Show notes:
TMSpotlight:
09-16-2024 “Wooden Ships” Calm Seas, Prepare for Unexpected
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Wooden Ships above the oil, barely free. Easy, Bonds know the way it’s supposed to be.
Gold rose sharply above 2600, an all-time high, in fear of a broader war. The US and NATO signaled they will arm Ukraine with long-range missiles. Putin said such action means the US and NATO would be directly at war with Russia. The Biden/Harris administration tossed a word salad to walk it back.
Despite wild Gold trading, Oil, US Bucks, and Bonds moved calmly. But heed Gold’s warning, expect the unexpected through the end of the year with frequent daily mortgage rate moves of over 20 bps.
BRICS are leaving. BUCKS don’t meet their needs.
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Song: Wooden Ships (1969) Crosby, Stills, Nash, and Young