Here are today’s market moves:
S&P 500 up 2.38% to 3,901.82
Dow Jones up 1.95% to 31,535.51
Nasdaq up 3.01% to 13,588.83
Gold: $1725
Bitcoin: $48,625
US10Y: 1.42%
What Happened?
Global risk mkts start the week on the front foot as bonds rally. Australia's 10y yield fell 25bps, German 10y drops 3bps ahead of inflation data. US 10y steady at 1.41%. Following last week’s bloodbath, easing in bond yields is big relief. Gold gains to $1757. #Bitcoin at $46.8k
In 1999, a 6-year-old chimpanzee named Raven became the 22nd most successful money manager on Wall Street. She delivered a 213% gain and outperformed more than 6,000 professional brokers
Raven chose her stocks by throwing darts at a list of 133 internet companies
When Mr. Buffett says bonds are NOT the place to be, this is what he means. The 30-year UST dropped 16.3% in price in 3 months to Thursday. That was TEN years of coupons. The 10-year UST gave up 7 years of income. Think about that. And this is with no credit risk. Duration, baby.
I've posted this before -- on the idea that 70% of startup outcomes are bad/meh -- and just 6% drive all the returns.
(From my blog andrewchen.co/venture-capita…)
BREAKING: Goldman Sachs has restarted its cryptocurrency trading desk and will begin dealing #Bitcoin futures and non-deliverable forwards for clients, according to @annairrera.
Everyone wants in on the best performing asset.
This Week
Monday: Earnings expected from Zoom, Nio, Workhorse, and Novavax.
Tuesday: Earnings expected from Target, Lemonade, Nordstrom, Ross, and Kohl's.
Wednesday: Earnings expected from Snowflake and Wendy's.
Thursday: Earnings expected from Costco; Weekly jobless claims.
Friday: Earnings expected from Big Lots; February U.S. employment report released.