View the 1 images of this gallery on the original article Source: Bloomberg Chart of the Day – Grams of Gold in 1 barrel of Oil. We have now pushed lower through the 1g of gold for 1bbl of oil level, which is pretty rare by historical standards....

Here are some of the recent highlights of important global leaders flying around the world to have significant meetings, which all seem to suggest that something large is potentially brewing in the changing face of the global monetary order: Putin meets...

Way too much ink has already been spilled about the QRA this week. The fact that such a focus has been played on it suggests that the Overton Window on US government debt growth sustainability is becoming more top of mind for investors and is...

View the 1 images of this gallery on the original article Source: Bloomberg The University of Michigan monthly sentiment survey shows that consumers expect much higher inflation for a long period of time.  The mean expectation for Inflation 5-10 years...

Fed speak starts up again today as we will get an update from members of the committee on their thoughts about current monetary policy amidst the recent data for April post their meeting earlier this week. We will learn where Powell stands vs. the rest of...

With US debt to GDP above 120%, deficits running 7% of GDP, US NIIP at -70%, the US government sanctioning “enemies” out of their desire to buy and add to their UST holdings, and the Fed on the sidelines with QT, the US government needs...

As we head into part 2 of the Treasury Quarterly Refunding Announcement tomorrow, I thought it may be interesting to look at the level of volatility that existed in the UST market heading into the event over the last 2 years.  Below is a table of what...

The pathway to a risk asset top goes through the introduction of dual sided risk to the Fed’s next policy decision. Removing the asymmetric bias where the bar for the Fed to cut rates is much lower than the bar to hike rates will help re-introduce...

I think one of the major reasons why the Fed has found itself in a box here where both raising rates and cutting rates may make it more difficult to achieve their dual mandate is because of the way they have dealt with the reduction of their balance sheet...

I put together a post two months ago which walked through my thoughts about how we could see a top in equity markets. You can see it here from March 13th, 2024: How Does the SPX/NQ Bubble Pop? I would say many of the concepts I thought about two months...