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What We Think About Gold 7/13/22

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10 yr below 3% already....rate cuts just aroung the corner........

5 yr yields down for the day....

10 yr yields down for the day.....

If "CPI" had been higher, even 100%, it seems that

US interest rates would immediately become Negative  yielding

real or otherwise.......

Financial Engineering at its finest (Crime Pays)

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The spin right now is:

Today was THE ultimate top in CPI. Therefore the FED will not be forced to hike much and that is good for stocks.

That would mean that the FED is not behind the curve, but the market is wrong. Since months.

Makes no sense in my view.

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Wall Street's spin, or narrative, call it what you will, is irrelevant. They can say whatever they want as an excuse to call a bottom. This will go on constantly.  

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47 minutes ago, fxfox said:

The spin right now is:

Today was THE ultimate top in CPI. Therefore the FED will not be forced to hike much and that is good for stocks.

That would mean that the FED is not behind the curve, but the market is wrong. Since months.

Makes no sense in my view.

Did they say that last month?

We know they will say it again, next month........

It is all Narrative and Agenda (Financial Repression, et. al.)

 

>: From ZH:      WSJ whisperer made it clear Powell is sticking with 75bps. (10:00 ET)

maybe, that too, among many other things, is why markets "caught a bid"

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And there is still Op EX this week....

Earnings may be coming out in the future, too.......AS IF that F'ing mattered

>: The invisible hand is all that matters......

or is that "The Moving Hand, with the middle finger extended"

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