My writings have been relatively less frequent over the past month, but this is because I’m waiting for some opportunities to reveal themselves in the marketplace. There has been some renewed volatility over the past couple of weeks and some momentum-reversing trends (e.g. spot natural gas is finally showing an uptick), but other trends are back to their usual self (e.g. US 30-year treasury bonds at a very low 3% yield).
All I know is that reaching for yield becomes more and more risky. Avoid the yield since it is most likely an illusion that will give you a few pennies of income in exchange for a few dollars of capital.