geopolitics stocks housing oil Midterms are ‘seasonally bullish' for markets; A Republican Congress would create beneficial ‘deadlock' - Bill Baruch
Tuesday’s midterm elections are likely to see a Republican victory, which would lead to beneficial “deadlock” on Capitol Hill, said Bill Baruch, President of Blue Line Futures.
Housing and Inflation The S&P Case-Shiller housing price index shows that the pace of housing price increases has started to cool. As the Fed raises rates, pushing mortgage rates up and house prices down, Baruch said that firms and individuals are waiting patiently with cash for an opportunity to buy property.
Some traders have speculated that housing prices will stay elevated, due to these wealthy investors. Baruch said that this would keep inflation elevated. Geopolitical Risk and Gold After Russia invaded Ukraine in February, the price of gold rose to just over $2,000 per ounce. Baruch stressed that this is due to gold’s perceived “safe haven” properties.“A lot of the time, if gold is in an uptrend at the outbreak of the war, you actually could get capitulatory action, where people are already long and it has served its purpose,” he said. “It met its purpose and then rallied into the headlines of war. Buy the rumor, sell the news.
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