Silver Explodes, AI Wobbles

Friday 12 December 2025

Big in small

Russell extending the break out move. This looks like an inverse head and shoulders formation. Plenty of room to run before we reach trend channel highs.

The Russell fear fade

Russell volatility, RVX, just closed at the lowest levels since March. Tech volatility, VXN, not so much…

Wow

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.