Article Category: Dow Theory

Ignore the 10’s Minus 2’s Yield Curve Nonsense

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The fickle and herd-like nature of the financial markets is on clear display right now, as conversations about the yield curve again take center stage. Last week, the 10-year note yield momentarily dipped below that of the 2-year yield (it did not close below that mark) and this has set off a frenzy of commentary that in my opinion, is completely misplaced.


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Posted in: China Commodities Dow Theory Gold Oil Yield Curve

Neutral Near-Term, Bearish Longer-Term

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We saw a strong rally in global equity markets yesterday, and much of that move was predicated on an improving Chinese landscape. On Sunday, the official Chinese Purchasing Managers’ Index came in at 50.5 (for March), signaling expansion for the first time in four months. The previous reading of 49.2 represented a three-year low.


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Posted in: Dow Theory Global Growth Inflation PMI Data Recessions Yield Curve

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