time on yield curve control (YCC) and its guidance of no rate rises until 2024.\u201d<\/i><\/p>\n

October 29 \u2013 Financial Times (Hudson Lockett and Tabby Kinder): \u201cThe Reserve Bank of Australia declined to defend its bond-yield target, a pillar of its quantitative easing programme, unleashing what one trader described as \u2018carnage\u2019 in the country\u2019s sovereign bond market…<\/i>
\n\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Weekly Commentary: Losing Control Tesla\u2019s market capitalization surpassed $1.1 TN this week, the first junk-rated company with a trillion-dollar valuation. Now the richest individual in the world, Elon Musk\u2019s wealth this week reached a staggering $300 billion. The S&P500, Dow, Nasdaq100, and Nasdaq Composite ended the week at all-time highs. Microsoft retook the top spot […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2299,7756,16861,1849],"class_list":["post-60193","post","type-post","status-publish","format-standard","hentry","category-economics","tag-control","tag-credit-bubble-bulletin","tag-doug-noland","tag-financial-markets"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60193"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60193\/revisions"}],"predecessor-version":[{"id":60194,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60193\/revisions\/60194"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}