Answer (as given by TIP/TLT): Yes, the Fed stands down; a world full of casino patrons gets hysterical about the impending deflationary collapse!
Answer (as given the by the Silver-Gold ratio): Ah, not so fast.
Is it a less dramatic version of January/February? Back then the miners went up while the Silver-Gold ratio went down (along with broad markets) before the big relief in commodities and stocks that hit its stride at the beginning of March.
The counter-cyclical items lead in times of stress, but the Silver-Gold ratio would indicate whether inflation is coming back in view and hence an environment when other items can benefit.
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