Macro Mondays | Watch out for CPI!

On today’s show James looks back on last week’s disappointing data, this weeks upcoming CPI data, and key levels in markets, particularly looking at equities, fixed income and also gold.

Precious metals are rallying again. The PBOC bought gold for 18th straight month in April, adding 60k Troy ounces to its reserves. In fact, Global central banks have bought 2,100 tonnes of gold in the last 2 years.

James digs into why the stocks we couldn’t stop hearing about, by the likes of Peloton, Beyond Meat, Zoom, Rivian and Lucid have fallen by up to 90%, while the S&P and Nasdaq are a fraction off making new all-time highs.

The big mover this week was again cocoa. In one week, it has seen a 1-day fall by 15%, a 1-day rally by 13%. Both are the largest 1-day swings in 65 years.