Good Reads
Foreign Central Banks Dumping U.S. Treasuries
There is a lot of talk about whether the Federal Reserve should raise interest rates, but in fact, the market is hiking rates with or without central bank cooperation. Treasury yields have crept relentlessly higher over the last several months, signaling significant stress in the bond market. Read on »
Bond Yields Are Nearing the Danger Zone
The trend is global: Yields on United Kingdom gilts, German Bunds, and Japanese government bonds have also been climbing, in tandem with a rise in crude-oil prices since the Iran war began in late February. But these are just the latest moves in a sustained rise in yields that has been under way since long-term interest rates bottomed at historic lows in 2020, during the worst of the Covid pandemic. Read on »
Silver Supply and Demand: A 2026 Update
For the fifth year running, the world used more silver than it produced in 2025, and the World Silver Survey 2026 expects 2026 to extend that streak to six. The report, released in April by the Silver Institute and researched by the London consultancy Metals Focus, pegs the 2025 deficit at 40.3 million ounces and forecasts a wider gap of 46.3 million ounces this year. Each shortfall draws on above-ground stocks, leaving less metal readily available even as total inventories have held up. Read on »
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