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Silver and Metals Week in Review — March 8th — March 12th, 2021
Here we are again. The close of another week filled with all manner of fun and frivolity.
While unlike the past couple weeks we didn’t have the Fed Chairman make an appearance, we definitely had some action on the Hill. In this case, we saw the Senate and the House pass the newest $1.9T Covid relief bill. On Thursday that became law when President Biden made his mark.
That frames much of our discussion. So, buckle in, pour yourself a nice glass of week ending libation, and let’s drop some knowledge bombs.
Setup
Much like last week, the lurking economic stalker is that pesky 10-Year Treasury Note interest rate.
It’s painfully obvious that we are seeing a very direct upward movement on interest rates. Closing the week at 1.64% is not something that gives anyone the warm-fuzzy embrace of good tidings — well, except for bond traders.
This is the danger that we face with huge amounts of money printing. Speaking of which, be sure to watch this over the coming weeks:
