The announcement came out over the weekend that the US was open to negotiating a peace with Iran, again.
And they were pumping the futures on Sunday night into Monday morning.
But alas, the rally quickly flopped and stocks sold off.
They did manage to gain a little back into the close as hope beats eternal.
There will be a precious metals futures option expiration tomorrow on the Comex.
The August contract is significant for gold, less so for silver.
VIX rose.
There will be a Federal Reserve interest rate decision on Wednesday afternoon.
The energy situation is looking increasingly dire. The manner in which it is being papered over is just going to make the ultimate impact of it on the economy all the worse.
The situation in the private credit markets is also looking very potentially kinetic, as they say.
Think of a few, over-sized dominoes falling down as they tip each other over, while smashing hundreds of smaller dominoes flat all around them.
It will not be pretty. It will be more comprehensive than the talking heads will allow.
What makes it even more vile is that it is brazenly conscious and deliberate, a part of an ongoing scam by insiders to become fabulously wealthy.
This is the legacy of the last two bubbles and the failure to correct the arc of the civic and financial morality in the US.
Across all three branches of government, this is the most ineffective and self-serving group of individuals that we have seen in power since the period after the Civil War and the Gilded Age.
Have a pleasant evening.
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