The DC Today - Tuesday, September 12, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 12 September 2023
⏱️ 10 minutes
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Summary
Today's Post - https://bahnsen.co/3PExy76
Mexico has the strongest currency in the world this year. Its stock market is on fire (near the best in the world this year), It has overtaken China as the biggest supplier of goods to the United States (did you know that?). Direct investment from foreign countries into Mexico is up +40% in 2023 alone. Do you see why I refer to “near-shoring” as much as “on-shoring“? The diminishment of supply chain dependency on China in the United States is happening. But it may prove to be much more of a Mexico story than a Rust Belt story.
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets. |
| 0:12.9 | Well, hello and welcome to the Tuesday edition of DC Today. I'm actually sitting at my desk at the New York office, our studio. |
| 0:22.3 | There's some tech issues, and so we're not going to wait around for that. |
| 0:27.0 | We're just going to jump right into recording here from the desk. |
| 0:29.9 | So that's why the change of scenery. |
| 0:31.9 | Interesting day in the market. |
| 0:32.9 | The Dow gave up a 200 point lead. |
| 0:35.2 | The Dow kind of closed pretty flat on the day, but had been up, as I mentioned, 200 points. |
| 0:40.3 | And yet you still had a really big rally in energy today and a decent rally in financials. |
| 0:46.4 | Even though the Dow was flat on the day after giving up 200 points, the S&P was down over half a percent. |
| 0:52.6 | The NASDAQ was down a little over 1%. |
| 0:55.0 | Both cases largely driven to technology being down 1.75% on the day. |
| 1:03.0 | That energy rally I talked about was up over 2 and a quarter. |
| 1:07.0 | So kind of big movements in the ups and down, the highest, the biggest gainers, biggest |
| 1:13.6 | losers and yet net net, not a major substantial move at the end of the day. |
| 1:20.6 | In fact, in the bond market, the 10-year treasury yield was only down 1.6 basis points. |
| 1:26.6 | So you had a little bit of an increase in bond prices on the long end of the curve. |
| 1:31.2 | Yields were a little higher on the short end. |
| 1:33.4 | And so mixed bag, but pretty flattish in bonds as well. |
| 1:36.9 | Oil prices, they closed to almost $89 on WTI crude. |
| 1:41.5 | We're definitely knocking on 90s door. and that was up 1.83% today. |
| 1:49.2 | I think just kind of going around the world real quick, Kim Jong-un, the North Korea dictator |
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