Considering our recent focus on yields and yield curves, here's one of those lunatic macro charts trying to say too much while achieving its goal of making your head spin. …
I was looking through some old monthly charts and came across one I had created a couple years ago to illustrate the confidence that the market had in the Great…
On September 1 we reviewed this chart in an NFTRH update projecting a gold sector bounce due to an over sold condition, a preponderance of gold bugs talking about an…
The Good Thursday's ISM report was Thing 1 in improving the backdrop for gold. But it was a small Thing. Friday's August Payrolls report was Thing 2, and it was…
We are getting ready to head back home from NYC, but I wanted to get you a quick view of gold's ratios to other asset markets and see if we…
Note: Squeezing in an update before heading out to NYC to move our daughter into school. See you on Friday if updates are warranted or on Sunday with NFTRH 410. …
First the Horsemen, Gold-Silver ratio (GLD-SLV) and Uncle Buck (UUP), who under normal circumstances ride together much more often than not. GLD-SLV is making a strong move. A rising ratio…
Once again, no energy left or inclination for promo (and no Roxy Music video either). After battling this thing all weekend I headed out to the high school track to…
With reference to the previous post, here is the current view of gold vs. commodities. It is just the first move of a new week, but the weekly views of…
The title of this segment is actually the subject line of an email sent by subscriber ‘RK’ on Friday, after the post-Payrolls update that included the following statement that RK…
The market had been in a consolidation/mini correction as we have been noting.
Gold is getting clobbered as it should. Let’s please keep it real, because a lot of gold bugs are not going to. The case for gold, silver and commodities rests on an inflationary phase, which strong jobs and wages would indicate out ahead. But for now, the hit to the precious metals is logical.
US yields are not aligned for the inflationary view as the yield curve sags once again today (2 year yields up, long-term yields down). Japanese bond yields have popped on,…
To little surprise FOMC rolled over again, uttering a few words about inflation being below target and riding off into the sunset until September 21. Now there is a vacuum, policy wise, in which the market can operate. I am sure that if/as the economy continues to firm or inflation signals start to manifest the usual jawbones will hit the microphone circuit, admonishing us that they stand guard, but the market seems to be marginalizing these policy making clowns where even just a year ago it was still entranced by them.
The Semiconductor Equipment book-to-bill ratio for June came out last night and it remains solid. While bookings eased a bit they remained elevated and billings were the highest since 2011. So the question of whether this earnings season should be solid for Semi Equipment companies is answered; it should be because the April-June quarter was significantly better than Q1.