Weekly Portfolio Update, February 11, 2024
Overvalued stocks and rising interest rates are a volatile mix
Another week of rising tech and falling commodities. This is painful but temporary because overvalued stocks and rising interest rates don’t coexist for long. Meanwhile (with the exception of uranium, which has had a great year), commodities and their miners are now crazy cheap.
Macro News
US government debt to top $54 trillion in next decade, CBO says
As the S&P 500 breaches 5,000, its valuation hits lofty levels as well
Corporate insiders are dumping their shares
2-year, 10-year Treasury yields at highest levels since December after modest CPI revisions
Sector News
Why gold will continue to rise
The mining industry is dogged by retirements and lack of new recruits
2023 was a record year for gold demand
Oil stocks should be popular like semis, but no one cares
Silver is the new gold as Egyptians try to protect their savings
Correction ahead for the uranium market
China’s central bank buys 10 tonnes of gold, extending its buying spree
Gold market hides massive shift. Global demand is now price-insensitive
China’s equity slide is supercharging gold demand
Bitcoin surges above $48k, Ether reclaims $2,500 as the crypto bull heats up
US commercial real estate contagion is now moving to Europe
Median home prices are falling at the fastest rate since 1964
Regional bank hit with third credit downgrade as crisis concerns linger