Gold Short Positions Decline As Gold Prices Rise And 10-Year Treasury Yields Head South Of The 3% Border

10-year Treasury yields are heading south of the 3% border.

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And non commercial gold short positions are declining as gold prices rise and the 10-year Treasury yields head down Mexico way (that is, head south of the 3% border).

Here is a picture of Fed Chair Jerome Powell and former Fed Chair Janet Yellen dicussing interest rates.

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Crude Crumble! US Crude Oil Plunges 34% Since October 3rd, Phillips 66 Plunges 25% (Venezuela’s Crude Basket Down 23%)

US Crude Oil (West Texas Intermediate Cushing  OK) spot price has fallen 34% just since October 3, 2018. And using US oil company Phillips 66 out of Bartlesville Oklahoma as an example, Phillips 66 plunged 25% since October 3rd as well.

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At the south side of El Caribe, Venezuela has seen a plunge in their crude oil basket of 23% since early October.

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Venezuela’s El Presidente is not thrilled about the global decline in crude oil prices.

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But Mad-man Maduro may be thrilled at his country’s annual 46K% inflation rate!

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Goin’ Down! CMBX BBB- Going Down Along With Smart Money Flow Index And SPX and NASDAQ Composite Indices

As Bruce Springsteen once mumbled, financial markets are goin’ down.

Equity market indices like the S&P 500 and the Dow Jones Industrial Average have been pummelled over recent months along with the NASDAQ Composite Index and the SMART Money Flow Index.

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And we know that housing in the form of existing home sales have declining YoY for the last 8 months.

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But also goin’ down is Markit’s CMBX BBB- index. Note that the CMBX BBB- index started declining back in July. CMBX is a series of indices, designed to reflect the creditworthiness of commercial mortgage-backed securities (CMBS).

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