Junk Bond Echos

Hey Bueller, junk bonds are doing what?  Dropping.  Junk bonds vs. quality bonds are doing what?  Dropping.  Heading into October junk bonds and ratios did what?  Anyone?  Beuller? Look, I am not trying to come off like a wise guy.  I have been having as much trouble making sense of things as anyone else lately.  These bond spreads have been bearish for months and yet … Continue reading Junk Bond Echos

Gold vs. Oil; Fundamental Plus for Miners

Errr, this chart is starting to get hard to ignore isn’t it? It is a gold mining sector fundamental indicator. I have no clue how the jockeys using only nominal charts (i.e. the HUI is in breakdown/crash mode, hold the bearish line) and resolutely short the miners, do it. You can’t use charts in a vacuum.  There are these things out there called sector fundamentals, … Continue reading Gold vs. Oil; Fundamental Plus for Miners

Yield Curve Today

The 10-5-2 spread is rising with nominal yields reversing to up.  A little risk off’y to go with junk bonds, which are quite risk off’y. For reference, here is the 30 vs. 5 today (2 year is not live @ stockcharts.com)… Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates (including Key ETF charts) and NFTRH+ chart and trade ideas or the … Continue reading Yield Curve Today

10-2 Yield Curve w/ Gold

Here is the big picture view of the 10yr-2yr Treasury yield spread with gold shaded in the background.  People who successfully get through this bear market in gold will have done so because they tuned out hype like Indian and China demand (funny how promoters always tout the demand but never the supply, unless ranting about paper gold sales) and the Swiss gold referendum (along … Continue reading 10-2 Yield Curve w/ Gold

NFTRH; Econ Data, Markets and Gold

So the Swiss gold vote caused a sizable ruckus in gold and silver overnight.  This morning there is a nearly as sizable recovery in the metals.

The Swiss vote is an important hype component to get behind us and a positive reversal today would be notable, given the already over bearish sentiment profile (cue Citi’s Willem Buiter with a hysterical rant against gold leading in to the Swiss vote).

Continue reading “NFTRH; Econ Data, Markets and Gold”