HFT Giveth, HFT Taketh Away

Fri, Apr 9, 2021 - 10:46am

It's another day in AlgoHell as HFT computers dump Comex metal futures following a much hotter that expected print of the March PPI. The Machines "see" rising bond yields and are programmed to sell Comex gold because of it...impervious to the bigger picture.

So we'll start there, I guess. The March PPI came in smokin hot at +1.0% MoM and +4.2% YoY. Recall how we've been discussing the dropoff of March 2020 and replacing it with March 2021 in the YoY calculation? Well here you go:...

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