Loading ...I did warn about this.
Looks like the official prop desks intend to drive stocks as high as possible before the treasury refunding begins in earnest during the third quarter.
That’s when a bid should come back into the sector – especially if the refunding does not go well.
The fact the BRICS meeting is set for July is no coincidence in my thinking – as they are undoubtedly trying to make things as difficult as possible for an overly confident Western Alliance breaking apart at an accelerating rate.
If Daddy Warbucks begins to have real fun in July – the third quarter could be fun for PMs if US rates remain high – bringing a bid back into PMs.
I’m sure that’s the BRICS plan – Treasury’s plan is a little more up in the air in my opinion.
Looks like they want to keep all the bubbles inflating right through like nothing is happening.
No problem – just hang out in Jamaica man – light one up – and nobody will notice a thing.
Chuckle