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Yahoo BusinessAug 05, 2020
Bulls Bet That Bond Market's Trillions Are Now Coming for Gold
(Bloomberg) -- For unabashed gold bulls, there are trillions of dollars in the bond market just ready to snap the metal up in a world short on hedges but big on risk.Spurred on by real yields at record lows and monetary dangers ahead, asset allocators are primed to start ditching some of their government debt holdings, the theory goes. Given the size of the fixed-income universe, it wouldn't take much to power the gold price to fresh and dizzying highs.Managers like Plurimi Wealth LLP's Chief Investment Officer Patrick Armstrong are a case in point. Armstrong has cut back on bonds and now holds 7.5% of the firm's balanced portfolios in gold -- the most ever. He also started buying gold-mining equities in March. The allocation shift is an about-turn for the investor who was shorting bullion five years ago when prices languished near $1,100 an ounce compared with $2,040 today."The reason I want to hold gold is because the future is just going to be a continuation of what's happening now: more money printing," he said.If more fund managers start thinking like him, it would fulfill the dreams of gold bulls who argue that more folks on Wall Street should see the metal as an essential part of portfolio building rather than a niche and speculative asset that's beloved by coin enthusiasts and doomsday preppers.Investors Rethink ‘60/40' as Low Bond Yields Test Portfolios Gold positions in ETFs and the Comex represent about 0.6% of the $40 trillion that's invested in funds globally, according to data from UBS Gr

MarketWatch MarketPulseAug 05, 2020
Disney shares surge nearly 10%, and some ETFs go along for the ride
Exchange-traded funds with big holdings in Walt Disney Co. jumped Wednesday, with some adding to gains that put them on track for their best week in over a month. Disney shares were up nearly 11% at midday after a stronger-than-expected earnings report Tuesday night, pointing to a diversified revenue mix that shielded the company from the worst of the tourism slump. The SoFi 50 ETF , with 4.9% of its portfolio in the company, was up 1.2% at midday, outpacing the 0.6% gain in the broader market , while the Invesco Dynamic Media ETF , with 4.3% in Disney, was up 0.8%. Both were on track for a 4-week high. The iShares U.S. Consumer Services ETF was up 0.5%. It has a 4.3% weighting in Disney, but nearly 10% of its portfolio in Amazon.com Inc. , shares of which were up 1.3% at midday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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