Has Gold Lost Its Safe Haven Status?
Gold is trading like a high-beta asset these days and not like a safe haven
EconomicsFinance
Robin J Brooks.
Robin Brooks on FX, macro, and the plumbing of global capital flows — Brookings senior fellow, former chief economist at IIF.
Recent essays
30 of 84Gold is NOT displacing the Dollar
It's the safe haven status of gold that's gotten dinged recently, not that of the Dollar
What Should Japan Do?
An imagined conversation on Japan with my friends Brad Setser and Joe Gagnon
The Latest Oil Price Panic
We're currently in the third big panic over oil prices - it'll end exactly like the first two
How the weak Yen pushes up US yields
Japan has to sell US Treasuries to get Dollars, which it needs to defend the Yen
Why is Germany's AfD gaining in the polls?
Immigration is a flow and a stock issue - the latter is what's driving the rise of the AfD
Four Charts for Sunday
Markets still price hikes from the Fed for this year, even though oil prices are down lots
Markets after the Iran war
A recording from Robin J Brooks's live video
How Quickly Will Oil Normalize?
My target for Brent - if we get a peace deal - is $85 and we're well on our way to that
Russia's Massive Oil Price Windfall
Russia's massive windfall is in equal parts due to the Iran war and EU fecklessness
Can Japan escape its debt trap?
There is a way, but the Yen will need to fall a lot further for Japan to embrace it
Why did the Brent oil price not go to $200?
The reason oil prices didn't spike to crazy levels is because this shock just isn't that big
What Demand Destruction Actually Looks Like
Oil price alarmists foretold terrible supply disruptions, but the data tell a different story
Markets after the war
Oil prices will tumble, markets will go back to pricing cuts for the Fed, and USD will fall
Four Charts for Sunday
The Japanese Yen has fallen below Turkish Lira to become the world's weakest currency
Update on the blockade, Canada, Turkey and yields
A recording from Robin J Brooks's live video
The US Blockade of Iran after Six Weeks
Much of the commentary on the US blockade says it's failed, but that's total nonsense
Turkey blows itself up - again
The paths will vary, but the final destination for Erdogan's Turkey is always devaluation
Why have Canada and Mexico stopped growing?
Real GDP per capita is stagnating in Canada and Mexico, while the US is powering ahead
What's driving the bond market sell-off?
Longer-term yields are belatedly catching up with expectations for central bank hikes
Debunking Bond Market Sell-Off Myths
Everything you need to know about the sell-off, from shadow yields to Dollar shortage
A Different Perspective on the Strait of Hormuz
China's exports to countries in the Persian Gulf have collapsed, including those to Iran
"Liz Truss" Bond Market Blow-Ups
Bond market blow-ups that also see the currency fall are increasingly common in the G10
Four Charts for Sunday
The global spike in long-term yields and what it means to have a "Liz Truss" sell-off
The Moment of Truth for Gold
A recording from Robin J Brooks's live video
A Moment of Truth for Gold
Yesterday's fall in gold prices means the debasement trade is in trouble
Will China ever allow the RMB to rise?
China's RMB is at least 20 percent undervalued, but Beijing will never allow it to rise
Please Stop Trash-Talking Oil Price Futures
Oil price futures are far from perfect, but they're way better than any alternatives
Is US inflation picking up?
There's NO sign underlying inflation is picking up despite yesterday's "hot" CPI
The United States of Oil
Everything you need to know about US oil exports