All of the outright lies and propaganda aside, consumer just collapsed to an all-time low.
April 10 (King World News) – The Kobeissi Letter: BREAKING: The UMich Consumer Sentiment index officials falls to a record low of 47.6 for the month of April amid the Iran War.
Not even March 2020 or 2008 saw consumer sentiment levels remotely near as low as they are right now.
KING WORLD NEWS NOTE: Consumer Confidence Just Collapsed To An All-Time Low
A Key To Understanding The Precious Metals Complex
Jesse Colombo: Watching the U.S. Dollar Index is key to understanding the precious metals complex, particularly during this war, as I explained in a recent report. As I suspected, the index has once again failed to break above the key 100 resistance level, which is a sign of weakness and is bullish for precious metals, which trade inversely with the dollar.
The pullback in the dollar this week, and the corresponding rise in precious metals, is tied to the announcement of a two-week ceasefire in the Iran war. The agreement has eased immediate fears, with some analysts viewing it as a potential off-ramp that could lead to a broader resolution of the conflict, which had driven energy prices higher and pressured financial markets.
Jim Grant’s Weighs In On What Is Happening
Fred Hickey: Lead comment in Philip Grant’s Trading Recap section from tonight’s Almost Daily Grant’s:
“Stocks swiftly erased early losses to build on yesterday’s potent rally, with the S&P 500’s 0.6% gain drawing the blue-chip gauge back to the cusp of unchanged on the year.”
The S&P 500 index is down all of 0.3% YTD, while the Dow Industrial Average is up 0.25%. Really? With everything that’s gone on this year! A war with a very uncertain outcome. Closed Strait of Hormuz. Soaring energy prices, Rising inflation (even before the war). Developing shortages (fertilizer, tungsten, jet fuel, helium, semiconductor memories etc.). A potential “run” on private credit lenders. A major bubble in hyperscaler stocks that looks to be leaking air (finally).
The “buy-the-dip” mentality ingrained in investors’ psyche is eventually going to trap the very complacent dip buyers in a bad spot. Saw similar complacency before in 2000 prior to the tech bubble’s collapse and again in 2007 before the Global Financial Crisis (when subprime was supposedly “contained”).
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Despite 2-Week Ceasefire, Europe Faces Long-Term Energy Crisis CLICK HERE.
Iran War And The Big Threat To The US Dollar CLICK HERE.
Underpinning The US Dollar, Plus Almost No Reaction In The US Oil Patch To The Jump In Prices CLICK HERE.
WTI Explodes Higher As Energy Crisis Goes Global, Plus Uranium Coiled To Skyrocket CLICK HERE.
Greyerz – This Is All Playing Out The Way I Predicted It Would For The Past 25 Years CLICK HERE.
Major Financial Storms Are Ahead CLICK HERE.
Colombo Says Past Oil Bull Markets Bullish For Gold & Silver CLICK HERE.
Public Poured A Billion Dollars Into An UltraShort Oil Fund Ahead Of Today’s Rally! CLICK HERE.
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