Ironically the asset class that will benefit most from rate hikes is the one traders least expect, gold. The conventional wisdom today believes gold is going to get wrecked by rising rates since it has no yield. But just the opposite has proven true historically! Gold is an alternative asset, and demand for these critical portfolio diversifiers soars when conventional stocks and bonds are struggling. Like during rate hikes. During the Fed’s last rate-hike cycle between June 2004 and June 2006 where the Federal Funds Rate was more than quintupled to 5.25%, gold actually soared 50% higher! And in the 1970s when the Fed catapulted its FFR from 3.5% in early 1971 to a crazy 20.0% by early 1980, gold skyrocketed an astounding 24.3x higher! Higher rates really hurt stocks and bonds, rekindling investment demand for alternatives.
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Why The Taper Matters (In One Simple Chart) Submitted by Tyler Durden on 08/15/2013 21:31 -0400 Obviously, there are numerous reasons why (no matter what the economic situation is) the Fed will need to Taper ( deficits , technical fragilities , and sentiment ). Furthermore, it seems the world is more than happy to give the central bankers the benefit of the doubt that not only is Tapering not tightening but that Tapering is a 'positive' as it means all is rosy in the world (despite our earlier point of the 'difficulty' that any actual unwind poses ). However, there is one big reason ( highlighted further this morning in the TIC data ) why the Fed's Taper matters... they are (simply put) the only one buying... 5Y-30Y Treasury holdings... Source: BofAML Average: 4.833335 Your rating: None Average: 4.8 ( 6 votes) Similar Articles You Might Enjoy: Housing Recovery Lessons From Japan (In One Chart) Why The ECB's Monetization Is Doomed In One Simple Chart Why Politicians Hate Austerity - In One Simple Chart Pick The Fraud One Out: An Abridged Overview Of US Markets And Economics In Five Plus One Simple Charts Charting The Simple Reason Why Every 'Bailout' In Europe Will Be Faded
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