Fed Doesn’t Taper QE, Gold Explodes - September 18, 2013 22:49

The Fed had a choice to make and it was an unpleasant one regardless of which side of the economic fence you’re sitting.  It could either taper bond purchases to defend the dollar versus Gold and the rising currencies of the BRICS or it could continue on as it has been, trashing the dollar and […]

Jobs Number Sends Gold Back Near $1400 - September 6, 2013 13:53

The market’s knee-jerk reaction to this morning’s Non-Farm Payroll miss — 169,000 jobs vs. expectations of ~180,000 — sent everyone intorisk-offmode as Gold spiked more than $20 on the news to trade around the $1390 level.  Silver rose $0.60 and looks like it will challenge the elusive $24 area as we approach the end of […]

The Beat Goes On — S&P Sets New Record - May 14, 2013 23:56

All of the money being printed by the major central banks simply has nowhere else to go.  Today the S&P 500 rallied again late in the session as managed money went bargain hunting with newly minted dollars, yen and euros.  The benchmark equity index closed at 1650.34 (+1.02%) while the Dow Jones Industrial Average rose […]

Bond Yields Rise On QE Tapering Rumor - May 13, 2013 22:39

Long maturity bonds from a number of important governments have been rising for the past few weeks, most notably U.S. Treasuries after hitting an interim low yield of 2.812% have risen steadily since then, closing at 3.125% today and threatening April’s high yield of 3.14%.  It is looking more and more probable that we will […]

Long Bond Yields Follow Through on Last Week’s Bearish Close - January 28, 2013 23:23

The story of last week which I should have written about was the very bearish weekly close on the 30 year U.S. Treasury Bond.  Long bond prices have been supported by the Fed for so long that even dramatic downside moves became white noise to me.  So, looking at bond future prices on Friday did […]