I have uploaded a new market update podcast for June 2, 2018. Click here to go to the show archives page to listen or you can listen on the link below. I have included links to relevant articles and media on the Show Archives page. The latest show is on the top of the page.
-Gold holding up as expected, given the rise in the USDX. Commercials were net shorters for the week, however, despite the drop in price.
-The 10-year Treasury continues to hold up. The Commercial longs are at historic highs and the spec shorts are at historic levels, too. Something has to give and the commercials are usually right. This is why longer-dated treasury yields fell this week. More of the same next week?
-The US economy is holding up well, especially when compared to the other developed economies. The USDX is well supported here, but the dollar shorts have largely covered. Perhaps we take a break from further dollar rallies
-Brexit vote took place in June 2016. Nothing has happened as the British politicians have all been co-opted. The Brexit campaign reminds me of the Tea Party movement of last decade. That reminds me of Trump’s America-first campaign. That reminds me of this current Italian political situation. It gets taken over and diffused. The power gets more centralized.
-As long as Trump gives in to the globalists’ demands things will hold up domestically. My thoughts of Trump taking the blame for economic calamity may be misguided as he is giving in to every demand the globalists ask.
-The fact that the EU is being held together is testament to their power.
-Every time we experience a rise in the collapse chatter things go back to normal. Collapse chatter demonstrates the elite’s control and are just opportunities to buy the dips.
-Perhaps I have seen a few too many collapse scenarios from the alt-financial media, but their prediction success is dismal. Count Armstrong as one of those Cassandras. He’s just selling fear.