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Market liquidity is draining from different vantage points
On Wednesday I made a post that showed the “metallic credit spread” (as coined by Bob Hoye) known as the Gold/Silver ratio (GSR) flipped on its head (to Silver/Gold) to indicate a dangerous situation for the S&P 500, if past is prologue. Here is that post and here is the Tweet that followed…
The 30yr Treasury yield has made its right side shoulder
Of course there is inflation.
We see it everywhere; the Fed’s printed (funny) munny and the government’s cost-pushing into the economy. Everybody knows that inflation is here and everybody has known since March when the last guy, still sitting on his couch playing lockdown era video games, figured it out.
And then ZeroHedge called the top with an assist from Larry…
The big economic data this week comes on Wednesday and Thursday mornings, at which time we get the latest data on how “transitory” inflation is behaving.
Because, as a reminder, the Fed’s insistence on providing trillions of dollars of fresh wealth to their billionaire friends is ostensibly to goose up inflation, which in turn is ostensibly oh-so-good for the average Joe, whom of course is Jerome’s main concern. Because, you know, dual mandate. After all, inflation has been utterly flat for decades, particularly once Dick Nixon took hold: