The Great Migration: What The Dow-To-Gold Ratio Is Telling Us

WTI Rises As Distillate Stocks Draw, Cushing Back Near 'Tank Bottoms', SPR At 43-Year Lows Oil prices are chopping sideways (to modestly higher) for the second day in a row as traders weighed the 'dark fleet' transits with renewed tensions in the Middle East further clouding the outlook for flows through the vital Strait of Hormuz. “A combination of the escalation between the UAE and Iran, coupled with a market increasingly pricing a ‘closed for longer scenario,’ keeps oil and refined products supported,” said Arne Lohmann Rasmussen, chief analyst at Global Risk...

US Savings Rate Tumbles Despite Lowest Jobless Claims Data In 57 Years The number of Americans filing for unemployment benefits remained near its lowest levels since 1969 last week at just 197k (below the 200k exp)... Continuing jobless claims are also falling back to cyclical lows... Additionally, both income and spending are also trending higher... But overall, the savings rate is tumbling... So, the 'low hire, no fire' economy leaves Americans still spending but higher prices are forcing savings to be drawn down to maintain quality of life. Tyler...