Financial News vs. Noise
We are ringing the closing bell on the CBOE on 5/23 for the Brendan Wood Top Gun ETF (BWTG) in Chicago. Cocktail reception to follow. If you are going to be in Chicago and would like to come let me know.
Matthew Tuttle, CEO of Tuttle Capital Management who partnered with fund manager Rex Shares on the T-REX single-stock funds, says he has been pleasantly surprised by the growth this year.
“I think this is going to become its own little ecosystem,” Tuttle said. “I know there’s a lot of criticism of it. To me, it’s a tool.”
Nothing going on yesterday and so far today starting out kind of boring. Heard that yesterday was lowest volume day in a month, pretty much felt like it.
With the S&P 500 above it’s 50 day and no catalysts, the path of least resistance is up. Rates did tick up yesterday to test 4.5%, and look higher this morning.
Keep an eye on what’s going on with central banks and specifically the Yen. BOJ’s Policy Board Becoming More Concerned About Effects of Weaker Yen-WSJ
“While the yen’s depreciation is likely to push down the economy in the short run through price rises driven by cost-push factors, it could push up underlying inflation in the medium to long run” through increases in inbound spending and domestic production, one of the BOJ’s nine policy board members said at the meeting held on April 25 and 26.
Japan Is Now Caught In A Doom Loop-ZeroHedge
The Japanese may well be caught in a doom loop, where they need to sell more foreign reserves to prop up the currency, which cause US yields to rise, which causes the Yen to weaken further and so on.
Until and unless the BOJ becomes more aggressive, Treasuries look like to have a systematic buyer turn into a systematic seller. China is likely a seller of treasuries and buyer of gold for political and strategic reasons, and Japan is a seller of treasuries for economic reasons. I am still baffled to why retail investors prefer treasuries to gold.
@DowdEdward Bank of Japan…possibly the spark for the unwinding of the Global Debt bubble. It’s a process and there will be responses and interventions. But make no mistake the process has begun and now it’s about how they will attempt to manage it and try to kick the can down the road.
Still think the consumer has problems…….
@TheMaverickWS The "healthy and robust" consumer
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Matthew Tuttle is the Chief Executive Officer and Chief Investment Officer of Tuttle Capital Management, LLC.
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