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The Call @ Hedgeye | March 28, 2024

Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more about the Early Look.  

With the US Dollar NOT DOWN + Global Bond Yields falling, Global Equity markets (particularly those with 80-90% TRENDING inverse correlations to USD) have not enjoyed the last month – neither has Gold. In the last month alone, here’s the score on that front: 

A) US Dollar Index up +1.2%
B) Gold down -3.1% 

That’s not exactly your world-wide “breakout in inflation” signal, fyi. 

CHART OF THE DAY: Big Hit to the Biggest Consensus Narrative - 03.19.18 EL Chart