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Below is a brief excerpt transcribed from Monday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough. |
The #FullCycleInvesting returns in Gold have been nothing shy of phenomenal. That's right. We have a new cycle high in Gold.
Just take a look at these four landing strips in this chart. One, two, three, four steps up.
But look deeper. Gold and bond yields are telling you that real economic growth is slowing. Bond yields on a real basis are lower again this morning. The 10-year yield was obviously down 2 basis points last week so Treasury Bond bulls got paid.
These are the things that make #FullCycleInvestors happy: Long Treasuries (TLT), Gold (GLD), and Tech (XLK).
Don’t forget the other side of those #FullCycleInvesting trades are short the Financials (XLF) and the Industrials (XLI).
This is your reminder. There are plenty of things to be long and short ahead of ahead of earning season.