• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Not Even Close!

Tyler Durden's picture


Presented with little comment aside to ask the rhetorical question - just what is the 'value' of the consensus?



Obviously - thanks to the entirely binary scenarios of the future created by The Fed - headline data prints are really nothing but noise; and noise that shortly after their release is always revised away to suit whatever policy du jour requirements prevail.


Of course, as we noted here, it seems the sell-side just can't help itself from the optimistic mean-reverting extrapolative forecast... but what happens next?


Chart: Bloomberg

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