Markets remain relatively calm, but that could change quickly with PPI, CPI, the September futures roll and the Fed all approaching. Here’s what I’m watching across bonds, gold, USDJPY, SPY, QQQ and VIX.
Treasury’s Bond Intervention Is Here. What Comes Next?
Treasury’s intervention was never large enough to permanently reverse long-term yields. The bigger question is whether Bessent and the Fed are setting up a Yellen-style liquidity regime through bond buybacks, shorter-term issuance and reserve management.
Treasury’s Bond Intervention Is Here. What Comes Next?
The latest CPI report was broadly dovish, although core inflation was firmer than my estimate. Crowded bond shorts, falling Treasury yields and bullish options positioning could now support another move higher in SPY, QQQ and SOXX.
CPI Expectations: Softer Inflation Could Fuel an SPY Squeeze
CPI expectations point to a softer inflation report. I explain the potential upside-squeeze setup and the key SPY, QQQ and VIX positioning levels I am watching.
Gold Outlook 2026: “Hidden QE” and My Price Target
Gold may be starting its next leg higher. Central-bank and Chinese demand remain strong, Western positioning is far from euphoric, liquidity conditions are improving and GLD options positioning $400 firmly on my radar and $4700 later on in the year
Semiconductor Options Flow Strengthens as SPY Tests $760
Semiconductor options flow is strengthening as volatility normalises and buyback demand returns. I break down the key positioning levels for SOXX, SPY and QQQ.