Hedgeye CEO Keith McCullough flagged a growing divide between the U.S. dollar and the S&P 500, gold, and more in this important clip from Thursday’s edition of The Macro Show.
With Hedgeye forecasts calling for a renewed rise in inflation starting in March, McCullough reminds investors to keep a close eye on how the dollar behaves in relation to markets and other assets.
“If you thought we had inflation accelerating before with a strong dollar, wait until you see what happens when the dollar breaks down and continues to break down,” McCullough says. “It shouldn’t be unnoticed or unsaid that my signal got me out of the U.S. dollar weeks ago and got me into the [Japanese] Yen.”
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