My Commentary on today’s action.
Today may be a watershed moment.
We have DXY and Ten Year Bond yields (TNX) up big. Normally, we would expect metals to be smashed. However, we instead see a huge rally. If bond yields continue to rise bigly and metals go with it then the worm has turned. We are going to witness the late 70s style metals market that we have been waiting for since before I had any gray hair. Crypto will follow suit as well.
The Fed is now trapped with the highest CPI in over 20 years.
Normies have no idea what is about to happen. They are stuck in normalcy bias.
I think you are right Doc. !
Saw snow shovels in Canada Tire for 60 bucks yesterday, everybody goosing prices just because now.
Time to stop throwing stuff away..and fix it