Market Trends & Economic Outlook - The market experienced a V-shaped recovery since April, supported by solid economic data [2] - The Fed lowered its GDP forecast and raised its inflation forecast for the second time this year [2] - Investors anticipate some impact from tariffs, but it's largely discounted in the market [2] - The market is expected to be rangebound in the near term due to a lack of immediate catalysts [6] Investment Opportunities & Risks - Gold (GLD) has had a significant run, up over 26% year-to-date, but may experience a pullback in the near term [7] - Central banks are structurally shifting foreign currency reserves out of the dollar and into gold [9] - Emerging markets central banks have increased their gold buying by five times every year [11] - Cybersecurity (CIBR) is a secular theme, with the cybersecurity ETF outperforming the S&P [14] - Cybersecurity threats are expected to become more sophisticated and intense, making companies like Crowd Strike and Palo Alto core portfolio holdings [15] Geopolitical Factors - The Iran-Israeli conflict seems contained and is not expected to have a major market impact [6] - Russia's invasion of Ukraine in 2022 and the freezing of their $300 billion in foreign reserves prompted central banks to diversify into gold [10]

All right. Well, even with the bid for treasuries and the US dollar today, Bank of America's new global fund manager survey sees falling demand for US assets, it also finds investors are more underweight the dollar than they've been in two decades. Our next guest sees this as a potential game-changing moment for the greenback.Peter Bookar is the chief investment officer at Blekeley Financial Group. He's also a CNBC contributor. Peter, great to have you with us.you know, with the dollar with the spade of dol ...

Market Overview - The Shanghai Composite Index fell by 0.25% to 3377.0 points, with a weekly high of 3413.51 points [1] - The Shenzhen Component Index decreased by 0.6% to 10122.11 points, reaching a high of 10295.4 points [1] - The ChiNext Index rose by 0.22% to 2043.82 points, with a peak of 2076.91 points [1] - In global markets, the Nasdaq Composite dropped by 0.63%, the Dow Jones Industrial Average fell by 1.32%, and the S&P 500 decreased by 0.39% [1] - In the Asia-Pacific region, the Hang Seng Index increased by 0.42%, and the Nikkei 225 rose by 0.25% [1] ETF Market Performance - The median weekly return for stock ETFs was -0.19% [2] - The highest weekly return among scale index ETFs was 1.28% for the China Asset Management CSI 500 Enhanced Strategy ETF [2] - The highest weekly return in industry index ETFs was 4.48% for the Penghua National Oil and Gas ETF [2] - The highest weekly return in thematic index ETFs was 6.99% for the Fuguo CSI Hong Kong-Shanghai Innovation Drug Industry ETF [2] ETF Liquidity - Average daily trading volume for stock ETFs increased by 19.9%, while average daily turnover rose by 14.1% [6] ETF Fund Flows - The top five stock ETFs by fund inflow were: - Jiashi CSI 500 ETF with an inflow of 340 million yuan - Penghua National Wine ETF with 339 million yuan - Huaxia SSE STAR 50 ETF with 271 million yuan - Guotai National Military Industry ETF with 225 million yuan - Fuguo National Military Industry Leader ETF with 221 million yuan [9] - The top five stock ETFs by fund outflow were: - Huaxia SSE 50 ETF with an outflow of 635 million yuan - Huatai-PineBridge CSI Dividend Low Volatility ETF with 369 million yuan - Invesco CSI A500 ETF with 297 million yuan - Jiashi CSI 300 Dividend Low Volatility ETF with 279 million yuan - Huaxia CSI A500 ETF with 262 million yuan [10] ETF Financing and Margin Trading - The financing balance for stock ETFs decreased from 40.7357 billion yuan to 40.2446 billion yuan [11] - The highest financing buy amount was 470 million yuan for the Huaxia SSE STAR 50 ETF [11] ETF Market Size - The total market size for ETFs reached 41,626.28 billion yuan, a decrease of 17.23 billion yuan from the previous week [14] - The stock ETF market accounted for 71.1% of the total ETF market size [16] ETF Issuance and Establishment - No new ETFs were issued last week, but two new ETFs were established: Huabao CSI Pharmaceutical ETF and Fuguo National Consumption Theme ETF [17] Institutional Views - Founder Securities noted that the systematic valuation increase in the innovative drug sector is the biggest catalyst for industry allocation recovery, driven by leading companies entering profitability and R&D pipelines generating regular income [17] - Huaxin Securities expressed a bullish outlook on gold prices due to rising geopolitical risks in the Middle East, suggesting that while short-term spikes may occur, long-term factors like real interest rates and global uncertainty will dominate gold price trends [17]

Think there are a couple of things here. First, an agreement, you know, can is remarkable. And it's a fantastic book that the dollar is a reserve currency.People hold it because it's a store of value. It's useful in trade and financial markets. It delivers privileges to the U.S., lower borrowing costs and more importantly, the ability to borrow a lot more.Tom, I do think we want to put this in context. I don't see and I don't think Ken does, based on what he's written, I don't see the dollar losing that sta ...

There's the dollar melting away below 98. It's now at its lowest level since March of 2022, and it's down about 10% against a basket of currencies year to date, as you can see there. Outflows fueled by the president's trade policies, rising odds of a Fed cut, and more.Our next guest, though, knows it's good news for another asset class, the rise of crypto. Mike Novagrath is founder and CEO of Galaxy Digital. They also had an IPO lately, Mike.Uh, it's good to see you again. I think what was the high we hit o ...

U.S. Fiscal Outlook and Treasury Market - The U.S. faces an unsustainable fiscal path, with the interest expense becoming untenable due to high budget deficits and sticky interest rates [1][4] - The average coupon on Treasuries has risen from below 2% to pushing 4%, creating a building problem as trillions of bonds mature and are re-issued at higher rates, a difference of 400 basis points [4][5][6] - The long-term Treasury bond is no longer behaving as a legitimate flight to quality asset, and is not responding to lower interest rates or an inflation rate around 25%, with potential for it to go higher [6][7] - The U.S national debt is approaching $37 trillion, requiring creative solutions, and markets are starting to acknowledge this [7][8] Investment Strategy and Market Dynamics - A paradigm shift is occurring where money is no longer flowing into the United States, and the long bond is not acting as a flight to quality asset, with gold emerging as an alternative [16] - The dollar is falling, and some of the $25 trillion net investment position that flowed into the U.S over the past two decades could potentially flow out, suggesting increased allocations to non-dollar investments [9][10] - The market environment feels similar to 1999 (dot-com bubble) and 2006/2007 (pre-credit crisis), with AI enthusiasm mirroring the dot-com boom [21][22] - A great buying opportunity is anticipated, but the timing is uncertain [21] Private Credit and Alternative Investments - There is overinvestment in private credit, and the excess reward is not as attractive as it once was, potentially leading to forced selling [32] - Gold has proven to be a source of growth, outperforming Bitcoin year-to-date, and is recommended as an asset class, with central banks accumulating gold [16][17][50] - Dollar-based investors should consider investing in foreign currencies and selective emerging market equities, as the S&P 500 is underperforming MSCI Europe year-to-date [51][52] Restructuring and Long-Term Themes - There is a need to restructure various aspects of the system, including institutions, political parties, and finances, due to wealth inequality and calcified property relations [42][46] - India is highlighted as a long-term investment theme, with a similar profile to China 35 years ago, benefiting from demographic outlook, supply chain shifts, and technology [48][49]

Market Trends & Investment Opportunities - The market is experiencing a paradigm shift where the long bond is no longer considered a flight to quality asset, with gold emerging as the preferred safe haven [2] - Gold has surged from $1,800 per ounce to over $2,000 per ounce, indicating strong investor interest [2] - Central banks are accumulating gold, reversing a decade-long trend of selling, suggesting a change in their investment strategy [3] - Gold is now viewed as a legitimate asset class, attracting a broader range of investors beyond survivalists and speculators [3] Monetary Policy & Fixed Income - The Federal Reserve's rate cuts in September 2023 led to a significant increase of 100 basis points in the yield of the 30-year Treasury bond [1] - The speaker anticipates this trend may continue, suggesting a potential inverse relationship between rate cuts and long-term Treasury yields [1] Central Bank Behavior - Central banks previously sold gold at prices as low as $300-$400 and are now buying it back at around $3,000, highlighting their poor long-term investment decisions [4]

You can't replace gold with Bitcoin, right. I can't make jewelry out of Bitcoin. I can't conduct electricity with Bitcoin.I mean, they make Bitcoin look like gold. When they draw it, it's a they make it gold and they put a bee on there and it's a coin, but it's just a string of numbers. It's not a coin.It doesn't have any color. How do you really see it compared to gold. It's nothing like gold.And I'm a true Bitcoiner there. I'm holding it down to zero. I'm going down with the ship like everybody else. ...