If you haven’t yet listened to our recent Forward Guidance episode, I think it is worth the time because it really drives home the importance of the shift in markets we saw this week. At one point after we were talking about the intervention and fiat debasement for ~30 minutes, I think I said something to the tune of “even though we’ve been nonstop on this topic, I still don’t think we’re doing it justice as to the magnitude of the event”. I still believe that to be the case and an extremely important factor in markets for months and years to come.
Additionally, I want to say thank you to all of our new subscribers who joined the community this week - we appreciate your support. Our latest thought piece was seemingly well received and saw strong traction. It will be interesting to see what that means for the trade over the coming weeks and months.
Lastly, as many of you know our weekly Scouting the Tape report is typically published later in the week or over the weekend. It’s our goal to write 40+ of them over the course of a year (in addition to our thought pieces and other deliverables), allowing for a few weeks off given sometimes there just is less to say and I want this to be a quality over quantity publication. This past weekend was supposed to be one of those but given everything going on, I felt compelled to write. Given the usual late summer slow-down, I’m not yet sure what my writing schedule will look like but I will be back in the usual cadence in after Labor Day and continue to post relevant updates in the chat as appropriate. I hope everyone is able to get some time away from the screens over these coming two weeks before what is sure to be an eventful autumn season.
This week’s issue covers:
Increasing Treasury intervention.
The week that guaranteed the next bout of inflation.
Outlook for the bond market.
Don’t lose sight of the big picture in equities.
Oil update.
Metals update.
Asset allocation thoughts.
