vs. SPY, Global Edition

A look at some daily charts of global markets/ETFs vs. SPX/SPY. Same rules apply as with the US sectors; it’s not TA, it’s a gauge of relative trend. In this case, daily. Europe/US is and has been bouncing. Russia/US is and has been steadily up trending. China (large caps)/US (large caps) is and has been sideways/neutral with an upside bias (per the moving averages). EM/US … Continue reading vs. SPY, Global Edition

Gold and the Yield Curve

As you can see by the chart in Callum’s post, gold and real yields have gone their separate ways. Is this to the detriment of gold? Is it a divergence for coming changes in yields? Is the disconnect due to the fact that the macro has completely changed since the US election? We have been noting that fiscal inflation/reflation policy has replaced monetary inflation/reflation policy, … Continue reading Gold and the Yield Curve