Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at tightening consumer credit. (See the Economy & Finance section.)
Precious Metals:
Trend reversal in silver is coming: TD Securities bets long on silver
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Gold Price Forecast – The Strong Bearish Signs From Palladium And Platinum
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US Bank’s Haworth: rising Fed balance sheet should support gold prices
Economy & Finance:
The New York Times reports:
Unemployment in U.S. Unexpectedly Fell in May: Live Updates. An excerpt:
“The job market unexpectedly reversed its free fall in May as employers brought back millions of workers after pandemic-induced layoffs and the unemployment rate declined.
Tens of millions remain out of work, and the unemployment rate, which fell to 13.3 percent from 14.7 percent in April, remains higher than in any previous postwar recession.”
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At Zero Hedge: Trump Says He Will Ask Congress To Pass More Stimulus As He Praises V-Shaped Recovery
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Issuers may reduce credit limits for some cardholders amid coronavirus pandemic. JWR’s Comments: If the Powers That Be want to kill the economy, then there is no better way than to contract the availability of consumer credit. Home mortgages, HELOCs, and credit card limits have all been tightened in recent weeks. The fix may be in, to assure that a Democrat takes the White House, in November.
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At Wolf Street: Fed Tapered QE Helicopter Money for Wall Street Further: MBS Fell. Treasuries Barely Rose. Liquidity Swaps & Repos Stalled.
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Ads another from Wolf: Treasury Market Smells a Rat: Steepest Yield Curve Since 2017 Despite QE. JWR’s Comment: A steepening yield curve can be a sign of inflation ahead!
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And over at CNBC: Mortgage demand from homebuyers jumps 18%, as interest rates set another record low