This chart from today's Early Look by Keith McCullough shows a -1.7% drop last week in Oil (WTI), putting the commodity down -11.2% in the past month alone. 

In contrast, Gold loved the Real Rates Down move, gaining +2.2% on the week.

CHART OF THE DAY: Rates Aren't the Only Thing That Go Down in a Recession - z chart 11 20 2023 8 08 50 AM

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CHART OF THE DAY: Rates Aren't the Only Thing That Go Down in a Recession - BlackFri Banner  1