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Silver rallied +34.0% during July, pushing it straight to the top of Deutsche Bank's YTD leaderboard with a +36.6% advance.

If the Atlanta Fed is correct, the annualized Q3 GDP print would be the highest on record.

Of course, since Wall Street does not make fees on investors holding cash, maybe there is another reason they are so adamant that you remain invested all the time...

The only thing that stops a bad guy with a gun...

"The unprecedented impact of Covid-19 requires us to further adapt and evolve."

Few appear willing to follow the probabilities of a future in which a vaccine cannot possibly be the "magic cure" everyone wants...

Trade deal or trade bust? 

As options trading gains popularity via low or zero-commission trading, the effects of this feedback loop are gaining in importance... The feedback loop in a market sell-off is proven to be more pronounced...

The sharp dollar reversal has triggered a furious bout of short covering in Dollar futures, which according to the latest CFTC data has printed the most short in 9 years.

The key economic data releases this week are the ISM manufacturing index on Monday, the ISM non-manufacturing index on Wednesday, and the employment report on Friday.

"Three months to go until the U.S. Presidential election! Surely Congress will want to get something over the line regarding new stimulus in the U.S. driven more by politics than necessarily economics"

...replacing the invisible hand of markets with the dead hand of state control is one route to disaster...

"The first six months of 2020 have been some of the most challenging in living memory."

"Congress would grant the Federal Reserve an additional tool for providing support. The Fed would then activate the securities and deposit the funds digitally in households’ apps."

The only winners here are the HFTs...

"For the first time in more than 20 years, the global newbuilding pipeline fell below the 10% threshold."

"F*ck around, find out, landlords" 

"Casinos are staring at heavy losses for the second quarter, with not much hope for a near-term recovery..." 

" They’re all corrupt..."

"If you are a pension fund or an insurance company, you are forced to go down in quality and take extreme risk."