The view is and has been disinflation first, then a return of the inflationary macro Sometimes I feel as though I write the same public article over and over. But…
NFTRH 902 Interim Plan: Disinflation or Liquidity Scare? In 2023 we began planning for a disinflationary phase, and slowly but surely it arrived in the form of a volatile inflation…
The near-term path is disinflationary, but the macro is now clearly inflationary With Treasury bonds firming up lately, it is time to review the game plan NFTRH has been working…
NFTRH 897 Another Silver Antagonist In addition to the margin requirement regime initiated by CME Group, another antagonist to the silver price has emerged (TY for the heads up, DT).…
As stated for months/years now, the macro has swung big picture inflationary by the signaling in long-term bond yields. However, functionally we also have to deal with shorter-term, interim signals.…
NFTRH 893 This Time the Silver Hype Has Macro Backing I added to my PSLV position way up here in blue sky because of the bigger picture macro, not because…
NFTRH 892 Back to (semi) Normal Newer subscribers may not know that I was diagnosed with prostate cancer back in January, had surgery in February and recently completed radiation therapy…
NFTRH 890 Current Situation Last week we had 7 NFTRH+ updates, ranging from degrading U.S. market internals to the status and implications of the Silver/Gold and TSX-V/TSX ratios. You can…
As the macro backdrop evolves, our investment orientation will include more commodity-related investments and speculations It comes down to a question of when (not if, in my opinion) the broad…
NFTRH 889 Silver-led Party Likely Over For Now Note: the premise below may well be an interim signal (i.e. not nearly a long-term issue). Please consider that the Silver/Gold ratio…
NFTRH 886 Postscript: After completing #886 I want to call your attention to the bond market segment and ask you to consider, but not (yet) over-react to a nasty echo…
NFTRH 885 Reaction It was Op/Ex Friday, which market people believe increases the potential for volatile theatrics. For those of us holding what have been consistently winning cards in the…
NFTRH 879 [edit] It occurs to me that I did not begin the stroll down memory lane at the beginning. The actual beginning was my folly as an investor in…
NFTRH 877 September 17 In his Jackson Hole speech, Jerome Powell fairly well leaned to the side of a rate cut coming up at September's FOMC meeting. But interestingly, CME…