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.


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.


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.


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


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


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


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.


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


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).