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Gold helped by USD pullback and safe haven flows

Gold helped by USD pullback and safe haven flows

Video commentary for March 6th 2018

Eoin Treacy's view
A link to today's video commentary is posted in the Subscriber's Area.

Some of the topics covered include: gold prices continue to firm from the $1350 area while gold shares still look neglected, commonality in bond yields, TIPS and commodities, Wall Street steady, China bounces but governance is deteriorating, India weak, Eurozone barely steady but Italy bouncing,

Gold helped by USD pullback and safe haven flows
This report by Joni Teves for UBS may be of interest to subscribers. Here is a section - continues in the Subscriber's Area.

Eoin Treacy's view
A link to the full report is posted in the Subscriber's Area.

Gold has seen some of its thunder stolen by cryptocurrencies. Meanwhile, the negative real interest rates it hedges against have been slow to materialize, with the result that the price has been largely rangebound for five years.


Stock Bulls in Trump Country Are Freaking Out Their Brokers

This article by Michelle Davis for Bloomberg may be of interest to subscribers. Here is a section:

The glittering rise has been irresistible to Americans of all political stripes, of course. Consumers’ confidence in the stock market soared to a record high in January before fading in February after the market slumped 8.6 percent over a span of eight days. (And markets have begun gyrating again, triggered in part by Trump’s plan to impose steel and aluminum tariffs.)
Among Trump’s fans, though, trust in the firebrand politician as a stock-market bulwark easily endured the selloff, at least in San Angelo. During other routs, Edward Jones’s Freeman said, “I had people wanting to jump out of windows. Not this time.” This time, they kept buying. “I have to temper people,” he said, without much success.
Neff, for one, is unyielding. So strong is his faith, in fact, that he can even get odd looks in the heart of Trump country when he starts talking about how much money he’s investing in stocks -- including an additional $30,000 amid the February selloff.
“People look at me like a cow looking at a new gate.” But to Neff, it’s not complicated. “The economy’s doing too good, and all the companies are making money.

Eoin Treacy's view
One headline I saw this morning was something akin to the cry “Why do we need a Powell put when we have a Trump put?” That’s a simple emotive rallying cry for retail investors who have seen the stock market do nothing but go up since the Presidential election. Quite whether it will continue to work following the shock and awe of the early February meltdown is another question entirely. Continues in the Subscriber's Area.

Musings from the Oil Patch March 6th 2018
Thanks to a subscriber for this edition of Allen Brooks’ ever interesting report for PPHB. Here is a section natural gas - continues in the Subscriber's Area.

Eoin Treacy's view
A link to the full report is posted in the Subscriber's Area.

Unconventional oil and gas have been game changers for the US energy sector and with increasing export capacity that moniker will increasingly be true for the global market.
Together with the fact that US tight oil supply is also of the sweet light variety makes it an attractive option for refiners, particularly since a great deal of the additional supply coming from Saudi Arabia is of the heavier variety.

Eoin's personal portfolio update February 28th 2018

Eoin Treacy's view
One of the requests subscribers have asked for most over the last few years has been to have an easy way to find what positions I have open at any given time. Therefore, I repost this section on a daily basis and the title will always include the date of my most recent trade. 

Long-Term Themes Review February 9th 2018

Eoin Treacy's view
FullerTreacyMoney has a very varied group of people as subscribers. Some of you like to receive our views in written form, while others prefer the first-person experience of listening to the audio or watching daily videos.

The Big Picture Long-Term video, posted every Friday, is aimed squarely at anyone who does not have the time to read the daily commentary but wishes to gain some perspective on what we think the long-term outlook holds. However, I think it is also important to have a clear record for where we lie in terms of the long-term themes we have identified, particularly as short-term market machinations influence perceptions.

Here is a brief summary of my view at present.

2018, the 49th year of The Chart Seminar

Eoin Treacy's view
The first venue for The Chart Seminar in 2018 will be:

Melbourne on April 16th and 17th. We are currently in the process of confirming a venue. 

I will also hold an online seminar, probably in May over the course of three or four days.
There will be another Seminar in London in November and I am in initial discussions with a potential partner about organising a New York Seminar.
If you would like to attend or have a suggestion for another venue please feel to reach out to Sarah at [email protected] 

The full rate for The Chart Seminar is £1799 + VAT. (Please note US, Australian and Asian delegates, as non EU residents are not liable for VAT). Subscribers are offered a discounted rate of £850. Anyone booking more than one place can also avail of the £850 rate for the second and subsequent delegates.

Continues in the Subscriber's Area.

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