The Macro Charts You Must Know #6
If the frame above isn’t loading, you can read Week In Charts over here.
The week in a nutshell:
- US yields rallied strongly this week, keeping the US yield curve on its summer steepening rally
- But commodity prices show that inflation is very much market based, not broad based
- Residual effects from last year’s COVID restrictions, + newly imposed Delta variant restrictions are severely disrupting supply chains… again
- Gold takes a dump at the start of the week, and regains its losses to finish the week strong
- Flash crash could be a one off forced liquidation that may not signal systemic over-leverage, but it could also indicate a system running short on collateral
- Liquidations don’t happen in a vacuum; important to not just dismiss the move as a flash crash
Who dumps #gold on a Sunday?! Someone desperate – that’s who.— The Pensive Nugget (@pensivenugget) August 9, 2021
If you had a bad weekend, that person☝️ had a worse one.
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