Gold Spikes Above $1200, Breaks Key Technical Resistance On Heavy ‘Safe-Haven’ Flows

Gold buying began at the European open and accelerated after the weaker than expected CPI print, snapping above $1200 and extending gains on notable volumes… Volume is well above average… Gold futures – after 5 days of testing and failing – have finally broken well…

“We Just Saw A Record Unwind Of Levered Hedge Fund Trades”

Yesterday, just before the selling accelerated in earnest, we warned that CTAs and other systematic, trend-following funds had finally joined the selling, as models that track equity trends flipped to a short signal. It wasn’t just the model-driven funds that were dumping however. According to…

BOJ Unexpectedly “Stealth Tapers”, Sparking Japanese Bond Selloff

The global bond rout accelerated overnight, when Japan surprised the market – which had been already on edge over the BOJ’s tightening intentions – with an announcement to further “stealth taper” its QE by trimming its buying of bonds due in more than 25 years…

Bitcoin Plunges For Second Time In One Day As Cryptocurrency Turmoil Deepens

The selloff across cryptocurrencies accelerated late on Wednesday, when bitcoin and other digital tokens dropped for the second time in less than 24, sinking to a nine-month low amid growing concern broader adoption of digital assets will take longer than some anticipated following an earlier…

Lira Plummets After Turkish Central Bank Deputy Governor Quits

It was already an ugly day for the Turkish Lira, which earlier in the day accelerated its drop for the 4th consecutive session, sending the USDTRY to the highest level since August 14 when the currency crashed over the weekend to the lowest level on…

Bitcoin Drops Ahead Of G-20 – Central Bankers Can No Longer Ignore Cryptos

Overnight weakness in cryptos started when Google ad-ban headlines hit overnight and accelerated as anxiety around next week’s G-20 (and its potential for more crackdowns) builds. As we detailed when it hit overnight, mimiccing its biggest rival for ad dollars – Facebook – Google will…

Millions Of Working-Age Men Will Never Return To The Labor Market, Fed Says

Given that the trend has only accelerated in recent years, we’ve report time and time again (and again) on the declining participation rate of healthy, working-aged men (typically defined as those aged 25 to 54). The labor force participation rate for prime-age men (age 25…