We began the Amigos theme last year in order to be guided by the goofy riders during the ending stages of a cyclical, risk-on phase that was not going to…
The flattening yield curve has attended the boom in the US economy and the bull in the US stock market. A change in the flattening status will change the dynamics…
It has been a long while since the last Amigos update because frankly if the characters, images and shticks I invent to portray market status begin to wear on me…
To the 2 Horsemen (Gold/Silver Ratio & USD) we should add Amigo #3, the Yield Curve as another important macro sign to watch for. The 10yr-2yr curve is only on…
As is usually the case if these riders are going to change the macro the damage starts at ground zero, the precious metals sector. Here is the Gold/Silver Ratio (GSR)…
It's actually a look we have noted in the past, which is that a steepening yield curve can either be driven by relatively declining short-term yields and an oncoming liquidity…
The guy is a most humble and open minded market watcher. He's also the poster of oddly funny and sometimes disturbing pictures on the financial internet. Yesterday the Macro Tourist…
It has been a while since we've had a 3 Amigos update because a) Italy and global tariffs noise aside, nothing much has changed with the macro and b) I…
As you can see by the chart in Callum's post, gold and real yields have gone their separate ways. Is this to the detriment of gold? Is it a divergence…
You thought I was done with the Amigos shtick, did you? Not by a long shot ma'am. They are the happy-go-lucky riders in play as the stock bull market churns…
As symbolized by the 3 Amigos, the macro backdrop is riding on to its destiny. That forward destiny is a top in stocks vs. gold (Amigo 1), a rise in…
[edit] See also Steve Saville's discussion of the yield curve. Well, after one down day in the markets why not put up a cautionary article? Quick! Scour the internet... who's…
The yield curve is in a down trend on the big picture. This has logically been attended by economic and market stability as its message has been one of little…
The June 18 edition of Notes From the Rabbit Hole has a few less stock charts this week in order to ramp up the macro talk, which appeared periodically through…