Gold Washed Backward

Beware The Banks!

108
Tue, Mar 10, 2020 - 10:41am

In yesterday's podcast, we discussed the likelihood of a short-term selloff in the bond market and we have seen this play out today. We've also gotten word that the US is planning a series of tax cuts and other fiscal stimuli and this has enabled a rebound in the "stock market". Put these two together and it's no wonder that Comex Digital Gold is down $20 as I type.

So here are the basics:

  • the 2-yr note is up 7 bps to 0.42%
  • the 10-yr note is up 14 bps at 0.64%
  • the 30-yr bond is up 17 bps at 1.11%
  • and the DJIA is up 737 points as I
  • ...

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