Gold-Price Indicator Fading as ETPs Tumble by $71 Billion – Bloomberg 08-28-14

Salient to Investors: Gold prices and gold ETP holdings have the most-negative correlation since 2004, making the latter less useful as market predictors..  Mark Luschini at Janney Montgomery Scott said the disconnect is because a lot of money has left. Comex open interest fell to a 5-yr low this month and volatility

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Hatzius Sees Little Pent-Up U.S. Wage Deflation Yellen Cited – Bloomberg 08-27-14

Salient to Investors: Jan Hatzius at Goldman Sachs said: There is little evidence of the “pent-up wage deflation” that Yellen cites as a possible reason behind the slow increase in earnings and says the opposite was true, with the areas having below-average wage growth during the recession now showing above-average

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Goldman Sees Risk of Stock Decline on Rising Bond Yields – Bloomberg 07-25-14

Salient to Investors: David Kostin, Kathy Matsui, Peter Oppenheimer et al at Goldman Sachs lowered their rating on stocks to neutral and corporate credit to underweight on belief that global equities and bonds may drop in the next 3 months, and stocks may temporarily fall, as rising inflation boosts government bonds and

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Small-Cap VIX Up 11% Echoes Fed Concern for Valuations – Bloomberg 07-21-14

Salient to Investors: The Russell 2000 VIX is up almost 11 percent in 2014 versus a 6.6 percent drop in the VIX and at its highest level since 2006 relative to the VIX. Russell Rhoads at CBOE’s Options Institute said the premium indicates we would get a bigger pullback in small-caps than large-caps in a market

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Goldman Stays Gold Bear as Bullish Wagers Increase – Bloomberg 07-14-14

Salient to Investors: Jeffrey Currie at Goldman Sachs predicts gold to fall to $1,050 by year-end as the economy improves and there is more confidence in the recovery, without significant inflationary concerns. Goldman predicts higher interest rates in Q3, 2015. Last week, net-long positions in gold rose to their highest

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Gold Shines Again as Hedge Funds Boost Wagers on Advance – Bloomberg 07-08-14

Salient to Investors: Money managers increased net-long positions in gold for a fourth straight week through July 1 and assets in gold-backed global ETPs are rising at the fastest pace since November 2012. John Kinsey at Caldwell Securities expects further gold strength through 2014. Societe Generale predicts gold prices will

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