Good Day… and Marvelous Monday to you! Well, Friday night, my beloved Mizzou Tigers and St. Louis U, played basketball it was the first time in a long time that they have played each other… And Saturday brought us the Mizzou Football team playing Texas… And that didn’t turn out too good. R.E.M. play their song: It’s The End Of The World.
I have to get this off my chest this morning… the BLS added 412,000 jobs to surveys, that when done the BLS said that 165,000 jobs had been created… In all of 2026 they added a net of 3,382 jobs… This is ridiculous folks… They’ll have to admit that they added all these jobs in error at some time in 2027, but by then, everyone (except me) will have forgotten that the BLS cooked the books in 2026… And by then the masses will have gone on the data of 2027 and each month in 2026 will show the wrong employment numbers.
The reason I get so upset by the BLS is that 1. The are lying to the American public, and 2. The erroneous job numbers give the dollar an extra push… So, the dollar gets pushed upward because this time because the so-called strong number tells the markets that the rate hike is a go for 12/9.
So, the dollar buying went through the roof on Friday and the BBDY rose more than 5 points on the day, to 1,226… I said that the dollar would stop getting sold after the mid-terms were over, but I didn’t think that it would go on a run like this.
Gold, after having a banner day in price movement, had to suffer through two days (Thurs and Fri) of SPTs getting the most of their days of shorting the two… Of course, the feeling in the markets that a rate cut is coming, no matter what. That’s not the selling I’m talking about… Gold ended the week at $ 4,072 and Silver wasn’t far behind the attention that Gold received from the SPTs and end the week at $52.07.
The price of Oil bumped higher to a $90 handle going into the weekend. The 10-year Treasury saw a very volatile day on Friday… After bonds got initially sold and the yield went to 4.90%, the Fed Heads stepped in and bought and the yield went back down to 4.85%. If you were one that thought the Fed Heads were just joshing when they said that they were going to buy the 10-year, you feel a little foolish right now eh?
In the overnight markets last night… the dollar went back to getting sold and the 5 index points it gained on Friday was almost wiped out.. The dollar was sold by 4 index points in the BBDXY last night.. The foreigners are thinking that the U.S. will go into a spending spree and the dollar will suffer. So, they started the “sell the dollar or the everything American” again.
Gold and Silver were the beneficiaries of that mantra, and Gold is up $44, this morning, as is Silver being up .59-cents… Our fiscal debt is the reason for the mantra being brought out again… And it’s only going to get worse…. And quickly too.
The overnight markets brought down the price of Oil as it sits at an $88 handle this morning… And the 10-year Treasury is 4.87% this morning.
Well, the Bank of England did something on Thursday that they haven’t done in a month of Sundays and that is they hiked rates! They hiked them 25 basis points to 4%… It’s about time they got off their collective duffs and did something about their inflation is the markets point of view… Mine is a bit different as you would expect… But I don’t have time for that today.
The gulf of Hormuz is on fire and the U.S. has decided that a retaliation will have to wait… 5 oil tankers were attacked by the Iranian factions.
The Dollar is in trouble again, but this time it starts from a higher value… I just don’t think that the ads that ran for the new party members had any thoughts on how to reduce our fiscal debt…
That’s the problem the Globe has gone to the out of this world debt situation, and no one, not even the propeller heads of Washington… and eventually this debt will come crashing down. And all the people will be unprepared for this event… Got Gold?
I put my thoughts on this about 12 years ago in a Sunday Pfennig, called: Chuck’s Debt Solution… I even went to Conferences and did a spiel on this… I tried everything to retrieve this piece, and even contacted Frank Trotter who is the smarted man in any room, but he couldn’t find it… So, I’ll have to come up with my thoughts again… But, when I do, it’ll be the only piece that tells the powers that are in Washington, what we need, as a country to do to get some relief in our debt.
I’m not doing too well these days, so I’m heading to the Big Finish now.. Sorry…
The U.S. Data Cupboard we already touched on above… The STUPID BLS members added 412,000 jobs to the surveys…. And looky there, the STUPID CPI for Rocktober this morning… They will show that inflation went higher in the month, but remember, they are starting much lower that the real Inflation.
To recap… Friday saw the dollar go on a warpath and gained 5 index points, but overnight last night the “Sell America” returned and the dollar got sold by 4 index points.. The Bank of England finally hiked rates on Thursday last week.
Here’s your snippet: “Richmond Federal Reserve President Thomas Barkin said Thursday that he expects the central bank will have to raise interest rates further, though he’s not sure by how much or at what pace.
In a CNBC interview that was part of the Richmond Fed’s 2026 CFO Summit, the policymaker expressed concern over inflation and said monetary policy will need to adjust.
“Unemployment’s near record lows, and inflation is too high. That means the path is pretty straightforward. The question, of course, is pace,” Barkin said in the talk with CNBC’s Steve Liesman.
“Gradual makes sense if you think there’s uncertainty in the world, and if you think that there’s information you’re going to get in the period. And I think that’s still a pace that makes sense to me,” he added.”
Chuck Again… we knew that Tom… But I guess someone had to say it out loud.
Market Prices 11/9/2026: American Style: A$ .6985, kiwi .5513, C$ .7041. Euro 1.1189, sterling 1.3414, sterling 1.3414, Swiss 1.2212, European Style: rand 16.4470, krone 9.4089, SEK 9.8306, forint 324,46, zloty 3.9192, koruna 21.7668, RUB 82.40, yen 157.41, sing 1.2768, HKD 74.14, INR 93.97, china 6.6715, peso 18.56, BRL 5.5048, Oil $88.17, 10-year 4.87%, Silver $52.82, Platinum $1,554.00, Palladium $1,048.00, Copper $6.33, and Gold… $4,116.
That’s it for today… I did something to my outlook text, it’s HUGE, and took me way too long to get through the Pfennig today… Tigers lost Basketball and Football games this past weekend, and the future doesn’t look bright for the Football team… I’m not on the best of health these days, and I go to the doctor on Wednesday… I hope she has some answers… The band, Los Bravos take us to the finish line today with their song: Black Is Black…. I hope you have a Marvelous Monday today, and Please Be Good To Yourself!
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