US fiscal policy, the bond market, and gold.

Rising concerns around US fiscal solvency and sustainability and potential for financial repression are widening the US Sovereign CDS spread, weighing on the US dollar and supporting gold.

Policy uncertainty has exploded under President Trump…

Since the inauguration of President Trump on the 20^th of January, we’ve seen a surge in policy uncertainty with The Policy Uncertainty Project’s estimate of daily policy uncertainty index climbing to levels not seen in its forty-year history. The rise in economic policy uncertainty spans multiple asp…