S&P 500/Gold, Fed Funds Echo 2007 - The S&P 500-to-gold ratio is breaking down, similar to the lead-up to the great recession. Dropping below 1.94 ounces of the metal equal to the stock index, alongside fed funds futures in one year (FF12) indicating more than 100 bps of easing, has occurred only twice before now: 2007 and 2020. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/t2h02bgpwcnf {BI COMD} #gold #stockmarket #bonds #macroeconomis @BBGIntelligence(Mike McGlone)