TGIF! Gold and Silver having an outsized oversold rally after an outsized selloff week before last. Also war vibes, as escalation in Middle East war picks up. Derisking ahead of the weekend makes sense as does the selling post 30Y Treasury auction yesterday post CPI beat and continued post UMichigan sentiment and inflation expectations released this morning showing sticky/entrenched inflation as backdrop for economy in stagflation.Chases today out of the gate: JPM above 150 but it is also famous for ramp/fade.
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War Vibes
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TGIF! Gold and Silver having an outsized oversold rally after an outsized selloff week before last. Also war vibes, as escalation in Middle East war picks up. Derisking ahead of the weekend makes sense as does the selling post 30Y Treasury auction yesterday post CPI beat and continued post UMichigan sentiment and inflation expectations released this morning showing sticky/entrenched inflation as backdrop for economy in stagflation.Chases today out of the gate: JPM above 150 but it is also famous for ramp/fade.