Charts today - gold, high yield, UK property and a slip again into negative UK real wages

Charts today starts with an important reminder from Robert Main's latest research (link here) that the gold miners index (GDX) is at an important level...

As discussed late last week, Randgold Resources remains my favourite.

Not much favouriting going on in the high yield bond market.  Amazing how this market has slipped away into the biggest bear run seen to date (but note prices adjusted further in shorter historic sell-offs).  Interesting.  I am still generally sticking to equities albeit acknowledging their volatility...and call option upside (over time) via stock picking / theme selection.

Henry Pryor (@HenryPryor) put together a series of interesting UK housing market tweets over the weekend.  This was one of my favourites:

 Possibly something linked with the above is the push back again (after a brief positive flirtation) of negative real wages in the UK.  Hmm.