wanting to see a demonstration of how a “bond-bullion barbell”
portfolio moves on a day when nearly everything seems to be going down need look no
further than a few representative indexes and ETFs as shown below, in which
Treasuries and gold bullion are the only green in a sea of red.
that gold stocks are clearly siding with broad equity markets at the moment
and, as is usually the case at a time like this, silver traders have parted
company with those in the gold pits, the dearth of buyers sending the silver
price sharply lower. By the way, don’t ask me to explain how PHYS moves
– it seems to march to a completely different drummer.
Iacono is the founder of Iacono Research which provides market commentary and
investment advisory services specializing in macroeconomic analysis and
commodity based investing. He also writes the popular blog The Mess
That Greenspan Made.