Loading ...We were getting hit pretty good a couple of hours ago, but the dollar and rates have turned south. Bitcoin is up 1/2%, oil is down 1/2%. The SM is breathing fire and ripping higher.
It appears that rumors of a melt-up might end up being true now that the first of what should be many cuts are behind us. I guess it’s good to see rates actually responding to the Fed this time around. When the Fed cut 1 pt. last year, rates went nowhere.
ZH posted an article yesterday that gold demand in Asia was beginning to show some weakness because of higher prices. I wonder if Asia is all there is to that story.
Anyhoo, I continue to be surprised by the strength. Unless the scum comes in and whacks us today, it seems like Fed meetings and jobs reports have become much less of a threat lately.