We are now looking at DEBT MADNESS. Take a look at this shocker!
October 9 (King World News) – Peter Boockvar: The 10 year note auction was mediocre on the surface but soft relative to pricing this morning. While the yield of 4.066% was only just above the when issued of 4.062%, the off the run 10 yr yield was trading between 4.03-.05% from 8am-12pm. The bid to cover of 2.48 was just a hair below the one year average of 2.51. Direct and indirect bidders took down 86% of the auction which is about the 12 month average of 85%.
Bottom Line
Bottom line, yields across the curve are at the highs of the day with the 10 year yield now at 4.07%, the highest since late July.
DEBT MADNESS: US $1.8 Trillion Deficit = 6% OF GDP!!
While the Fed’s aggressive rate cut, the China stimulus news, and the better than expected jobs report are likely factors in the recent lift, maybe it’s not a coincidence that it comes a day after we heard the federal government announced a $1.8 trillion budget deficit which is about 6% of GDP in its fiscal year ended September 30th.
Yet Another Gold Bull Catalyst
King World News note: The United States is headed for a fiscal crisis and it will come much sooner than people think. But at the end of the day, this is additional fuel that will turbocharge what will eventually be the gold greatest bull market in history. For now, continue to accumulate physical silver on any major weakness. For those in high-quality mining and exploration stocks, remain patient. The “Wall of Terror” the market is climbing will propel prices much higher than what is being quoted today, eventually culminating in a mania.
Nomi Prins Just Made Two Shocking Price Predictions For Silver!
To listen to Nomi Prins’s two shocking predictions for the price of silver as well as her discussion on gold, uranium, oil, war, what surprises to expect in the last few months of 2024 and much more CLICK HERE OR ON THE IMAGE BELOW.
Just Released!
***To listen to Alasdair Macleod’s just released audio interview covering the wild trading he expects to see in the coming weeks in gold and silver CLICK HERE OR ON THE IMAGE BELOW.
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