- July 15th morning, the unemployment claims came out at about 360,000, which was expected, and the 10 Year Note is trading at about 1.31/1.32, down a couple of percent.
- The market is still digesting the CPI news and the PPI, which indicates that inflation is running above expectations.
- There is great concern that, if interest rates rise, we could be in for a rough time ahead with current debt levels.
- If the supply chains can meet the tremendous demand that is coming back into the economy, then inflation may not be as bad as some fear.
For further details see:
Gold: Extreme Indifference Can Make A Long-Term Cyclical Bottom Unfold