Enter The Debasement Trade; As Markets Claw Higher; Despite Reality Dawning…

This is our weekly market update, where we start in the US, cross to Europe and Asia and end in Australia, and cover commodities and crypto along the way. Today we ask whether the rising popularity of bitcoin and gold reflects deeper economic anxieties. And with US Government now shut down while market has historically shrugged them off some strategists said that a longer shutdown could create more uncertainty for investors and for Fed policymakers. Indeed, Treasury Secretary Scott Bessent warned in a CNBC interview on Thursday that this shutdown could hurt the economy more than those in the past. […]