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Morning Bid: Asian stocks eye best run since 2021

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Asian Markets News

Irrational Exuberance,Global Market,Reserve Bank Of Australia

Monday's global market moves encapsulated the 'FOMO' that seems to be fueling the ongoing risk rally - volatility, the dollar, bond yields and geopolitical...

Monitors displaying the stock index prices and Japanese yen exchange rate against the U.S. dollar are seen at the Tokyo Stock Exchange in TokyoInvestors' appetite for stocks and risk assets shows no sign of waning which, in the absence of any major market-moving economic data or events in Asia on Tuesday, should pave the way for further gains across the continent when trading gets underway.

On Monday, he and his team raised their base-case, 12-month forecast for the S&P 500 to 5400 points. That's only up around 2% from Friday's close, but 20% higher than their previous forecast of 4500. Intervention seems unlikely right now, but currency traders will not be complacent. The latest Commodity Futures Trading Commission data show that speculators reduced their net short yen positions for a third week, but not by much.The main event on the Asian and Pacific calendar on Tuesday is the release of the minutes from the Reserve Bank of Australia's May 7 policy meeting.

Michael Burry and John Paulson hit the jackpot when they called the housing crash. Now they're betting on gold.

 

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