We have argued of late that while we are positive on the U.S. equity market there are a couple of relationships that could alter that view. We can make the case that if the Japanese bond market peaked in price last month that...
Read MoreWe were wondering today whether there was any kind of ‘standard’ length of time that the equity markets rallied following a major thrust to the upside. In other words when the stock market hits bottom and...
Read MoreATLANTA -(Dow Jones)- The U.S. Federal Reserve must be open to raising interest rates to pop future asset bubbles, even though stronger regulation remains the best solution to prevent a repeat of the crisis, the Fed chief said...
Read MoreDec. 30 (Bloomberg) — Companies in the U.S. expanded in December at the fastest pace in almost four years, signaling the economic recovery is gaining speed heading into 2010. Dec. 30 (Bloomberg) — Most U.S. stocks...
Read MoreWe are going to come at the point that we wish to make today from a rather odd direction. As usual. Below are two charts of the S&P 500 Index (SPX) and crude oil futures. The chart at top right is from 1985- 86 while the...
Read MoreDec. 19 (Bloomberg) — The dollar touched a three-month high against the currencies of major U.S. trading partners as the Federal Reserve said the economy improved while reiterating it will keep borrowing costs low for an...
Read MoreStrength in the U.S. dollar over the past few days has added considerable down side pressure to the equity markets as money moves away from riskier bets. In a sense the markets are presenting investors with a replay of sorts of...
Read MoreThe problem with most intermarket relationships is that they exist- more or less- in what one might call ‘real time’. A concurrent relationship like the weak dollar and stronger commodity prices might explain what...
Read MoreWe have commented on occasion that almost all relationships that point to a bubble for asset prices have gold as the numerator. In other words… gold prices relative to most other asset classes are ‘high’....
Read MoreFollowing 2 weeks away from the markets we return to find gold prices somewhat lower. So… this is where we shall start things off today.Our view has been that gold prices have, by and large, been driven by three factors....
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