Oil Shock Drives Bond Yields
In light of the continued rise in bond yields, I have decided to take some defensive action in the portfolios and reduce exposure to property.
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Supply Shock Drives Commodities
Commodities are not the greatest long-term investment. Since 1970, a diversified commodity basket in cumulative terms has done less
UK Pays 8x More for Natural Gas than the USA
The North Sea Gas price has doubled this year. With gas and electricity at three-year highs, who knows when this will peak?
On Holiday Next Week
I am away on holiday next week, and Kit will oversee things if anything needs to be published.
Has Gold Become the Risk-Free Rate?
Post-2020 inflation vs forecasts don't add up. Gold is likely telling the story that TIPS won’t.
Barrels and Bullion
The gold price rallied last week and is now 10% off its low. It’s a welcome recovery that reassures me the worst is behind us.