Australian dollar skyrockets on ‘don’t fight the Fed’ – MacroBusiness

DXY was slammed last night:
The Australian dollar is a cork in the storm:
Gold jumped:
Oil fell:
Metals ground higher:
Miners were mostly stronger:
EM stocks gapped into madness:
Junk whoa:
US yields were stable:
Stcoks were anything but:
We’ve caught the express train from a dangerous double-top to verging on new highs for the bubble. The reason? Because Joe Biden can’t do anything post-election with a Republican senate the Fed will have to do MOAR so buy stocks!
Needless to say, with valuations…

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