There’s a lot of that infuriating, “On the one hand–On the other hand,” stuff in today’s report. On the one hand, I hate when that happens. On the other hand, it is what it is.
But the good thing is that there are clear parameters that should tell us what to expect as the week begins.
With the light supply and the Fed money putting the wind at their backs, Primary Dealers got a gift on top of that. Coronavirus. The panic that induced has driven money out of stocks and into bonds. Just what they needed.
Here I was in Zadar, Croatia enjoying myself, while there was a little matter of a Fed Meeting Statement, and Chairman Jerry’s Dog and Pony show.
Wall Street was waiting with bated breath, that’s right, bated, but I had taken an afternoon stroll around the harbor, on the lookout for baited hooks. Just like walking on Wall Street. You gotta be on the lookout for baited hooks.
Gold has established a trading range with clear parameters to indicate whether it’s in trouble, or on track. Subscribers, click here to download report. Try…
Thank the Fed’s Not QE program, and light Treasury supply! Supply and demand conditions for stocks and bonds have been as good as it gets. That’s about to change.
The 6 month cycle has probably topped out but long term charts tell us to maintain perspective. Here’s what comes next.
Dealers cut back their fixed income inventories ever so slightly over the past month. They also increased their hedges, but again, slightly. They are still near historical record net long positions, and still carry historic levels of leverage.
With a bulge in Treasury supply on the way, is this where the bond market might trigger them throwing up their hands and saying WTF, despite the Fed?
Supply and demand conditions for stocks and bonds have been as good as it gets over the past month. We can thank the Fed and the Treasury. Here’s what could keep the game going, and what could send the players home, broke.
Gold’s consolidation is going according to our expectations, but there are risks. Here are the levels where it getts dice. Meanwhile, we’re still swinging with…
When the Fed pumps $100 billion per month into Primary Dealer trading accounts, we’re not dealing with a level playing field. The Fed has sharply…