Risk On Shifts to Caution as July CPI Looms

The Milk Road Macro Index has shifted to 'RISK ON' after last week's move. However, it's already pulling back slightly, with a headline allocation posture of +0.30 as of today.

The index is set to face tests from tomorrow's July CPI and the August 14th GDPNow revision. The stakes are higher now, with even an in-line print potentially pushing inflation worries.

Jan Van Eck wants both Bitcoin and gold in his portfolio, viewing them as different assets. This comes as ETF inflows have picked up again and Saylor's selling isn't moving the price down anymore.