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The first quarter of 2024 has surprised on the economic front. Instead of the anticipated slowdown, coupled with US outperformance ending, what we saw was global economic activity picking up and stronger-than-expected global growth. The US posted better-than-expected Q4 2023 GDP figures and positive manufacturing and services surveys. The big surprise was ...
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One of the most well-defined relationships between the gold price and other financial products has broken down over the last 24 months. Since around the year 2000, gold has exhibited a relatively strong inverse relationship with yields on the 10-year US Treasury note. This is to be expected as the non-yielding nature of bullion means that as the coupon paid ...