A short-and-sweet one

The dollar continues to get sold, slow and steady..

The Government shuts down...

Good Day... And a Wonderful Wednesday to you! Well, bust my buttons! The U.S. Gov't Did indeed shut down last night! Now, the question will be, for how long will they be shut down? I have the full skinny on it in the FWIW section today, so don't miss it! I was the kiss of death yesterday when I said I would be rooting for the Padres and the team from Cleveland (Wahoos) I would much rather call them that than the stupid name they changed to from the Indians... They both lost their opening games in a best of 3 series, so they need to win today to stay alive! We renewed our ROMEO lunch group yesterday... A fun time was had by all! The Doobie Brothers greet me this morning with their song: Another Park, Another Saturday...

Yesterday morning both Gold and Silver were being taken down... But for Gold that didn't last long, as it rallied back and around lunch time it got back to a positive gain on the day... Silver tried to grab onto Gold's coattails, but Silver spent the day with a negative number... Gold finished the day up $15 and closed at $3,860... Silver ended the day down 27-cents to close at $46.70  

I've seen quite a few of the Casino Banks that like to spout off about Gold, telling their clients that Gold will be $4,000 by year end.... That seems reasonable to me, but I'm looking at the dollar, because as the dollar gets sold, it is reflected in Gold gains... The dollar yesterday, continued to get sold, with the BBDXY losing 2 index points and ending the day at 1,200... The index was below 1200 at about noon time yesterday, but some buying in the afternoon kept the index from falling further... 

The price of Oil remained trading with a $62 handle yesterday, and the 10-year Treasury held Steady Eddie with a yield of 4.14%

In the overnight markets last night... More of the same dollar selling with the BBDXY starting today down 2 index points at 1,198... The currencies are beginng to look healthier with this slow but steady dollar selling. The euro is still hanging out in the 1.17 handle, as the government shutdown has the dollar reeling this morning... Gold is up $17 to start our day today, and Silver is up 46-cents... The government shutdown is going to add to the reasons to buy and own the metals... I'm just saying... 

I saw a cartoon yesterday that made me laugh out loud... it showed a broker at his desk, on the phone, and behind him is the company: Hedge Fund, Specializing in highly complex derivatives, and Exotic Financial Instruments Indiscriminating Investors... And the broker on the phone says... But Gold!  

The price of Oil is getting sold because of the government shutdown... OPEC+ is to discuss fast tracking its latest round of supply hikes in three monthly installments of about 500,000 barrels a day to recoup market share. This news and the government shutdown has the price of oil down to a $61 handle this morning... And the Fed/ Cabal/ Cartel must be in the bond market, managing the yields lower this morning, as the 10-year's yield has fallen to 4.11%

The government shutdown is causing many problems with reports on everything from Oil to housing to be missing this morning... We did get the ADP Employment report already this morning and it showed that the economy LOST 32,000 jobs in September! That's right, I said Lost 32,000 jobs in Sept... This has got to send the dollar to woodshed today, as the ADP report is a harbinger for what the BLS will have in store for us on Friday... That is if they actually report what the surveys tell them and not add their hedonic adjustments... 

I overslept this morning, not hearing the alarm... I was really snoozing! But that's OK, because this way I'm writing while the ADP Employment Report gets printed... Better late than never, right?  

All the newswires this morning are all about the government shutdown, that I'm still at the roadside waiting for the next bus, and wondering what the end game is for the lawmakers... I think that they want to show the other side of the aisle who's the boss, and who's got the con... And that's a bad thing for the U.S. economy...

So, I'll just wrap this up with bow and send it out this morning... Nothing but government shutdown stuff to write about, is boring to me... and probably to you too! So, just put this down to a short-and-sweet Pfennig this morning... 

The U.S. Data Cupboard today had the ADP Employment Report for Sept... This will be looked at closed for any signs of layoffs.... We'll also see the ISM (manufacturing index) for Sept, and I'm sure it will remain below the 50 mark... So, there's that...  \

Yesterday's Data Cupboard had the Case/ Shiller Home Price Index for July... I know, I know it's very stale data, but it's what we get... Home prices across the top 20 cities in the U.S. fell by 0.07% MoM, the fifth straight monthly drop in prices. The higher mortgage rates that I talked about yesterday are in play here... 

Don't forget that this Friday will the Jobs Jamboree, with the Gov't shutting down and laying off employees it just happened last night, so it won't be a part of the BLS's labor report for Sept... 

To Recap... Both Gold & Silver started Tuesday seeing short selling, and losses in the morning... Gold turned its loss around into a $15 gain, but Silver couldn't get its head above water and ended the day with a loss... The U.S. Gov't shutdown last night, and if this goes too long, it will affect the dollar, and the employment rolls...  

For What It's Worth... I pre billed this above... But just friendly neighborhood spider man: reminder that this is the skinny on the Gov't Shutdown and it can be found here: U.S. government shuts down as Trump and Congress fail to reach a funding deal

Or, here's your snippet: "WASHINGTON — The U.S. government officially shut down at midnight after Congress and the White House failed to reach an agreement on how to extend federal funding.

President Donald Trump’s Republican Party controls both chambers of Congress, but it needs Democratic support to pass a bill in the Senate, where 60 votes are required. And the two parties failed to craft a bipartisan bill, with the Senate rejecting both a GOP proposal and a Democratic proposal just hours before the shutdown deadline.

It’s the first government shutdown since 2018, in Trump’s first term, which was the longest ever at 34 days, lasting into early 2019. There is no clear path to a resolution, with the two sides fundamentally at odds over how to resolve the impasse.

Federal employees will go without pay for the duration of a shutdown, while members of Congress and Trump will still receive their salaries. About 750,000 employees will be furloughed each day, the Congressional Budget Office said, while others who work essential jobs, like Transportation Security Administration agents, air traffic controllers, federal law enforcement officers and members of the military, will be forced to work without pay.

Under federal law, they are all scheduled to receive back pay once the government reopens, even for the time some didn’t work. Compensation for furloughed workers will cost taxpayers $400 million, according to the CBO."

Chuck again... I have a bone to pick with the lawmakers.. Why on earth would they continue receiving their pay, while the Gov't is shutdown... Who caused the shutdown? They DID! I serious here, reading that really ticked me off!

Market Prices 10/1/2025: American Style: A$.6624, kiwi .5827, C$ .7180, euro 1.1754, sterling 1.3518, Swiss $1.2543, European Style: rand 17.1619, krone 9.9250, SEK 9.3517, forint 330.91, zloty 3.6219, koruna 20.6495, RUB 81.27, yen 146.82, sing 1.2870, HKD 7.7818, INR 88.69, China 7.1214, peso 18.27, BRL 5.3041, BBDXY 1,198, Dollar Index 97.54, Oil $61.93, 10-year 4.11%, Silver $47.16, Platinum $1.576.00, Palladium $1,266.00, Copper $4.85, and Gold... $3,867

That's it for today... Welcome to Rocktober... Any time I refer to the 10th month of the year, I call it Rocktober!  And all month long I'll have to look at the red wavy line under Rocktober, because spell check doesn't like it! Day 3 all by myself was good, no worries, no problems... I heard from Kathy yesterday evening, she was playing musical bingo with her friends... Sounded like she was having fun... probably not as much fun as I had with my pals yesterday! But maybe...you never know! I'm awaiting a delivery this morning, and it's got me a bit excited to get it... The Moody Blues take us to the finish line today with their song; Nights In White Satin  I hope you have a Wonderful Wednesday today, and Please Be Good To Yourself!