ADXY

Via Horseman Capital's Russell Clark,

“The upshot of this is that gold looks better than treasuries. However, it should be pointed out that this does not mean gold is a buy. It only states that gold could do better than treasuries in these market conditions.”

“In my view, the Trump election has made a large Chinese devaluation more likely. Mainland Chinese investors are desperately trying to get out of the Yuan, and the People’s Bank of China is trying to defend the value of the Yuan. They are doing this by selling treasuries.”

       - Russell Clark, Horseman Global