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Gold Is Far Below Its Record While Every Reason to Own It Got Louder
Spot gold traded near $4,380 an ounce at the start of September, down about 1.4% on the day and roughly a fifth
Daniel Whitmore
Tariffs Moved From Emergency Powers to the Statute Book, and That Changes Who Carries the Risk
On February 20 the Supreme Court held that the International Emergency Economic Powers Act does not authorize the president to impose tariffs, striking down
Daniel Whitmore
Payrolls Are Already Shrinking and the Fed May Still Hike Into It
The July employment report showed nonfarm payrolls falling by 23,000, and it revised the two prior months down by a combined 103,000.
Daniel Whitmore
Crude Rebuilt Its War Premium in a Week, and the Fed Has to Price It
Brent settled around $89 and West Texas Intermediate around $84 on August 31, after US forces struck Iranian launchers on Larak Island in the
Daniel Whitmore
The Long End Stopped Taking Orders From the Treasury Department
On August 17 the 30-year Treasury yield topped 5.31%, the highest level in 19 years and the highest since 2007. Two days
Daniel Whitmore
America Is More Than Half Import-Reliant on 30 Critical Minerals, and China Just Tightened the Screws Again
The US Geological Survey puts it plainly: America remains more than 50% import-reliant for over 30 critical minerals and metals, and entirely import-
Daniel Whitmore
Homebuilders Have Cut Prices for 16 Straight Months, and Sentiment Still Won't Recover
Builder sentiment ticked up a single point to 35 in August, a reading the National Association of Home Builders itself still classifies as weak,
Daniel Whitmore
Private Credit Averted Its Worst-Case Scenario, but Redemptions Are Still Climbing
The $1.8 trillion private credit market has been under real pressure this year, and the honest read on where things stand sits between
Daniel Whitmore
The Dollar Fell 2.5% in a Month, and Jackson Hole Is About to Decide What Happens Next
The Dollar Index sat at 98.99 as of late August, up slightly on the day but down 2.51% over the trailing month
Daniel Whitmore
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