BUSCH UPDATE VIDEO BLOG
Busch Update Vlog Friday, May 17th: EURUSD trade
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Gold Bugs Bitten: Soros, NTRS, BlckRck dump
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Yesterday, I did a hit for CNBC on gold (video here) and I mentioned that big players were dumping when we broke $1,500. Yesterday as well, the SEC released a filing that showed Soros Fund Management LLC lowered its investment in the SPDR Gold Trust, the biggest such fund, by 12 percent to 530,900 shares as of March 31, compared to Q4 2012. Also, Northern Trust and BlackRock dumped around 50% of their holdings. However, the largest investor in the ETF, Paulson&Co., maintained their massive holding of 21.8mn shares of the 353mn shares outstanding. Spot gold is down … …READ MORE
Busch Update Top 3MM: JPY GDP, Weak US data, Soros sells Gld
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1. Japanese GDP. Abenomics appears to be paying a quick dividend as Japan’s GDP grew at the fastest pace in 12mths. Q1 GDP grew at an annualized rate of 3.5% vse. 2.7% and after growing 1% in Q4 2012. Key to increase: a 3.8% rise in exports and we know that was bolstered by a massive depreciation of the Japanese currency since Abe announced his candidacy would be based on exactly that. On the news, the markets sold USDJPY on the thought that maybe Abenomics will back off the push for further weakness. BTW, a spokesman for China’s Commerce Ministry … …READ MORE








