Markets Bounce Back, Ringing In Holiday Cheer Once Again

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 22 December 2021

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

DB-Dec21,2021:After markets were down yesterday, oil, stocks, and crypto rebounded. Goldman Sachs also recently released their new projection for oil, explaining that oil could potentially reach $100 a barrel within the next two years. TG Macro's Tony Greer, editor of the Morning Navigator, joins the Daily Briefing to discuss why he thinks not enough people own copper and update his market outlook for the last weeks of 2021. In the U.K., the Omicron variant’s rampage has led the government to offer 1 billion pounds to hospitality businesses and firms hardest hit by the new outbreak. Interviewed by Maggie Lake. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/32odI9Z Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hi there. Welcome to the Real Vision Daily briefing. It's Tuesday, December 21, 2021. I'm Maggie Lake,
0:11.2	here with Tony Greer, editor of the Morning Navigator. Hi, Tony.
0:15.3	Maggie, how are you doing today? I'm doing all right. You know, it's a funny that today's
0:19.3	almost a mere opposite of what we saw yesterday, right? We have a rebound across the board in U.S.
0:24.4	equities, the vix down, oil up the 10-year yield, finally creeping up at about 1.48. It's really
0:32.9	almost the exact opposite. What did you make of the market action? Does it feel constructive to you?
0:39.2	Yeah, today is finally, you know, for the first time since we
0:46.1	broke through the 4700 flat top in the S&P after the FOMC meeting. I forgot what day it was,
0:53.3	but we broke out up to about 4740. Markets couldn't have looked better, and then we went into a series
0:59.6	of donkey price action sessions. You know, and that's what I call when, you know, you're, you know,
1:05.2	you're kind of playing things from both side like me. You get excited that you've got to break out
1:09.9	new high, coming, looking like we're about to extend through to 4,800. And next thing, you know,
1:16.7	everything, you know, kind of gets crushed. We've got Omicron variant fears. You know, we had a
1:21.8	steep on market rally yesterday. What happened to me, it looks like it's just part of the ebb
1:28.4	and flow of this bull market, Maggie, quite honestly. We're obviously having a little bit of
1:34.4	friction here pivoting into a tightening cycle of some sort by the Federal Reserve, which seems
1:41.2	quite rational, finally, you know, to deal with, you know, a lot of the commodity inflation that
1:45.9	we're seeing. And I think that's going to be, I think the price action today is really constructive,
1:51.2	you know, I was saying to my clients last week, we saw a lot of selling and we saw a couple of
1:56.6	tick index prints that weren't really extreme in nature. So it was kind of smooth, orderly selling
2:03.5	last week. And then we came out yesterday and everybody had to be out of the stock market, you
2:08.0	know, from, from news over the weekend, from a potential, you know, Omicron scare, et cetera,
	...

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