Commodities

Monthly Macro Monitor – January 2019

By |2019-01-24T17:30:37-04:00January 24th, 2019|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Monthly Macro Monitor, Politics|

A Return To Normalcy In the first two years after a newly elected President takes office he enacts a major tax cut that primarily benefits the wealthy and significantly raises tariffs on imports. His foreign policy is erratic but generally pulls the country back from foreign commitments. He also works to reduce immigration and roll [...]

Living In The Present

By |2019-01-10T17:15:44-04:00January 5th, 2019|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Investing, Markets, Politics, Real Estate, Stocks, Taxes/Fiscal Policy|

The secret of health for both mind and body is not to mourn for the past, nor to worry about the future, but to live in the present moment wisely and earnestly. Buddha Review It's that time of year again, time to cast the runes, consult the iChing, shake the Magic Eight Ball and read [...]

Monthly Macro Monitor – November 2018

By |2018-11-29T21:46:14-04:00November 29th, 2018|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Monthly Macro Monitor, Stocks|

Is the Fed's monetary tightening about over? Maybe, maybe not but there does seem to be some disagreement between Jerome Powell and his Vice Chair, Richard Clarida. Powell said just a little over a month ago that the Fed Funds rate was still "a long way from neutral" and that the Fed may ultimately need [...]

Approaching the Point of No Return? UPDATED

By |2018-11-13T15:18:52-04:00November 13th, 2018|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

At the end of June, the crude curve really got out of hand. WTI futures had returned to backwardation many months before, and then the eurodollar/collateral explosion May 29 sapped some crude strength. Over the following month, curve backwardation would become extreme as the benchmark price seemed ready to skyrocket. After getting up near $80 [...]

The Long Shadows

By |2018-11-12T16:08:24-04:00November 12th, 2018|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

The news was one of those instances when you could see they were trying a little too hard. It didn’t make any sense, not anyway in the context to which it was delivered. On September 21, unnamed German officials were supposedly championing a megamerger in the banking sector. The country’s two largest financial institutions might [...]

Three Stages of Gold

By |2018-10-23T16:53:25-04:00October 23rd, 2018|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

For days after China shocked the world in August 2015, “devaluing” its currency seemingly out of nowhere, there was only confusion as to what had just happened. Going by nothing more than the mainstream media and economic narrative fed to it by central bankers and Economists (redundant), you wouldn’t have known anything was wrong at [...]