CHART OF THE DAY: Dollar Down, Again!

09/02/21 08:14AM EDT

Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. 

Back to the point (I.e. the one that Rickards called out) that ties what happened in Afghanistan to the US Dollar and the commensurate Correlation Risk (that was already being priced into the market pre-Afghanistan):

A) USD inverse correlation to SPY is currently -0.82 on my immediate-term TRADE duration
B) USD Inverse correlation to Oil is currently -0.90 on my immediate-term TRADE duration

*Power-User (of the process) Note: those are extremely high Correlation Risks (to the upside for inflation)

And, to be crystal clear on this, Jim could have told me anything (he’s got great contrarian lines of thinking) and I’d be willing to believe that THE MARKET and THE MACHINE could believe in US Dollar Risks to the downside.

CHART OF THE DAY: Dollar Down, Again! - 9 2 2021 7 43 08 AM

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