"If the world hates you, remember that it hated me first. If you belonged to the world, it would love you as its own. But you do not belong to the world, as I have chosen you from it."
John 15:18
Suffering is a means by which God saves us, afflicting us so we do not lapse into vain self-sufficiency, a pride and a perverse individualism that gathers us blindly into ourselves, and separates us from His own. To suffer is how we grow in humility, and conform ourselves to do what He commands, rather than as we may will.
Prayer is how we sustain ourselves in times of both suffering and joy, with humility in this life, as we resort not only to ourselves or to the world, but to all things with God.
And so we find comfort in His will, and the conversations that we keep with His many tender mercies. The world can not see this, and in not seeing does not understand. To the world we are fools.
His consolations and comforts are hidden, delivered to us in quiet moments, heart to heart. And so He gathers us together to Himself, and keeps us safe, and slowly takes us from this world and the dark powers therein, that search endlessly for souls to make their own, and to devour.
Stocks and the precious metals slumped today as yields on US Treasuries climbed. The ten year Treasury yield finished at the highest level since 2011.
This in turn greatly strengthened the US Dollar. Bloomberg characterized this as a 'risk off' reaction to something or other that was not clear. North Korea or Jerusalem? The VIX took a leg higher.
The retail sales number was rather weak, which would not support higher interest rates per se. Although there was an upward revision last month, and Empire Manufacturing did come in a big stronger. All in all a zzzzzz.
The SP 500 yield has fallen below the 3 month Treasury yield. And this is just the market to buy stocks for clipping coupons, right? lol.
Perhaps the market has decided that the Fed will be raising rates no matter what the productive economy is doing, which is not all that bad of a bet. Unless there is an economic cataclysm. The Fed seems to be self-absorbed and self-referential to a remarkable degree, having painted themselves into a corner with few places left to hide.
I suspect that gold was in an over-reaction Many punters have noticed gold's tendency to bottom off the NFP-FOMC combination, and probably placed too many weak bets ahead of the curve. Well, that is one possibility at least.
Or maybe the masters of the universe were just having a day. Anything is possible when bullshit reigns.
I just checked and there it is, a stock option expiry this week. The calendar included below. Mary is not normally that big of a month for stock options as I recall.
"On Wall Street he and a few others - how many? - three hundred, four hundred, five hundred? - had become precisely that— Masters of the Universe. There was no limit whatsoever! Bullshit reigns."Bullshit and faithlessness reign in our amoral wilderness. And you-know-who is the King of the May.
Tom Wolfe, Bonfire of the Vanities
Have a pleasant evening.
