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Bonds, Again

Daily Rap 06-06-2022

The bulls tried to get a party started as they had the Nasdaq almost 2% higher and the S&P up 1% shortly after the open, but the undertow in the bond market essentially erased the rally by midday, with the indices just barely hanging on in positive territory. In the afternoon, the market traded sideways to higher, finishing with the small gains that you see in the box scores.

Away from stocks, as noted, fixed income was heavy, with rates probing the recent highs. Green paper was helped at the margin by that while the metals were not. Silver was over 2% higher at one point last night before giving most of that up to close 0.75% higher. Meanwhile, gold turned a 0.5% gain into a 0.5% decline. The miners were extra weak given the size of the move in the metals,...more

Last year's posts for Ask Fleck

Q: Guess what sector had the most insider buying in the last 3 months, Gold! Out of the 3,649 buys, 257 were in the gold and silver stocks. Next best was producer manufacturing with 158 buyers.

Fleck: Wow, nice catch, I missed that.
(posted: 6/3/2022)

Q: As former Prime Minister Benjamin Disraeli once said: “There are three kinds of lies: lies, damned lies, and statistics.”

Something you do not see every day. Mexico at 7.5% has a lower inflation rate than the U.S. at 8.5% As do many of the other countries around the world. I guess that is what $5 trillion in COVID spending will get you.

Inflation Rate - By Country

Fleck: Pretty stunning.
(posted: 6/3/2022)

Q: Evil genius, just evil, a do-gooder willing to use human beings as guinea pigs to demonstrate the fact that the road to hell is paved with good intentions, or just your typical imperious megalomaniac?

Vaccinate the world in six months

Fleck: I have no real idea what his motivation is.
(posted: 6/3/2022)

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