Walk in the Pines #3

This Week's Best

Chart of the Week

As tempting as it was to throw up the silver chart - I already forced myself to write about it for The Cascade this week. I think the chart of Dollar/Swiss is important right now and it nearly mirrors the dollar index chart. It is put up or shut up time for the dollar to break higher.

Tweet of the Week

This was a good thread from Michael Pettis on the daisy chain that is perpetual bonds issued by banks in China. That is my wording of course but Pettis explains how they all buy each other’s bonds and to me that looks pretty ugly.

Reads of the Week:

• A theme I keep hammering – state and local government finances and their macro impact. Good BBG piece.

• My friend Sune with an interesting piece on crypto.

• Good WP article on supply chain and shipping shocks. This could get inflationary in the short term.

Listens of the Week:

• Salem Abraham on the Meb Faber Show. This was a great interview with a great trader who worked with many of the all-time greats over the years.

• Never miss Russell Napier.

• Jon Turek with a great interview on Macro Hive. Jon is my favorite Fed watcher in the game.

Watch of the Week:

• Interesting energy discussion with Kenneth Hersh and David Salem.

  Quote of the Week

  

  -Marcus Aurelius