Tuesday Becomes Wednesday

60
Wed, Sep 8, 2021 - 10:39am

In an extension of yesterday's trade, the POSX has moved higher again today and has broken back above its 50-day moving average. As a result, the Comex digital metals have again been taken to PoundTown. However, the expected support levels that we discussed in yesterday's podcast have so far held...so, there's that.

Happy Wednesday, everyone. Let's begin with the POSX. Even though bonds have rallied back a little and the yield on the 10-year note is back down 2 bps, the POSX has surged again. Again, when 57% of the index is the euro, any euro weakness drives the POSX higher. Note...

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