*Panic Begins: Gold Makes New ATH, Slammed as Stocks Plummet
Audio: explains in context what is happening right now.
AUDIO CORRECTION: I described stocks as being down 3 1/2% today. That is incorrect. I was thinking about the last two days behavior of stocks. Today they’re down 2.3% so far.
The following just came out from CITI as a reaction to the events described:
(Three weeks days ago CITI Dropped a rate cut bomb, calling for 7 cuts over the next 12 months. They are ahead of others on this it seems)
CITI: Fed to start with 50bp cuts
For some time we have highlighted risks that a gradual weakening in the labor market would at some point turn more…
The skinny
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