Business

Launching this week's Treasury issuance of 3, 10 and 30Y paper, this afternoon's 3-year note auction results was "stellar", as Stone McCarthy put it.

The auction stopped 0.9 bps through the 1.529% When Issued, printing at 1.520% - the third consecutive "stopping through" auction in a row - with the highest bid/cover in more than a year and a half, as 3.13 bids tendered for every dollar, the highest since December 2015, far above the 2.80 6 month average. There were $75.1BN bids for $24BN in notes sold (ex-SOMA).

Authored by Jeffrey Snyder via Alhambra Investment Partners,

The mainstream media is about to be presented with another (small) gift. In its quest to discredit populism, the condition of inflation has become paramount for largely the right reasons (accidents do happen). In the context of the macro economy of 2017, inflation isn’t really about consumer prices except as a broad gauge of hidden monetary conditions.

Silver Mining Production Plummets 27% At Top Four Silver Miners

by SRSRocco Report

In an interesting change of events, production at four of the top primary silver miners plummeted during the second quarter of 2017.

Authored by Lance Roberts via RealInvestmentAdvice.com,

Over the last week, I was on vacation with my family taking a much-needed respite from the weekly workload.

DoubleLine Capital’s Jeff Gundlach has become one of the most visible critics of market complacency, revealing his purchase buy five- and eight-month S&P 500 put options. Now, the legendary bond investor is touting his bet on a spike in equity market volatility as one of his “highest conviction” trades, according to an interview with Bloomberg.

"Volatility is about to go up," he said. "That’s my highest-conviction trade right now."