Since February 1 it’s all one market arrayed against one market, Uncle Buck. Maybe it should be called the ‘all but one market’ market. Whatever…
By Tom McClellan
Chart In Focus
Bond Yields Say More Downside For Dollar
November 15, 2013
The Chicago PMI blew everyone’s sox (<—typo not intended, but I’ll leave it, considering… ) off and tomorrow we have the national ISM, which has been very strong the last couple of releases. Typically, this strength got the ‘taper’ blow horns going again today.
Contrary to this hair brained declaration by a talking head on CNBC (“I like the dollar; it’s going to kill gold for sure and I think it’s great for American corporations”) the US dollar has dropped and American corporations like it just fine. That is because American corporations like inflation against a
defl err disinflationary backdrop just fine.
#261 was just mailed to subscribers. It took 10 less pages (than last week’s extended exercise) to make some clear points, especially about what NFTRH is and is not bullish on in the intermediate to long term. This is in contrast to some curious conclusions I have seen drawn on the internet about last week’s publicly available excerpt that discussed gold and the stock market.
NFTRH 261 – focused viewpoint and all – out now.
Some smart guy talking to a blonde spokesmodel babe on CNBC:
“I like the dollar… it’s going to kill gold for sure and I think it’s great for American corporations.”