Gold: Waiting for the Next Bull Market

Gold: Waiting for the Next Bull Market 11 Sep 2018 By Erik Norland Topics: Metals After gold’s spectacular rally from $280 per ounce in 2002 to $1,900 in 2011, the past seven years have been a lackluster period for its investors.  Gold’s nine-year rally closely tracked the 2002-2011 bear market in the U.S. dollar (USD).  Moreover, … Read More

Three Critical Recession Warning Signs to Watch

Three Critical Recession Warning Signs to Watch 10 Sep 2018 By Bluford Putnam and Erik Norland Topics: Economic Events The next recession: What are the warning signs?  What might it look like?  How will markets react? The nearly decade-long U.S. economic expansion may look a little long in the tooth, but it is not about to … Read More

Aluminum: Supply and Demand Dynamics

Aluminum: Supply and Demand Dynamics 6 Sep 2018 By Erik Norland Topics: Metals U.S. aluminum prices soared between January and April in anticipation of the Administration’s 10% import tariff.  Prior to the tariffs, U.S. prices were about 10% higher than the global average.  Now, they are almost 20% higher.  Since the tariff went into effect on … Read More

Fed’s Fork in the Road: Even Higher Rates or Pause

Fed’s Fork in the Road: Even Higher Rates or Pause 23 Aug 2018 By Bluford Putnam and Erik Norland Topics: Economic Events As has been the case several times in the current tightening cycle, there is a large gap between what the Federal Reserve (Fed) suggests it is likely to do and what the market believes … Read More

HEDGING U.S. EQUITIES WITH TREASURY OPTIONS

Hedging U.S. Equities with Treasury Options 20 Aug 2018 By Erik Norland Topics: Economic Events U.S. equities may be in the late stages of a bull market. In their early stages (1991-1996, 2003-2005 and 2009-2014), earnings and equity prices rise in tandem.  In the late stages (1997-2000, 2006-2007 and 2015-), earnings stagnate or decline while prices … Read More