- the SPTs had their way with the metals on Friday
- There’s lots of talk of “pleace”…
Good Day… And a Tom Terrific Tuesday to you! I don’t like the Reds one bit, not since the big brawl from probably 10 years ago… Their pitcher had his back against the backstop, and he started high kicking Cardinals players. One player suffered a concussion and had to hang his cleats up because of his recurring headaches… I’ll always remember that Reds player… Early warning… No Pfennig next Tuesday, Oncologist appt and infusion on tap… Johnny Rivers greets me this morning with his song: the Poor Side of Town…
Well, last week ended with a whimper for the dollar, and the BBDXY headed into the weekend at 1,202… Down just a smidgen… from Thursday’s 1,203… What I said last week about dollar traders not having a clue as to which way this war in Iran is going to go. So, for now, they’ll just sit on their hands until reliable news breaks one way or the other…
Gold ended the week with the SPTs in control of the metals… Gold was down $34 and Silver was down $1.16 Gold closed at $4.508 and Silver at $ 75.64…
And since I’ve been talking a lot about Copper lately, Copper finished the week up 85-cents to $6.37…
The price of Oil saw its traders take the bait, hook, line and sinker on all the people talking about Peace… I think, they’ll rue the day that they figure out that when an Iranian minister is quoted as say that the two sides are far apart and there are “deep divides” between words… So, who are you going to believe?
And the Fed Heads were back at their “yield control” buying of the 10-year on Friday, and so, the 10-year Treasury went into the weekend with its yield at 4.56%
Yesterday, while we were sitting outside remember those fallen soldiers for our country, Gold saw that there were no SPTs out and about, and Gold gained $60 on the day, and Silver gained $2.55… it was a banner day for the two and Gold closed at $4,569 and Silver at $77.95
In the overnight markets last night… The dollar wallowed and stayed in the 1,200 handle throughout the night… Same old reason for no movement, in my opinion… The SPTs are back and Gold is down $60 and Silver is down $1.75…. So, up one day and down the next continues for these two…
The price of Oil is getting sold as the “peace thought” is out there and really putting pressure on the price of Oil… Oil starts our day/ week trading with a $92 handle…
And the 10-year saw a ton of Fed Head Yield Control late last week and that carried over to this morning and the 10-year trades with a 4.49% yield.
I was very happy to see a copy of “In Gold We Trust” in my inbox on Thursday last week… This is the Bible as far as I’m concerned regarding information on Gold… the future, the past and the current… In the report they talked about how the word “Trust” is key in our world… and they said, “. Trust, in our view, is
currently being repriced – and the market is rendering its verdict in ounces.”
True, very true as the price of Gold goes from $600 in 2007, to its current price… The trust in our Governments, Treasuries, Central Banks has gone to hell in a handbasket… I’m just saying…
And here’s another very poignant view from their letter: “„You have to choose between trusting in the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government.
And, with all due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.”—- George Bernard Shaw
They also go on to explain that when Gold gets sold it’s used to pay for margin calls or other losses, and not just sold to get cash…
Chuck Again… All I’ll add to all of that is: Got Gold?
That was some piece on Gold today, eh? If you don’t own any right now, this is the time to buy it… Alasdair Macleod believes that Gold is getting ready for an “explosion” and that’s to the upside I might add!
Well, the markets are buying the words from the POTUS that he’ll announce a negotiated deal soon… And that means that for the time being the Risk On assets are back… But wait! Iran says no deal ‘imminent’ despite progress in talks with U.S… This is the same back and forth of words that we’ve been seeing, but the markets only believe one side of the words… And that’s too bad… In my humble opinion that is…
I truly believe that Gold’s selling it tied to investors that need liquid money now… Well, that and the SPT’s and their armfuls of short trades…
I saw a video over the weekend of an explanation of what Keven Warsh, the new Fed/ Cabal/ Cartel chairman is talking bout, so that he can push for a rate cut… He’s got this plan to change the way the Fed Heads look at inflation… he says they are currently doing it all wrong, and he’s going to change that… Well, he’s going to use what’s called “Trimmed inflation”… I’ll have more on this as we go along these days, because this is going to really cause a ripple effect of confusion…
The U.S. Data Cupboard from late last week had the Weekly Initial Jobless Claims, which were 209,000… And April Leading Indicators, which were negative -.3…. and from Thursday, we saw the S&P print of the manufacturing index, and it did stay above 50 this month, but not by much at 50.9….
Today’s Data Cupboard has the Case/Shiller Home Price Index (HPI) from March… and we’ll also see the color of the stupid Consumer Confidence report… I won’t believe for one minute IF the stupid Consumer Confidence report is strong… But, most of the real economic data is back loaded this week… For instance, the 2nd revision of 1st QTR GDP will print, along with Personal Income and Spending for April, and finally the presumably favorite inflation calc of the Fed Heads, PCE will print for April… Now, that’s enough data, eh?
For What It’s Worth… Last week I featured an article about how foreign Central Banks are reducing their Treasury holdings… And now this article is about the message that the bond boys are sending to Washington and it’s getting ugly, folks… And it can be found here: Is The Bond Market About To Break Washington | ZeroHedge
Or, here is your snippet: “The bond market is beginning to force reality onto Washington, and it may ultimately force an end to the Iran war long before politicians or diplomats are willing to admit it.
And now, beneath all the geopolitical noise, a much more serious, harder to ignore crisis is unfolding. As Cypher says in The Matrix: “Fasten your seat belt Dorothy, ’cause Kansas is going bye-bye.”
This crisis is in the Treasury market. Bond yields are moving sharply higher, and they are sending a message that policymakers can no longer afford to ignore: the financial system is becoming unstable under the weight of war spending, massive deficits, persistent inflation, and a debt load that was already unsustainable before this conflict began.
The bond market does not give a flying f**k about political narratives, gamma squeezes, meme stocks, retail investors or any other ticky tacky end-around style loopholes that continue to push stocks higher. It cares about math, fiscal policy and monetary policy. And the math is getting ugly very quickly.
The 10-year Treasury yield is arguably the single most important price in global finance because virtually every major asset class is built on top of it. Mortgage rates, commercial real estate valuations, private equity models, corporate borrowing costs, equity multiples, venture capital, and government financing itself all depend on stable Treasury markets. When yields rise too quickly, everything starts repricing at once. That is why this matters so much more than the daily moves in the stock market.
Washington understands this, even if it refuses to say it publicly.
The United States can survive political embarrassment overseas, but it simply cannot survive a disorderly Treasury market.
That is why I believe the bond market is eventually going to force a few things. First, a de-escalation of the Iran conflict. The priority now is no longer “victory” or even geopolitical strategy. The priority is restoring stability before bond yields spiral completely out of control. A prolonged war that keeps oil prices elevated while deficits explode higher is simply incompatible with a heavily indebted financial system already struggling under the burden of high interest rates.”
Chuck again… sorry about the language above, I just copied and pasted the article as is… But the bond boys are back! They’ve been like
Rumpelstiltskin for 20 years, but now they are back and demanding that Washington see them!
Market Prices 5/26/2026: American Style: A$ .7165, kiwi .5842, C$ .7239, euro 1.1635, sterling 1.3470, Swiss $1.2735, European Style: rand 16.3590, krone 9.2542, SEK 9.3008, forint 305.45, zloty 3.6367, koruna 20.8491, RUB 71.50, yen 159.20, sing 1.2778, HKD 7.8356, INR 95.68, China 6.7846, peso 17.29, BRL 5.0221, BBDXY 1,200, Dollar Index 98.97, Oil $ 92.80, 10-year 4.49%, Silver $76.11, Platinum $1,951.00, Palladium $1,403.00, Copper 6.37, and Gold… $4,509
That’s it for today… Well, did you have a good Memorial Day Weekend? The rain did leave us for a couple days, but it’ll be back later this week… My beloved Cardinals played those dreadful Reds between the raindrops… Next week we’ll be into June! Can you believe that we’re here already? I know time goes by faster as you age, but this speed is throwing me off! I smoked two Pork Butts on my Big Green Egg on Sunday (to eat Monday) so, I was outside almost all day… Oh, and the pulled pork was YUMMY! Eddie Money takes us to the finish line today with his song: Two Tickets To Paradise… I hope you have a Tom Terrific Tuesday today and Please Be Good To Yourself!