To that end we expect there will be changes based on feedback. Gold is the jumping off point for analysis
GoldFix Daily Brief
Good Morning. The DX is unchanged. Bonds are slightly softer. Gold is up $3.50 and Silver is up 19 cents. Copper is down small. Oil is down 1% and Nat Gas is up 1.4% Grains are slightly bid and crypto is broadly if only slightly lower
What's it Mean:
Global Bonds firmer with stocks stable in the current context implies markets are just fine. If stocks sell off, think stagflation. If stocks and bonds sell off together; think end of stimulus, failed infrastructure bill, or something endemic.
The S&P 500 set a closing record high yesterday, and, with the help of a more constructive tone from Beijing, all the major markets, but Tokyo, traded higher today. Any move in gold under $5 should be viewed as noise.
The US 10-year yield is hovering around 1.18% in Europe, while the JGB benchmark yield is below zero for the first time this year. Greek and Australia's 10-year bond yields are at new six-month lows.