Happy 4th of July
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Bitcoin is $62,542, up from $62,047 at 12:56 Friday | 8:53 Sat
Week Ahead
The Federal Reserve will release minutes from its June meeting to unveil insights on a divided FOMC. On the data front, the US will release the ISM Services PMI, existing home sales, and its full trade balance
US cash markets are closed for the July 4th holiday
The two-year US yield finished the holiday-shortened week slightly below 4.14%. | Marc
It was at 4.18% after the Fed's hawkish hold last month and peaked above 4.20%. It sounds simplistic, but in the current environment as goes the US two-year yield, so goes the dollar.
The dollar index held below 101 on Friday after tumbling in the previous session, as weaker-than-expected US labor market data led traders to dial back expectations for Federal Reserve rate hikes this year. Fed funds futures now imply roughly a 50% chance of a September rate hike, down from 67% before the latest employment report.
Our Semiquincentennial Gilded Age | CBB Weekly
Historic loose conditions and a mania wouldn’t let a pesky war, Strait of Hormuz closing, inflation scare, and backup in bond yields interrupt the party. Record leverage is sweeping through the financial system, exposing hedge funds, banks, retail traders and money market funds to potential mounting losses. It will be a heck of a challenge to explain this period to future generations.
Debt Rattle
* We’re watching a modern-day French Revolution play out as socialists hijack the Democratic Party
* America, in Mamdani’s view, is a sad place where heartless, racist, xenophobic plutocrats rule the roost.
* Merz is dragging Germany to its grave. It is too late. Expect fighting in the streets.
The Week in Pictures
No Kings Day!
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Email: wkidder42@gmail.com
Text: 1 646 257 2130
Voice: Use WhatsApp +1 646 257 2130 at 1:00 AM