Tamed-PCE, Talks Of Peace, & Tariff-Pausing Prompt Bid For Stocks, Bonds, & Gold
...'squeezey' day.
...'squeezey' day.
"THREE GREAT WEEKS, PERHAPS THE BEST EVER, BUT TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!! MAKE AMERICA GREAT AGAIN!!!" - Trump
...inflation's hot, too damn hot!
...the dollar, bitcoin, and gold all clubbed like a baby seal today.
"The best approach in terms of asset allocation is to find assets that can protect you"
...bonds up, breakevens up, bullion up, bitcoin up, black-gold up, big-tech up, and the buck was up too...
"...this is a chaos monkey market... they keep trying to break shit but it bounces back..."
"The stock market, needing a boost after a decent but lukewarm earnings season"
...everything was sold today - stocks, bonds, gold, crypto, even the dollar...
"It is difficult to see the 10-year yield come down a lot unless the economy slows significantly"
“The [gold] markets are in total dislocation,”
While yields were down, Breakevens surged back above 3.00% (2Y) - the highest since March 2023...
“The tariff issue is not going away as fast as one could have hoped for”
...peso, crypto, and oil all round-tripped the chaos.
“He seems to be like a poker player who’s betting his whole stash on the first hand...”
...a 'goldilocks' month for macro, but it was 'micro' that mattered...
Powell sparks 'buy all the things' day...
"The divergence trade is alive and well"
...Powell to markets - don't believe your lying eyes.
“I don’t think there’s any great desire for the Fed to become overly hawkish in their messaging"
