They are used to justify inflationary policies, and by that I mean they are used as an excuse for the Fed to Print BRRR to buy UST issuance that the market won't buy. This is what causes inflation, and printing money depresses the US Yields - which creates the boom bust cycle of malinvestment in the SM. They can't go Brrr right now until inflation comes down... or at least, they can't without pumping inflation back up.
Just a little fyi. This is the US price of gold. The US govt is bankrupt and running exponential deficits. like Argentina or Weimar. Shorting gold is insane right now.
Don't forget that ALL wars are central bank wars. Ukraine was started to distract from inflation. Hamas is to distract from interest rates. If that doesn't work, theyll tell China to send a fleet to Taiwan.
Oh. Why would you sell them? High rates. Ridiculous PE. Overstated earnings last quarter. Collapsing retail spending globally. Meanwhile NVDA is priced like the Fed was printing, when they have pulled $2.5 T out of the economy this year so far. I'm short and sitting on my hands.