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For contrast, note the high positive correlations of March 20-21 with stable ratios around 460 pounds per ounce. Now, gold and oil correlate positively on geopolitical tensions; copper, negatively. I increased positions in Pimco's BOND & Gundlach's Double Line TOTL bond funds when copper started to fall away from gold post-March 21 (see chart).Both funds have bullishly trended higher since mid-March.The error standard deviation between the model and actual yield is less than 15 basis points (bps).
The copper trajectory (red) shows a rapid decorrelation velocity beginning April 10.Please do your own research; today’s markets can turn on you faster than a feral cat. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc.The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. This article is strictly for informational purposes only.I just can't get it to auto launch Sf B after the device is powered up and logins in to Windows 10.
April 18, 2017 Bond guru Jeffrey Gundlach of Double Line Capital noted in his 2017 forecast that the copper-to-gold ratio is a "fantastic" coincident indicator of interest rates.
A correlation map is a valuable technique for detecting this event and, by the Gundlach relation, a likely drop in interest rates.