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It's one thing to have a bond rout in the US where massive investments are taking place, but we see cracks in French, Greek and Italian bonds where there's no underlying economic strength supporting higher yields, @WSJ writes
wsj.com/finance/invest…

Fed speeches common thread: 'one more hike this year, but no urgency'.
Latest is NY Fed's Williams. Market odds for an October hike have now just >50% from ~70% earlier today.
Remember Warsh saying: "we removed a dose of accommodation" -- there's no urgency.

S&P reacting to bond selloff

10Y yield (here inverted) in blue jumping to 5.25%, S&P sells off with it
intra-day, src BBG

Q: is the volatility in gold typical?
@BloombergRadio guest: no

Not quite. What's "typical" is that periods of volatility comparable to the S&P are interrupted by periods of substantial volatility. Don't have a mindset low volatility is normal during such times.

Q: is the volatility in gold typical?
@BloombergRadio guest: no

Not quite. What's "typical" is that periods of volatility comparable to the S&P are interrupted by periods of substantial periods. Don't have a mindset low volatility is normal during such times.

Oh, and then there is the part @neils_C didn’t write. I cautioned Canada based Neils that the 🇪🇺 will start regulating 🇨🇦🍁-syrup. I thought that’s at least as important as monetary policy and gold…😜
Thanks for catching up and a great interview, Neils,

Nuanced discussion with @neils_C on gold. 👇 x.com/kitconewsnow/s…