Bracing The Bond Bubble

Our last article covering 10-year U.S. Treasuries discussed an investment idea that was motivated by lower yield expectations. The assessment proved correct as the 10-year bond gained more than 10% since February. This write-up shows that an outlook for long-dated bonds became tricky from here on. Therefore, we cashed in our positions that were motivated …

A Lonely Gold Bear

Gold reached exactly into our 1,500-1570 target, which we discussed here during the past months. We are turning bearish on gold as technical and behavioral evidence signals headwind. The precious metal is likely to correct during the next few months. Gold traded into our target. That’s it with the good news, which allowed us to catch …

S&P 500 – A Bull Trap

The past few weeks recorded an extension of the US equity rally. The S&P 500 index hit the 3,000 figure for the first time since its inception this week. Many market participants turned bullish recently. They expect the longest bull market in history to extend even further. We have a contrarian view instead to that. …