* US market closed lower after Labour Day hol, Dow -195pts, S&P500 -0.42% to 4496, Nasdaq -0.42%
* US yields pumped higher, US 2 yr and 10yr yields were +1.88% and +2.22% higher to 4.96pc and 4.27pc respectively
* DXY hit new recent high of 104.91 before closing at 104.78, Aussie down to 63.8c
* Gold fell $12 to $1926, GDX and GDXJ down -2.06% and -3.04% respectively
* WTI Crude now at YTD high of $86.24 reminds us that inflation could easily return, this is why it is difficult for central bankers using monetary policy because a soft landing narrative would just push oil higher which in turn means rates would have to go or stay higher to beat inflation. It would require a recession before the Fed pivots and that could arrive as early as Q1 2024; XLE +0.53%
* Lithium stocks higher, LIT +0.79%, ALB +0.27%, SQM -0.09%, LAC +1.83%
