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…
It ain’t rocket science. The Fed drives liquidity and stock prices are the first order effect because that’s how monetary policy transmission is designed.
Federal revenues softened in December. That could be just a blip, or it could be the first signs of a looming recession. It’s bullish if…
The Fed has monetized 99% of the Federal Debt since it started Not QE. That’s been bullish. Here’s what to look for and how to…
Gold is in a normal post breakout pullback. While some of our mining picks were stopped out with small profits, there are still a few…
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