A quick overview of the markets overnight.
Stock market sell-off globally.
Gold drops substantially.
Canadian dollar plunges 2 1/2 cents in 12 hours (US dollar rises).
Oil craters.
US Bond yields drop.
As we have long argued on this blog. We are staring into a deflationary abyss, not an inflationary one as others believe. The safest asset class in this environment is precious metals (Yes, I know gold just dropped, but it is the ultimate extinguisher of debt so we must be patient).
Good luck to all.
Stock market sell-off globally.
| CAC 40 INDEX | 2,781.53 | -154.29 | -5.26% |
Gold drops substantially.
| GOLD 100 OZ FUTR (USD/t oz.) | 1,738.300 | -69.800 | -3.86% |
Canadian dollar plunges 2 1/2 cents in 12 hours (US dollar rises).
| USD-CAD | 1.0306 | 0.0225 | 2.2315% |
Oil craters.
| BRENT CRUDE FUTR (USD/bbl.) | 105.800 | -4.560 | -4.13% |
US Bond yields drop.
| 10-Year | 2.125 | 08/15/2021 | 103-06 / 1.77 | 0-24+ / -0.085 |
As we have long argued on this blog. We are staring into a deflationary abyss, not an inflationary one as others believe. The safest asset class in this environment is precious metals (Yes, I know gold just dropped, but it is the ultimate extinguisher of debt so we must be patient).
Good luck to all.
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