The week begins with more Fed Goons singing from the same songbook, as if Chief Goon Powell himself has passed down orders that hawkishness must be always be expressed in order to tamp down rate cut expectations. Comex gold got the message and fell for the fourth time in five trading days thus far in 2024.
But things may get better for us by later in the week. The latest CPI is pending for Thursday and, if it comes in below expectations and <gasp> negative month-over-month, the same rate cut expectations that were tamped down again today will begin to creep back higher....
