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Recap August 11: Stock Lose $1 Trillion – Gold Outperforms Stocks in 2019 (Recap Ep031)

In this recap, we find that rising trade tensions between the United States & China pushed U.S. stocks to their worst week of 2019. Both the S&P & the Nasdaq have now erased their steep losses from Monday, the Dow still down on the week.

Mid-week the German 10-year yield hit a record low -0.60% yield. French 10-year yields slid to -0.35%, the Netherlands to -0.50%, & Switzerland to -1.00%. The Japanese 10-year yield was down to -0.20%. There is now the equivalent of $12 trillion of government issued debt, earning “0” or below interest rates globally.

For the 1st time ever, Denmark is now offering borrowers mortgages at a negative interest rate, effectively meaning that it will pay customers to borrow money. Jyske Bank, Denmark’s 3rd-largest bank, says customers will be able to take out a 10-year fixed-rate mortgage with an interest rate of -0.5%.

Uber lost $5.2B in Q2; South Korea becomes the worst major equity market for the year; battery producers & electric automakers are concerned oversupply of nickel; financial sanctions to companies linked to the military in Myanmar; great increase in the trade of precious metals.

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