Charts that matter: Bond yields fall as bitcoin breaks above $ 60,000
Happy to see you again.
This week, we have exposed ourselves to the risk of an environmental backlash with our two main investment characteristics. Our cover story explores why, as we strive to create a carbon-free world while retaining all of the 21st century comforts that the developed world enjoys and the developing world craves, we still need to fossil fuels. And there’s no doubt we’re going to need it for quite a while. Andrew Hunt explains why and picks out some of the best ways to invest.
Elsewhere, Dominic Frisby looks at another source of energy that many environmental activists hate but emits little or no carbon: nuclear power. Over the past 70 years, nuclear power plants have “provided enormous amounts of reliable, affordable, ‘clean’ and renewable electricity almost endlessly,” says Dominic. The focus in the industry now is to move to small modular reactors, says Dominic. Find out all about them, and how to profit from them, in this week’s issue of MoneyWeek Magazine.
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Merryn is joined by our own John Stepek in this week’s edition of the MoneyWeek podcast. They talk about the current state of the world, with its rising inflation, its energy crisis and its threats of strikes and ask: are we going back to the 1970s? They also talk in depth about the post-Covid job market, productivity and more. Listen to the entire episode here.
Here are the links to this week’s editions of Money Morning and other web articles you may have missed:
Now for the cards of the week.
Graphics that matter
Gold rose as investors began to worry more about inflation, although it remains below $ 1,800 an ounce.
(Gold: three months)
The US dollar index (DXY – a measure of the dollar’s strength against a basket of currencies from its major trading partners) eased slightly after a month of gains.
(DXY: three months)
The Chinese yuan (or renminbi) strengthened a bit against the dollar (when the red line rises, the dollar strengthens while the yuan weakens).
(Chinese yuan in US dollar: since June 25, 2019)
The ten-year US government bond yield slipped.
(Ten-year US Treasury yield: three months)
The Japanese ten-year bond yield reflected movements in US Treasury bond yields.
(Yield on ten-year Japanese government bonds: three months)
And the ten-year German Bund yield fell too.
(Ten-year Bund yield: three months)
The copper increased sharply, as rising energy prices hampered supply.
(Copper: nine months)
Relatives Australian dollar climbed against the US dollar.
(Australian dollar to US dollar exchange rate: three months)
Bitcoin the bulls cheered as the price surpassed $ 60,000 – not far from its record high.
(Bitcoin: three months)
Weekly Initial Unemployment Claims in the United States fell from 36,000 to 293,000. The four-week moving average fell from 10,500 to 334,250.
(Initial jobless claims in the United States, four-week moving average: since January 2020)
The oil price headed even higher.
(Brent gross: three months)
Amazon recovered from the ground after previous falls.
(Amazon: three months)
You’re here continued to climb on news of record sales in China, and the company’s Model 3 sedan became the best-selling car in the UK in September.
(Tesla: three months)
Have a good week-end.