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Aktiebolaget Svensk Exportkredit Elements Linked to the SPECTRUM Large Cap U.S. Sector Momentum Index developed by BNP Paribas due Augu
When asked about what's going on in markets during today's Daily Briefing, Real Vision CEO Raoul Pal put it simply: "There's nothing going on," he said.
Pal said that overall, markets are holding steady. Some things have moved, like gold mining shares (up 34% YTD), banks (down 35% YTD), and energy (down 39% YTD).
"A simple 'sell oil, buy gold' yields you 70% returns this year," Pal said. "It's a weird world where nothing's going anywhere but everything's going somewhere. I've never seen anything like this. Gold miners are the only action in town for