Fed Crushes Put Call Ratio, Gold Mirrors Real 10-Y T-Yield

One of the more interesting ratios in the market is CBOE’s US Equity Put Call Ratio. The ratio hit a local high in March due to the Covid-19 virus. And subsequent state and local economic shutdowns. The Federal Reserve responded like the US Cavalry by cutting the Fed Funds Target rate and ballooning The Fed’s balance sheet. The Fed also helped to crush the Put Call ratio.

Meanwhile, gold keeps pace with the 10Y REAL Treasury yield.

The Fed to the rescue!

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