⛏ The Long Bond Just Hit Pre-2008 Financial Crisis Levels

The Long Bond Just Hit Pre-2008 Financial Crisis Levels
This week, the U.S. Treasury auctioned $25 billion of 30-year bonds at a yield of 5.046%. That number doesn’t sound like much. Until you realize it’s the first time a 30-year auction has cleared above 5% since 2007. Read on »

The Greatest Financial Market Bubble In History Is Forming A Top
On April 24, the Semiconductor Index (SOX) closed higher for the 18th consecutive session. That’s the longest daily winning streak in the 32-year history of the index. The move eclipsed a 15-day run in 2014. But that move only produced a 7.8% gain. During the April rally, the SOX rose 47%. The move was led by Intel (INTC), which has gone up 129% in the last six weeks. Forgive the math, but I need to quantify these extraordinary moves. Read on »

U.S. drill bit makers ramp up shift to steel as tungsten prices surge
North American producers are expected to ‌ramp up drilling as disruptions to Middle Eastern oil supplies keep crude above $100 a barrel. But higher ‌drill bit and equipment costs are raising the price of new wells, potentially slowing output growth at a time when global markets are counting ​on more U.S. supply. Read on »