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The charts that matter: bond yields turn back up and a new bitcoin record
Bitcoin hit a new all-time high, while government bond yields turned back up. Here’s how that has affected the charts that matter most to the global economy.
This week, we’re looking at the labour shortage. Workers are leaving their jobs at an astonishing rate, especially in the US – 4.3 million of them in August, that’s 2.9% of the workforce. Simon examines what’s behind the mass resignations, and what it all means for the economy.
Elsewhere, Matthew Partridge looks at investing in railways. They had a dismal pandemic as people stopped commuting yet, even though it may be unlikely that we’ll fall back into the same working patterns, it’s not all doom and gloom. Railways aren’t all about commuters – governments want more of us to take the train for long-distance journeys, and rail-freight – which accounts for much of rail companies’ revenues – has been largely unaffected by lockdowns. There are plenty of opportunities for investors, and Matthew picks some of the best in this week’s magazine. If you’re not already a subscriber, sign up here and get your first six issues free.
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Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Merryn is joined by Andrew Hunt in this week’s podcast. You may have seen his feature on fossil fuels in last week’s magazine. Andrew’s a “deep value” investor, finding companies in the unfashionable corners of the market where many institutional investors fear to tread. He’s got lots of ideas on what to buy – listen to the what he has to say here.
Gold attempted to regain lost ground, but can’t manage to get above $1,800 an ounce.
(Image credit: Gold price chart)
The US dollar index (DXY – a measure of the strength of the dollar against a basket of the currencies of its major trading partners) fell further, though it bounced towards the end of the week.
(Image credit: US dollar index chart)
The Chinese yuan (or renminbi) strengthened further against the dollar (when the red line is rising, the dollar is strengthening while the yuan is weakening).
(Image credit: USD/CNY currency chart)
The yield on the ten-year US government bond started climbing again after dipping last week.
(Image credit: US Treasury bond yield chart)
(Ten-year US Treasury yield: three months)
The yield on the Japanese ten-year bond tailed off after earlier gains.
(Image credit: Japanese government bond yield chart)
(Ten-year Japanese government bond yield: three months)
And the yield on the ten-year German Bund climbed tantalisingly close to positive territory, bubbling under at -0.09%.
(Image credit: German government bond yield chart)
Copper dropped – could the supply squeeze be fading?
(Image credit: Copper price chart)
The closely-related Aussie dollar mirrored copper’s movements.
(Image credit: AUD/USD currency chart)
Bitcoin investors were cheering as the cryptocurrency surpassed its previous highs to hit over $67,000.
(Image credit: Bitcoin price chart)
US weekly initial jobless claims fell by 6,000 to 290,000. The four-week moving average fell by 15,250 to 319,750.
(Image credit: US initial weekly jobless claims chart)
Tesla continued its seemingly unstoppable rise, hitting $894.
(Image credit: Tesla share price chart)
Have a great weekend.
Ben
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