Editor's Note: The chart and brief excerpt below are from today's Morning Newsletter written by Hedgeye CEO Keith McCullough. Click here for information on how you can subscribe.
"...On the heels of an ugly Retail Sales slow-down to 0.9% year-over-year growth (and the worst US Consumer Confidence report of the year via the University of Michigan), this is what the big macro stuff did last week ... US Dollar Index -1.8% on the week (and now -5.3% in the last month) ... Gold +3.1% on the week to $1225
That last one (Gold) was the best performing of the Dollar Down inverse-correlation-love lot … primarily because there was this extra-cherry on top that Gold loves more than anything else. It’s called Down Rates..."
