An emergency rate hike would have to be 50 BPS IMHO. That would surely wreck the SM.
Maddog made a good point “Though i note rates never eased a bit despite the very weak SM…..that is a real problem for the scum.”
Rates were definitely not supporting the SM or a flight to safety. The bond market has already raised interest rates for the Fed but what happens when rates keep going higher and they can’t stop them? We are already in the beginning of a recession and this one is going to take a long time to get out of.
Nevertheless, the scum isn’t letting go of the pm prices as a viable option for a flight to safety. Silver struggling again this am. Gold doesn’t want to go down so the scum does the next best thing – smashing the shares.