gold, page-103108

This strain B seemed to have confused the markets about inflationary pressures. The go to bonds, DXY and briefly gold play the role of safe haven. Friday night NY boys kicking it is back in the cycle. Does this feel like March 2020 all over again or just profits taking from the very bullish equity markets? I can't remember market reaction to Strain Delta but I'm sure in time people will analyse it for potential current outcome in the scheme of things.

I've never seen oil doing this until the pandemic. Based on the strain B reaction, most of the inflation levers and signals are vaporising fast. If indeed strain B is reigning global economic growth through ineffective current crop of vaccine, Powell's transitory inflation could be playing out. Money pump might continue without tapering talk if we go back to lock downs.

Next week might be rough or very rough.