Macro Outlook - 9 December 2024
You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology.
We are struggling with the phasing analysis of 10 year notes (TY1) and are omitting from today's note until we get a handle on it. Update likely tomorrow. Elsewhere the key index to watch is the US Dollar - potentially emerging from an 80 day cycle trough (together with USDJPY). Gold's 40 day cycle looks heavy, Oil is testing an 80 day cycle low, S&P500 futures look to have more upside play, Bitcoin still has legs but look for a near term 20 day cycle chicane.
