Watching Bonds and POSX

Thu, May 13, 2021 - 10:22am

After yesterday's knee-jerk reaction to the CPI, we are fast approaching a moment of truth. Will rates continue higher and take the POSX with them or will we soon see reversals that place both back onto downward trajectories? Answer that and you'll know where the Comex PMs are headed in the short term.

So far today, this appears to be working out in our favor. Again recall that it took 48 hours after the April CPI release for CDG to respond higher. And why did it eventually rally over $100 in the month that followed? Because interest rates actually FELL and the POSX went down,...

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Key Economic Events Week of 6/21

6/21 9:45 ET Goons Bullard and Kaplan
6/22 2:00 ET CGP on Capitol Hill
6/23 9:45 ET Markit flash PMIs for June
6/24 9:30 ET Durable Goods
6/24 9:30 ET Q1 GDP final guess
6/24 9:30 ET Goons Bostic and Harker
6/24 11:00 ET Goon Williams
6/24 1:00 ET Goon Bullard again
6/25 8:30 ET Personal Inc and Spending
6/25 8:30 ET Core PCE
6/25 10:00 ET UMich Consumer Sentiment

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