Stocks and Bondage: The Market Is A Cruel Mistress

Our forecast for higher rates on the 10-year has been delayed by politicians arguing about the size og the next covid-19 package.
The expected $1 trillion+ in additional treasury issuance won't happen in what remains of August, at earliest sometime in the first couple weeks of September.

So, despite following the script from August 6's .5040% low yield to August 13's .7270%, the 10-year is back to this morning's .6490% yield.

This also means that commodities that have anti-correlations with rates, especially metals will be trading on fear-n-greed for a while longer before the master plan for world domination facilitated by the short-copper-it's-oversupplied thesis kicks in.

As we have done in previous times of trouble we turn to the words of News Radio's Mr. Jimmy James on fortitude and the travails of running a brokerage house (also the hazards of translating a translation):

Mr. James:
"The original title of this book was 'Jimmy James, Capitalist Lion Tamer' but I see now that it's... 'Jimmy James, Macho Business Donkey Wrestler'... you know what it is... I had the book translated into Japanese then back in again into English. Macho Business Donkey Wrestler... well there you go... it's got kind of a ring to it don't it?

Anyway, I wanted to read from chapter three... which is the story of my first rise to financial prominence...

I had a small house of brokerage on Wall Street... many days no business come to my hut... my hut... but Jimmy has fear? A thousand times no. I never doubted myself for a minute for I knew that my monkey strong bowels were girded with strength like the loins of a dragon ribboned with fat and the opulence of buffalo... dung.

...Glorious sunset of my heart was fading. Soon the super karate monkey death car would park in my space. But Jimmy has fancy plans... and pants to match. The monkey clown horrible karate round and yummy like cute small baby chick would beat the donkey."

-Episode #57 "Super Karate Monkey Death Car"
By way of EvilZero.com

Well there you go. Pretty much says it all.

And our headline?

Jimmy: Be careful, Beth, because the stock market can be a cruel mistress.

Beth: Well, so can I, but that's not how I want to make my money any more.