Monday, March 9, 2015
Your Monday morning news
As noted previously, gold did not get hammered ex-US, only in US dollars. So let's see how it does today - so far overnight it looks like China is done hammering and is back to quietly buying.
Though of course the gold market will remain disconnected from fundamentals and at the whim of Wall Street Whitey at least til Indian buying season this summer. So it's not going to be a slam-dunk place to invest for a while.
Anyway, here's the news:
New Deal Demoncrat - weekly indicators: negativity spreads to short leading. Problem is, the negative readings can all be explained by other things (Gallup? weather; rails? port strike and weather) while the big money indicators (jobs, tax withholding) are all still positive. But maybe there are enough honky crackers out there paying incomplete attention that we can get a correction: in any case, the market should react negatively to the March Fed statement (meeting is March 18-19, minutes are 3 weeks later) and crappy Q1 GDP (advance estimate April 29). We'll see.
Calculated Risk - yeah, the prime working-age population is still growing. It would be nice if the young fuckers would agitate for better wages instead of being pussies, but at least the US economy still has demographics working in its favour.
Bloomberg - Greek tensions revive as blah blah blah. Oh good, this again.