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Bob Elliott @bobeunlimited.bsky.social · 8h

Friday took a lot of hot air out of many speculative alt coins. My favorite had a pretty shitty week, down 50% and now off 80% from the recent peak a few months ago.

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Bob Elliott @bobeunlimited.bsky.social · 13h

When I suggested to David Lin earlier this week that bonds were my dark horse pick for best return ahead I didn't expect it to play out just a few days later...

youtu.be/aDbKd0gPxlw?...

What Happens To Markets, Economy, After Government Shutdown? | Bob Elliott

Bob Elliott, CEO and CIO of Unlimited, says the US economy is slowing down but stock markets are still rising because of AI hype, so investors should consider bonds and gold for 2026. Watch Bob's…

youtu.be

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Bob Elliott @bobeunlimited.bsky.social · 1d

This shutdown is different.

bobeunlimited.substack.com/p/shutdown-r...

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Bob Elliott @bobeunlimited.bsky.social · 1d

Even before Trumps newest threat of tariffs, heighted duties were already quietly eroding household's purchasing power. My blog app piece from this week, free for all readers:

bobeunlimited.substack.com/p/tariffs-qu...

Tariffs Quiet Tax On Households

Tariff collections are up 1% of GDP and US households are footing most of the bill. With labor markets softening, the stealth tax hike is squeezing household spending at an already challenging time.

bobeunlimited.substack.com

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Bob Elliott @bobeunlimited.bsky.social · 1d

In the city early today to teach some CBS students about markets with my friend Brett House. Great case study just yesterday.

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Bob Elliott @bobeunlimited.bsky.social · 1d

Dollar weakening during the sharp stock selloff is an underappreciated dynamic of yesterday's market action.

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Bob Elliott @bobeunlimited.bsky.social · 1d

While many top HF trades took a licking today they only gave back a couple weeks of gains and remain way in the money over the last few months.

Still aways to go before the risk managers get involved in forcing cut backs. So for now PMs likely inclined to add to positions.

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Bob Elliott @bobeunlimited.bsky.social · 2d

Another failed stress test today for digital gold.

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Bob Elliott @bobeunlimited.bsky.social · 2d

Today is a good reminder to use limit orders trading ETFs in times of higher vol b/c there is a lot more liquidity *inside* what can look like a wide bid-ask spread on the screen.

But you only can access better prices if you put your order in so the market makers can hit it.

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Bob Elliott @bobeunlimited.bsky.social · 2d

$FDX and $UPS remain quite weak relative to the rest of the market, adding another datapoint that the summer surge in goods demand may not last.

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Bob Elliott @bobeunlimited.bsky.social · 2d

Guess markets do give a shit about tariffs.

Market action strongly negative US growth in response: bonds up a lot, gold up some, dollar down some, stocks down a lot.

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Bob Elliott @bobeunlimited.bsky.social · 2d

Is the Summer Surge In Goods Demand Fading?

Freight, imports, and retail indicators all show goods demand slipping after summer strength. With growth optimism high and visibility low amid the shutdown, these data suggest renewed caution.

open.substack.com/pub/bobeunli...

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Bob Elliott @bobeunlimited.bsky.social · 3d

The create / redeem process in ETFs limits the market impact of even large trades in either direction as new shares simply get created at NAV when there is enough demand, keeping the market impact minimal even with sizable flows vs. AUM/ADV.

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Bob Elliott @bobeunlimited.bsky.social · 3d

My mother is a regular reader of my blog app content but has made it clear that she only “likes the good ones.” Guess this ditty on boomer bitcoin is up her alley.

open.substack.com/pub/bobeunli...

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Bob Elliott @bobeunlimited.bsky.social · 3d

The Gold Rally Turns Speculative

Western ETF inflows have driven gold to highs as central bank & Asian demand fades. Boomer bitcoin is an increasingly crowded trade, with near-term gains reliant on the broader speculative frenzy.

open.substack.com/pub/bobeunli...

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Bob Elliott @bobeunlimited.bsky.social · 4d

After repeated poor behavior by one of our lead market makers, we made the business decision to sponsor a designated market maker to improve trading b/c for us, the most important priority is fairness to our clients regardless of their size.

www.nyse.com/market-model

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Bob Elliott @bobeunlimited.bsky.social · 4d

Tariffs cause inflation.

Forget the tortured analyses desperately trying to prove a political point. Just look at the damn data.

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Bob Elliott @bobeunlimited.bsky.social · 4d

Tariffs Quiet Tax On Households

Tariff collections are up 1% of GDP and US households are footing most of the bill. With labor markets softening, the stealth tax hike is squeezing household's spending at an already challenging time.

bobeunlimited.substack.com/p/tariffs-qu...

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Bob Elliott @bobeunlimited.bsky.social · 5d

Liquidity is one of the most common concerns folks raise about investing in early stage ETFs. Unlike single stocks, ETF liquidity is much more driven by the underlying securities than the trading in the ETF itself.

unlimitedfunds.com/whats-under-...

What’s Under the Hood? What Matters for ETF Liquidity - Unlimited Funds

Understanding the liquidity of an individual stock, bond, or futures contract is...

unlimitedfunds.com

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Bob Elliott @bobeunlimited.bsky.social · 5d

The reinstatement of healthcare subsidies now being discussed would remove most growth drags from the BBB and add a couple tenths to growth in the next year or two. A boost but not nearly enough to offset other negative growth policies in place.

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Bob Elliott @bobeunlimited.bsky.social · 5d

Japan’s New PM Won’t Change Much

Markets cheered Takaichi’s win, but there are few signs that the new PM's policy agenda will be anything more than an anemic effort to support growth, another in a long line of forgotten past leaders.

open.substack.com/pub/bobeunli...

Bob Elliott @bobeunlimited.bsky.social · 6d

Last chance to sign up for MoneyShow Orlando to catch an incredible agenda of speakers across a wide range of investment approaches. Not to be missed!

orlando.moneyshow.com?scode=066034

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Bob Elliott @bobeunlimited.bsky.social · 6d

In this blackout period we have to look to other data sources to keep track of the economy.

Notable in that context that the Chase Consumer Card spending data for September was the weakest in years, sharply decelerating from the strength this summer.

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Bob Elliott @bobeunlimited.bsky.social · 6d

Tracking the Economy in Data Darkness

With the shutdown halting reports, investors must rely on other data. Early signals of further softening in hiring and slowing spending hint the economy may be weakening just as visibility vanishes.

open.substack.com/pub/bobeunli...

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Bob Elliott @bobeunlimited.bsky.social · 7d

Modestly hawkish hold from the RBA's Bullock this week, consistent with the view that the economy is quickly responding to the easing so far.

bobeunlimited.substack.com/p/getting-a-...

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