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Otavio (Tavi) Costa, portfolio manager at Crescat Capital, questions the view that the Federal Reserve is set to become meaningfully hawkish based on recent market charts.
He compares this sentiment to the previous belief in the DOGE token narrative and points out that, while many investors expected government spending to finally decline, it remained unchanged.
Costa has previously highlighted trends in the metals sector. In one report, he noted that silver miners could see a breakout as selling prices near $75 per ounce far exceed production costs. In a separate observation, Costa pointed to a shift among gold miners as the sector displayed signs of a bottoming process.