Charts of the Week
Gold Bulls Still MIA Despite 11% Rally Off Lows
January 2, 2019
Despite a nearly 11% rally in gold since mid-August, sentiment is still largely bearish. Historically this proves to be a good contrarian buy signal.
Despite a nearly 11% rally in gold since mid-August, sentiment is still largely bearish. Historically this proves to be a good contrarian buy signal.
Almost half of all global sovereign debt now trades above 2%.
Selected charts and excerpts from some of our research over the past week
The British pound recently hit its lowest level versus the U.S. dollar since 1831.
For both the stock and bond markets, the first day and week of the year are often the most volatile. Even though 2018 ended with historic volatility, history suggests more to come, starting today.
Illinois and New Jersey munis have the highest yield in the country, reflecting the poor financial position of these states. But high yields have also propelled them to the top of the total return tables. This works until it doesn't.
A look at stock and bond total returns through December 2018.
Fund flows through November 2018.
Today's topics include a FOX Business appearance, corporate profits, crude oil, the Fed's forward spread, what the yield curve is telling the Fed, market themes in 2019 and hedge funds in 2019.
We believe the stock market's 7% rally since Wednesday can be attributed in large part to a belief that the Fed is done hiking. If the Fed pushes back on this notion in any way, it will not sit well with the stock market.
While we like to think presidential criticism of the Fed is somehow new, it is actually rather common.