A Little Normalcy?
Broad pre-taper tantrum drives a sharp sell-down of big board stocks, and gold and golds neutral to positive.
Finally, someting expected, gold as a portfolio stabilizer ... works!
Jitters and profit taking. How aggressive can the FED dot-plot be? Or the tapering of QE-permanent?
Knowing how money talks in most countries, nothing like the market getting fed up with limping economic progress in the face of stubborn Covid variants and continuing infection rates to push for more aggressive mandates and sanctions against unvaccinated folks. Talk about your freedom and any other ethos you want, but hey, if my 401K or equivalent is shrinking, that's unacceptable!
cg