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Tag Archives: Commodities
Nonlinear thinking: Going Gaga Over Transformative Tech
One of the great problems of asset bubbles is not only the creation of too much capacity, but the misallocation of resources. Our good friend and market guru extraordinaire, Barry Ritholtz, wrote of one such case back in 2005, during … Continue reading
Posted in Apple, Black Swan Watch, Demographics, Employment, Equities, Technology, Video
Tagged CES, Commodities, Lady Gagam, Transformative Technology
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Rare Earth Day 2.0
Take a look at Rare Earth (not the band) today. Lots of market buzz as Molycorp (MCP) up over 10 percent and Rare Earth Elements (REE) up over 22 percent. Recall our take on the Rare Earth trade as “gold … Continue reading
Posted in Commodities, Geopolitical, Gold, Politics, Rare Earth Elements, Sovereign Risk
Tagged China, Commodities, Japan, Rare Earth, Strategic Minerals
2 Comments
Krugman’s Dangerous Misreading of the Bond Market
During his Sunday appearance (click for interview) on This Week With Christiane Amanpour, Paul Krugman spoke the words that make us very uncomfortable. Responding to French finance minister Christine Lagarde’s fiscal austerity and Alan Greenspan’s caution about further stimulus, Krugman … Continue reading
Posted in Bonds, Commodities, Credit, Currency, Equities, Gold, Policy, Politics, Sovereign Risk
Tagged Commodities, Deficits, Gold, Krugman
2 Comments
Rising Tide (of liquidity) Lifts All Boats
Great chart from Active Trader of the S&P5oo correlation with other markets. Have you noticed recently that all markets are moving together? U.S. Treasuries, domestic and foreign stocks, Greek Bonds, EM Debt, commodities, and foreign currencies all in lockstep? This … Continue reading
Posted in Bonds, BRICs, Commodities, Credit, Currency, Equities, Gold, Monetary Policy, News, Policy, Sovereign Risk
Tagged bonds, Commodities, Correlation, Equities, Monetary Policy
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The Store of Value Trade
Commodity prices closed at two year highs. Bloomberg writes, The Reuters/Jefferies CRB Index of 19 raw materials jumped as much as 2.7 percent to 295.17, the highest level since Oct. 15, 2008. Every price advanced. Wheat, soybeans and corn led … Continue reading
Posted in Bonds, Commodities, Credit, Currency, Monetary Policy, News, Policy, Politics
Tagged Commodities, CRB, Inflation, Monetary Policy
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The Three Legs of the Q4 Melt-up
1) Under allocated investors… 2) Expectation of a Republican victory in the November election… 3) The Flood of Liquidity unleashed by ultra-loose global monetary policy… “The Bank of Japan will encourage the uncollateralized overnight call rate to remain at around … Continue reading
Posted in Commodities, Credit, Currency, Equities
Tagged Bank of Japan, Commodities, Equites, Fed, Gold, Melt-up, Monetary Policy
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Central Banks Gone Wild: Paulson Says Gold Price to $4,000
The Gold fear trade is back on. That is, traders and investors fear they are not long enough. The Bank of Japan really got the party started as Bloomberg reports, “The unexpected decision by the Japanese central bank yesterday to … Continue reading
Posted in BRICs, Commodities, Credit, Currency, Gold, Monetary Policy
Tagged Bank of Japan, Commodities, Gold, Monetary Policy
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The “Catch-Up”Trade
Interesting chart of today’s activity. They sold the grains and bought crude, which has been a laggard. The “catch-up” trade, where laggards outperform, may be the theme of the markets for the next few weeks.
Posted in Bonds, BRICs, Commodities, Credit, Currency, Equities, Gold
Tagged bonds, Commodities, Equities, Futures, Gold
3 Comments
Rare Earth Day
Rare Earth Elements (REE) have shown up on our radar as shares of Molycorp (MCP), one of the largest and only producers outside China, has doubled in the past month. REEs have no substitutes and are critical material inputs for … Continue reading
Posted in Black Swan Watch, China, Commodities, Equities, Geopolitical, Rare Earth Elements
Tagged China, Commodities, Equities, Geopolitical
2 Comments
What is the “correct” price for gold?
Because the equilibrium price of gold is an unknown, the yellow metal keeps running. There is no real metric to determine its fundamental value — a real rate of interest and price-earnings or price to book ratio, for example. … Continue reading
Global Macro Monitor 