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…
Our plan has been for 2026 "inflation trade" including a wider range of commodities. But the plan was subject to an interim market liquidity problem/deflation scare that would, not so…
2025 was was a bad one in many ways except investment (IMO & speaking personally) A silver (and gold) lining was, of course, the precious metals sector for we who…
There may be a lot of silver hype, but the bull case is now square with the macro backdrop A slightly edited excerpt from the December 14th edition of Notes…
A whiff of inflation from the Treasury market We are still in the realm of a whiff (hint, initial indication, a glint in inflation's eye) of a coming inflationary phase,…
The 10yr/2yr yield curve is taking on a steepening bias Just a little report from beneath the market's surface. If you're like me and you want to know the macro…
NFTRH 891 excerpt: Silver & Silver/Gold ratio lead a holiday event Excerpted from the November 30th edition of Notes From the Rabbit Hole: Silver, Silver/Gold & Party Time Well, it…
Gold stocks rally with the broad market, and continue leading it The gold stock sector has not been unique since the spring, when it was relatively strong while cyclical markets…
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 888 The Return of the 3 Snowmen! So here is the story. Long-time subscribers may remember that based on a breakout to all-time highs in 2010 by the HUI…
Excerpted from the November 2nd edition of Notes From the Rabbit Hole (NFTRH 887): As noted last week, I am hearing all too much talk about a market crash to…
NFTRH 887 Reality is One Thing, Markets Are Another As noted last week, I am hearing all too much talk about a market crash to feel comfortable in a bearish…
Subscriber CF pinged me about my thoughts about what might be the fallout (or lack thereof) if inflation numbers (actually, the numbers on inflation's "effects") come in higher than the…
NFTRH macro view is proceeding nicely Excerpted from the September 7th edition of Notes From the Rabbit Hole, the bullet points below illustrate past phases that successfully guided us to…