July 2, 2019 - Notes From the Rabbit Hole

10/2 Yield Spread Alligator Chomping Along

The most recent tooth in this alligator's jaw is toward the flattening side as the 10/2 continues to grind out a potential steepener for 2019. It's not me saying that.…

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July 2, 2019

Gold Stocks

Gold Miner Flags A Flyin’

It's nice to see an orderly pullback in this sector because that is out of character with the pullbacks of the 2011-2018 bear market. I'll leave aside specific pullback projections,…

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July 2, 2019

Market Indicators

vs. Gold

Just another episode of that slow-moving macro drama, 'vs. Gold' (using ETFs). Spoiler: the bottom line about the pictures below is that we are still signaling counter-cyclical and we are…

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July 2, 2019