MM 10 December 2020

 Quotes

Markets & Macro news

Signs of euphoria

AUD would signal commodity rebound

The world gone crazy: Portugal borrows at negative rates

No wonder Junk Bonds look attractive

Bitcoin pauses

Chinese Yuan on fire

Low growth in the US highlighted by gasoline demand

Themes, Sectors & Corporate news

Doordash is a structurally loss making business model. IPOed at the high end of price range on valuation that make no sense (compared to Delivery Hero or JustEat for example), it doubles at debut. Sign of a bubble that will end very badly.

Sector internals say = recovery scenario