All quiet on the eastern front…
Here is the chart I promised yesterday, the spread between the 12m swap and spot price expressed as a percentage of spot:
Oh yeh, the rally is out of room, in fact, overshot already.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.