Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Greetings from rainy North Carolina. I’ll probably only say it a few hundred more times but expect much less Tim than you are accustomed to having until Monday morning. I’m exceptionally occupied, but I’ll try my best to do a post or three each day here on good old Slope.
Pre-market, the equity futures are all green (of course) but only by modest amounts. The /YM, shown here, has just been ambling along listlessly, digesting the eye-watering valuations the market has attained.
In my post on 23rd April on my The Bigger Picture substack I was looking at why in my view the Iran War was, and is, largely irrelevant in the context of the economic shock being created by the closure of the Strait of Hormuz. The Strait has now been closed for almost ten weeks and seems very likely to be closed for at least another three weeks. I’ll be writing a follow up post tomorrow about oil, and the oil shock that I’m expecting to become very important when the oil and equity markets come out of their current wishful thinking daze in one to three weeks. If you’d like to see that, it will be published on my The Bigger Picture substack and at Slope of Hope.
(more…)From a post on the precious metals and the “new macro” in January:
The 3 Snowmen and the Precious Metals
I think the US will come back from this, both to its senses and to a sounder financial system. Gold will be at the center of this. The stock market will not. It was the beneficiary of the old macro. Unfortunately, a vast majority is operating as if we are still in Kansas (AKA the old macro). We’re not there anymore.
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And we all awaken to a new day, and the /ES is as clear and well-defined and a pot of overnight oatmeal that we left out yesterday evening. What an inscrutable mess.
