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Chinese Stimulus Update
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Monthly Depth Report – March 2024 – The “Store of Value” Debate
With inflation continuing to erode the purchasing power of the dollar and both gold and Bitcoin hitting all-time highs this month, there’s been increasing interest in the concept of what constitutes a store of value. Michael Gayed has asserted that a store of value can’t have tail risk. That means if an asset can have … Read more
Weekly Points – March 8th, 2024 – 5 Things to Know in Investing This Week – The Powell Just Hit the Panic Button Issue
This week, Jerome Powell spoke to Congress and was more dovish than he’s been in years. He’s gone from channeling former Fed Chairman, Volker, who crushed inflation with interest rates approaching 20% to sounding like Volker’s predecessor, Arthur Burns, who reduced interest rates before getting inflation under control. We saw weaker than expected job reports, … Read more
Webinar on Energy with Tracy Shuchart of Hilltower – New Time
Tuesday’s webinar on energy with Tracy Shuchart has been moved to 11am Eastern Time. All are welcome. Login details here: Gary Brode is inviting you to a scheduled Zoom meeting. Join Zoom Meeting https://us06web.zoom.us/j/89536650169 Meeting ID: 895 3665 0169 — One tap mobile +19292056099,,89536650169# US (New York) +16469313860,,89536650169# US — … Read more
Details for February Webinar on Energy with Tracy Shuchart
February’s webinar will focus on energy including oil, gas, nuclear/uranium, and related geopolitical events that affect this sector of the market. We’ll be hosting energy expert, Tracy Shuchart, CEO and Founder of Hilltower Resource Advisors on Tuesday, February 13th at 12pm Eastern Time. She started her career in 2005, in finance, at the Chicago Board … Read more
Weekly Points – February 2nd, 2024 – 5 Things to Know in Investing This Week – The Surprise Higher for Longer Issue
The Federal Reserve surprised the market by leaving the fed funds rate unchanged and indicating its not inclined to lower at the next meeting in March. The market was disappointed, but a better-than-expected manufacturing index with higher-than-expected pricing plus a seemingly hot labor market support the Fed’s decision. There was huge growth in jobs, but … Read more
Clarification on Oil Prices
This piece was originally published on October 13th, 2023. I got a great question today from DKI reader, Eric, who correctly pointed out that it appeared I was claiming that Russian refining difficulties could lead to lower crude prices. The relevant paragraph is from the Energy section of today’s CPI post. I’ve re-read it, and … Read more
The Sell-Side is Typically Late on Energy Again
This piece was originally published on September 21th, 2023. After oil prices rose to their highest level this year, the sell-side decided to raise price targets. Bank of America thinks crude prices could go above $100 this year. Brent crude is already up from the low $70s to almost $94 today. JP Morgan is “predicting” … Read more
Portfolio Update – It’s Not Disinflation
Normally, I don’t provide updates on daily market action, but there’s something important happening today. Saudi Arabia and Russia have extended production cuts for several additional months. The US has tried to buy a tiny amount of oil to begin to replenish the strategic petroleum reserve (SPR), but that keeps pushing oil prices higher. Oil … Read more
