Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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#Quad3 Economic Stagflation is awesome for my diversified macro portfolio. It’s terrible for no-to-low-income people who are going to have to pay for eating it (Corn and Wheat prices are inflating as much as SPY this AM btw, +1.3-1.8%, respectively). Will the #Quad3 Tech Ramp surpass the all-time bubble highs of AUG 2020? A) I don’t know … but What the pace of this morning’s US Dollar Devaluation is telling you is that Bullish @Hedgeye TREND Commodities like Silver (+3%) and Bitcoin can go all Buzz Lightyear on the bears. Their US Dollar inverse correlations (Gold and Commodities too) are real! What else will I be paying particular attention to probability-weight where markets go next? A: Volatility’s Surface. |
