Bond Markets Gyrate While China is on Holiday - June 11, 2013 23:20

For anyone trying to figure out why Gold cannot rally in the face of spiking bond yields and an appreciating Yen, look no further than your calendar.  The Chinese markets are closed for the first three days of this trading week and with that one of the major sources for gold demand.  For those that […]

Non-Farm Payroll Report Sends Equities Soaring - June 8, 2013 2:07

Days like today have me hearing echoes of Bob Cole on Hockey Night in Canada running through my head, “Stick Save!  And a beauty!”   The S&P 500 was well on its way to putting in  a full-blown reversal bar on the weekly chart this week with a close below 1626.40.  Considering just yesterday the markets […]

Upheaval in the Yen Pushes Gold over $1400 - June 7, 2013 0:29

Last night while the Yen was breaking down I found myself laughing at the stubborn refusal for the futures market to allow gold to print a 14 handle for hours, even though the Yen carry trade was breaking down.  Finally this morning the bulls could be held back no longer but only to pop as […]

Bonds Routed, Stocks Up, All is Normal? - May 28, 2013 22:24

As if there was ever any doubt that the central banks would not flood the world with unlimited amounts of paper as the Bank of Japan and the ECB both reaffirmed their loose monetary policies which sent equities around the world flying higher.  It is too bad, of course, that organic growth only accounts for […]

Bonds Finally Begin Calling Bernanke’s Bluff - May 22, 2013 23:15

Look, for months the Fed has been trying to have its cake and eat it too.  Every other day it seems we are treated to another pronouncement from a U.S. central banker which is intended to keep the market guessing about its intentions to end the bond-buying program known as quantitative easing.  All of this […]

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 […]