Slope of Hope Blog Posts

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.

The Yield Curve Flattener

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As the Yield Curve flattens, this inflation is different from the 2020 inflation

In 2020 an inflationary yield curve steepener was in the bag as the Fed dropped and pinned the Funds Rate and sucked up every bond it could get its hands on (in order to monetize/print). The bond market made the logical signals about the resulting inflation as the short end was pinned by a combination of Fed policy and the frightened, risk ‘off’ herds clustered in T-Bills and short-term Treasuries, relative to the long end.

Gold and then stocks picked up on it first, followed by commodities, which were tardy but are now the star performer late in the inflation cycle. Hmm…

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Gold Next Bull Leg in Progress

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“2022: The Golden Year” activates…

…as gold and the miners hit our short-term upside targets this week.

In August of 2020 we noted the danger signals for gold based on sentiment excess coming out of the acute pandemic fear phase. We also noted the need for a multi-year bullish Cup to build a proper handle after that excess. A Cup’s handle is actually a downward trending bull flag.

In December of 2021we noted that 2022 would be the “Golden Year”.

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