Andy Constan: Fiscal dominance debate draws in hard money advocates - Traders Union
Andy Constan: Fiscal dominance debate draws in hard money advocates - Traders Union
Source: Traders Union
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DW NOTE
The Fed hiked into a supply shock it cannot solve. Oil inventories are falling 3 million barrels per day with the Hormuz closure in week four, yet gold has dropped 21% from its January peak while the 10-year yield climbs to 5.26%. Markets are pricing monetary tightening as if it can substitute for the 85 ships per day that aren't moving through the Strait. It can't.