This is a Goldilocks rally, not an 'inflation trades' (or cyclical) rally Today is an 'FOMC comment-free' day for me, as there is nothing surprising or new going on there…
NFTRH 749 Gold Stocks Let's get right to the sector that is primary in our forward view of the macro change that is developing (as if on cue, I might…
The inflation trades are fading and gold is ascending to its rightful place in the disinflationary macro The favored NFTRH plan is working out well as we planned the Q4…
Still Calm Various pictures indicate a still-calm underpinning beneath the market's surface. I know that it is unpopular to issue such declarations while everyone is alarmed (those stoking hysteria gain…
I hate to be swayed by a man's jawbone, but you will recall that last spring said jawbone did a lot of damage and launched a bear market. So I…
Another Positive Interim Macro Signal Last week we noted two market leadership signals, one positive (Semiconductor and Tech leadership) and one potentially negative (Healthcare relative to the broad market). The…
Observations in US pre-market Yields are bumping up again, putting further strain on bonds as would-be indications of easing inflation fears. The 10yr note has taken out its December low…
#745's Commodities segment, discussing inflation and the materials of inflation Excerpted from the February 19th edition of Notes From the Rabbit Hole (#745) Inflation & Commodities The news is full…
Inflation Redux? It is a valid question, given all the noise about inflation over the last couple of weeks. This was driven by the theoretically cost-pushing January payrolls report, CPI…
Gold ratios to cyclical assets have weakened during an interim Goldilocks phase It's just the way it is at the moment as gold's ratios to cyclical assets show an at…
Admin Welcome to the new version of the website. While there are probably some tweaks yet to be made, the nuts and bolts of it are as I'd like. Specifically,…
Has the Baltic Dry Index (BDI) lost its 6 year correlation to commodities and inflation expectations? It would appear so, the Baltic Dry Index (weekly, linear scale chart) is in…
The gold price is getting hammered, but its ratios generally are not... And that means something. Using the associated ETFs... Gold price adjusted by the silver price: not hammered. Gold/Silver…