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Despite repeated rhetoric from Beijing that the renminbi’s rise would be slow and orderly, this snowball appears to be gaining real momentum, as evidenced its past month’s performance versus the buck. Beijing is now admitting that curbing inflation is their top priority: China’s yuan traded near a 17-year high after the central bank reiterated its […]
This shot says it all – the “all the same markets” hypothesis is still in play. Why bother with diversification when all the markets move in tandem? (Source: Barchart.com) Hat tip to Robert Prechter, who I believe was the first to point out the increasing correlation between every asset class, as far back as 2004. […]
From London’s The Independent comes the latest report of the dollar’s impending implosion – in an article fittingly titled The Demise of the Dollar. In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving […]
Three weeks ago, we discussed the possibility the the dollar was bottoming and poised for a major rally. My reasoning was that: Sentiment was overwhelmingly negative on the buck. I noticed that even traditional contrarian investment sources appeared to be piling on. When there’s nobody left to sell, that’s usually a good sign that the […]
Over the past week, we’ve been investigating dollar sentiment, which appears to be overwhelmingly bearish at the moment. I was surprised when our dollar sentiment survey revealed that only 56% of readers were bearish on the dollar. After seeing bearish readings north of 90% in some places, and anecdotal evidence to support these #’s, I […]
The screens were flashing all green today, as our noted “all or nothing” trade resulted in everything moving up today! Except for? The dollar, of course! This screen shot from Barchart.com reflect a bull market in, well, everything! Of note, Treasuries were up today – who the heck is still buying these things? A mystery […]
It’s another “all or nothing” day in the markets – with equities down, the US Dollar and Japanese Yen are, of course, up. This time joined by – surprise – our old friend, the Australian dollar (ugh – got chased out of that position too early 🙁 ) Looking at a 6-month chart of the […]
I’ve come to the conclusion that in roughly March of 2008, the general tide shifted from inflation to deflation for the first time since World War II. Since that shift, everything we have seen has been pretty much deflationary. Oil is half of where it was about a year ago. Ditto for corn and soybeans. […]
It might be time for us to grab a pint…and short one of our favorite whipping boys once again. The British Pound – the only currency that may actually be sicker than the US dollar (two turds circling the bowl really) – looks like it’s recent rally may be running out of steam. Grab a […]
“Because they are printing money,” he says…and believes that stocks could go to very high nominal levels, while the currency becomes worthless. I was just catching up on Rogers latest media appearances, and found this video on CNBC from a couple of weeks back. Jim’s still pounding the table that we’ve got a currency crisis […]
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