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Mike McGlone draws attention to the comparative performance of U.S. Treasuries and gold, suggesting that Treasuries have reached historical lows relative to gold. He implies that even a basic market catalyst could drive some reversion in this trend. McGlone further hints at the idea of overweighting U.S. Treasuries as an investment stance, adding a lighthearted comment about compliance policies.
McGlone has recently highlighted several notable market shifts. He suggested that WTI crude oil could slip below $50 by the U.S. midterms, signaling bearish sentiment for the energy sector. In an earlier note, he observed that Bitcoin’s correlation with stocks had broken down, raising the possibility of a severe pullback in cryptocurrencies. The latest commentary adds to his ongoing focus on valuations across asset classes.