Debt Apocalypse Now

Our currency is falling apart... and China's not responsible.

As the dollar pushes toward August highs and the Fed prepares for another rate cut in November, gold’s surge past $2,750 and silver’s 12-year peak near $34 tells a story of growing anxiety. 

With corporate earnings season ramping up, the bigger question now seems to be about the limits of fiscal recklessness versus market momentum and quarterly results.

We are coming off very strong readings for the S&P 500 and the Nasdaq, with selling starting to pick up ahead of the election. In a dead-heat scenario, markets don’t know how to go, and we should see some volatility in the next two weeks.

Insider Buying: 

• Ratio favors sellers 37:1

• Top Purchase: Red Oak Partners purchases $2 million of Global Crossing Airline (JETMF)

• Top Sell: 10% owner of nCino (NCNO) sells $67 million in shares

Market outlook:

• Stock futures dip as 10-year Treasury yield hits highest level in three months

• The dollar index has reached its strongest level since early August

• WTI Crude stabilizes near $71 on continuing Middle East t…