In this video, Ira Epstein reflects on the significance of 9/11 before delving into the financial markets, highlighting new record highs in the stock market, while metals show modest gains.

Here is a look at the latest Treasury Income Statement for the month of August, published earlier today...

​​​​There was more divergence in the gold & silver markets on Thursday, a trend we’ve seen several times throughout the year. This time, the divergence left the gold futures slightly down on the day, while the silver price took another leap forward.

GBP/USD rallied over one-third of one percent on Thursday, bolstered by fresh USD weakness as investors pile into bets that the Fed will finally be pushed into a series of interest rate cuts through the rest of the year.

We rarely see U.S. and euro rates diverge as much as on Thursday, but the bullish move from the U.S. won eventually.

We discuss how an AI-driven melt-up collides with softer macro signals from PPI (falling demand, not “deflation”) and big labor-market revisions. 

The SEC has postponed decisions on crypto ETFs from BlackRock, Franklin Templeton, and Fidelity, citing the need for more time.

The S&P 500 rose by a stunning 85 bps. We see the same thing every time the VIX 1D gets elevated heading into an event.