In this week’s Markets in Motion, Bruce Campbell highlights the biggest catalyst on the horizon: the upcoming Federal Reserve announcement. Markets are overwhelmingly pricing in a quarter-point fed rate cut, with roughly 85 per cent of expectations leaning in that direction. With sentiment already tilting toward easing, investors will be watching closely for confirmation.
Bruce also flags movement in the 10-year Treasury yield, which is now approaching the 4.25 per cent level. A decisive push above that threshold could pressure gold, though he notes that gold remains near all-time highs for now.
Silver, meanwhile, continues to be one of the strongest performers across commodities. Prices are pushing toward the US$60 level, and Bruce points out that both small-cap and intermediate silver stocks are beginning to rally. New financings in the silver space suggest increasing confidence as the metal plays catch-up to gold.
Market sentiment indicators also remain supportive. The VIX sits below 18, a zone typically associated with stability and constructive market conditions. However, Bruce notes that the NAAIM exposure index, which tracks active investment managers, is now just below 100. Historically, when that reading pushes above 100, markets often experience bouts of volatility. With fresh data due on Thursday, it’s a key number to watch.
Bruce wraps by encouraging viewers to monitor the Fed rate decision, bond yields, and silver’s momentum as markets head into a potentially pivotal week.
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