The 10 year bond yield is soaring today and it’s taking stocks down with it.
Closing in on 4.2%.
Has the Fed lost control of the bond market?
That jumbo rate cut was a disaster. Huge policy error. pic.twitter.com/fm4olPiIdm
— QE Infinity (@StealthQE4) October 21, 2024
Inflation
— QE Infinity (@StealthQE4) October 21, 2024
Oh my .. pic.twitter.com/rypxzHhhkK
— The Great Martis (@great_martis) October 21, 2024
Mother mary of Nazareth pic.twitter.com/ebgVbp8Je3
— The Great Martis (@great_martis) October 21, 2024
Back in early 2021 only one hedge fund collapsed – Archegos.
This time many hedge funds will explode, because with the VIX at this level they can't afford hedges, and they can't afford to lag the indexes at year end.
So they don't hedge. They ride the rising wedge into the… pic.twitter.com/wbLhqU7kfS
— Mac10 (@SuburbanDrone) October 21, 2024
It's a stock market. pic.twitter.com/Chi61VDMJV
— Mac10 (@SuburbanDrone) October 21, 2024
Let's try this again. pic.twitter.com/w3VKPxRkgF
— Mac10 (@SuburbanDrone) October 20, 2024
Today is the worst NYSE breadth since the August crash.
Below we see that small caps finally climbed back to the late July high and now they're rolling over again. pic.twitter.com/cUnDOnll22
— Mac10 (@SuburbanDrone) October 21, 2024
Gold’s Surge: A Warning Sign for Western Economic Dominance
Something strange has happened to the price of gold over the past year. In setting one record level after the other, it seems to have decoupled from its traditional historical influencers, such as interest rates, inflation and the dollar. Moreover, the consistency of its rise stands in contrast to fluctuations in pivotal geopolitical situations.
Gold’s “all-weather” characteristic signals something that goes beyond economics, politics and higher-frequency geopolitical developments. It captures an increasingly persistent behavioural trend among China and “middle power” countries, as well as others. And it is a trend that the west should be paying greater attention to.
Over the past 12 months, the price of an ounce of gold on international markets has increased from $1,947 to $2,715, a gain of almost 40 per cent. Interestingly, this march up in price has been relatively linear, with any pullback attracting more buyers. It has occurred despite some wild swings in expected policy rates, a wide fluctuation band for benchmark US yields, falling inflation and currency volatility.