The composite PMI declined from 50.4 to 49.5 in May, indicating that the eurozone is falling back into stagnation. It's worrisome that the main culprit is the service sector, which has long been the...
Gold Rises on Demand for Safe-Haven Assets The gold (XAU/USD) price rose by 0.77% on Wednesday amid growing concerns over the US fiscal outlook. Investor risk appetite diminished after a proposed US...
Stocks are expensive, bonds are cheap... Following the tariff tantrum, turnaround stocks are up and bonds are down — and we’re right back to stocks being expensive (+bonds cheap) again. Charts like...
Consider the 10-year Treasury yield and the dollar index (DXY) over the past six months: Figure 1: DXY (blue, left scale), and 10-year Treasury yield, % (green, right scale). Red line at “Liberation...
Gold, Bitcoin Key Points Concerns about the rising US debt and prospects of continued large deficits are intensifying, driving yields, gold, and bitcoin higher. Gold has little in the way of...
The USD/JPY currency pair has emerged as one of the most notable movers in the forex market, experiencing robust bullish momentum amid rising US Treasury yields and Japan's continued commitment to...
The S&P 500 fell sharply yesterday, dropping by around 1.6%, following a weak 20-year Treasury auction, which sent bond yields soaring. None of this should have been a surprise, as I highlighted...
Gold prices have reclaimed the $3300/oz handle but there are growing signs of exhaustion as the precious metal looks to consolidate gains. The rally has been spurred on by US Dollar weakness while...
Almost there. At least that’s what it seems like based on today’s charts. There is some action in all of them, but the two ones provide key information: the S&P 500 Index futures chart and the...
Even though the business press likes to obsess over the ponies stocks, as we saw with Trump’s tariff climbdown, it’s the bond markets that hold the whip hand. Yes, we understand full well that...