Daylight savings time to change, finally

Good Day.... And a Wonderful Wednesday to you! Well, the National League's bats fell silent VS the American League's pitchers last night, and the American League won again... Good friend Rick came over and watched game outside with me... It's always great to have someone watch a game with me.... I don't like watching them alone! The Doobie Brothers greet me this morning with their song: South City Midnight Lady.... ( This song has special meaning to me)

Well, the dollar's brief rally was just that, as the BBDXY lost 2 index points yesterday, and ended the day at 1,218.. Most of the downward move came late in the day, and therefore I was thinking that the overnight markets would continue the selling... And they did! 

Gold/Silver held to their early morning gains and added to them as the day went on... Gold gained $50 on the day to close at $4,052, and Silver gained $79-cents to close at $58.57...  

The price of Oil continued to rise and yesterday it closed with an $83 hande... No change in the status of ships going through the Strait of Hormuz, and so that means no Oil is being sent to countries that depend on the shipments... Gasoline reserves are still falling, and it won't be long until the lines at gas stations are the norm again... 

And the 10-year Treasury's yield ended the day, yesterday at 4.60%... All the things that I've said about the bond boys and the Fed Heads hold true, so nothing has changed here...

In the overnight markets last night.... The selling and buying calmed down and we didn't see much movement in the dollar throughout the night... The rate hike callers saw that that had to take a back seat once the STIUPID CPI printed... I wish these forecasters would pick a lane... Decide which way they are going to go, and stick with it! As it is now, one week they are betting on a rate hike, and the next week it's a rate cut! 

The price of Gold is seeing the SPTs early this morning, and is down $15 to start the day, while Silver is too seeing the same kind of trading, and is down 53-cents... As long as the bets go either for a rate hike or cut, they will decide where these two metals head each day... 

The price of Oil saw some selling overnight and start today trading with a $79 handle, while the 10-year Treasury's yield stayed put at 4.61%... 

Since this is my last Pfennig for about 9 business days as I start my traditional summer vacation tomorrow... I wanted this Pfennig to be chock-ful-o-information... But the news wires are bond dry this morning, unless your looking for news on the war or the Strait of Hormuz! 

You know, just last week Oil was briefly at $69 and today is $79... What a difference a week makes, but it wasn't just a week that caused the price to jump like that... No, it was the renewed bombing and missile attacks in Iran.... Why can't these two nations negotiate a true Peace Agreement? The world needs this to happen, now!  

And The STUPID CPI? Well, the BLS showed that inflation fell to 3.5% in June VS the 4.2% in May.... And they pointed to the price of Oil or gas if you will on consumers... They wouldn't ever point the finger at their hedonic adjustments now would they? No. they wouldn't! But what's going to happen to that 3.5% when the price of Oil is repriced in the $80's? So, what I'm saying is that this is a one and done STUPID CPI report.... Don't get used to it for sure... And I don't think the Fed Heads would be stupid enough to fall for that one and done report... At least I hope they wouldn't!

Fed/Cabal/Cartel chairman, Kevin Warsh, gave a testimony on the economy yesterday, and touted how strong it was.... Wait, What? Oh, well, he can have his opinion, because everyone has one... What's that old saying? The one thing that Warsh focused on was telling the lawmakers that a "regime change" need to take place at the Fed.... That inflation was an awful tax and that his band of Fed Heads would do their best to rid Americans of this tax.... 

I'm from Missouri, and I'll have to be shown that it can be done, with the current Money Supply... Because it can't!  

The Petrol Currencies are seeing some love thrown their way... The Brazilian real has taken the leader of Petrol Currencies from the Russian ruble as Russia continues to fight in their own war.... Norwegian krone is also seeing some love, and the pound sterling is on the rally horse, even though the country is in shambles... 

Each day, I go through the currencies and look for one that stands out, and I can say that none of them stand out, but there one that keeps a foot in the door is the Chinese renminbi... Just thought you would like to know....

And this from Reuters this morning... The US House of Representatives overwhelmingly voted to pass ‌a bill making daylight saving time permanent and ending the twice-yearly practice of changing clocks that has been observed across most of the United States since the 1960s. After all this time, they finally got around to changing it... I shake my head in disbelief, but then I'm always reminded that we as a country put a man on the moon (supposedly) before we put rollers on suitcases.... Mental Giants, lawmakers are not.... I'm just saying...

The U.S. Data Cupboard will have for us today the June report of PPI (Wholesale inflation) and we should expect the same kind of rhetoric about how PPI dropped in June.... But don't fall for it!

To recap... The dollar got sold yesterday and Gold & Silver had mini-rallies... The price of Oil keeps rising and the the 10-year Treasury is still 4.60%

For What It's Worth... Well, in my attempt to fine worth FWIW articles.

Here's your snippet: " In Arizona, dead fish lie in the dry bed of a reservoir. To the north, a small Utah town could run out of water in months. And in Colorado, a rancher has sold a fifth of her herd as stock ponds stand empty.

The communities are linked by the Colorado River system, which supplies water to about 40 million people across seven Western states and Mexico and irrigates millions of acres of farmland. Decades of drought, compounded by this year's record-low winter snowpack and the hottest March on record, have deepened shortages across the basin.

The drought is pitting farmers against residents of cities and suburbs as well as industrial users including data centers, solar projects and semiconductor plants. Federal officials are considering steep cuts in water allotted from the Colorado River to Arizona, California and Nevada.

Near Casa Grande in central Arizona, farmer Nancy Caywood must pay a $21,000 annual fee to her local water district even though river water ran out in March.

Her approximately 250-acre (100-hectare) alfalfa and cotton farm relies entirely on irrigation from the San Carlos Reservoir on the Gila River, a Colorado River tributary.

In a catastrophically bad snow year, demand from farmers and towns has drained the reservoir to 1% capacity, leaving herons and pelicans to feast on bass and carp littering its parched floor.

"We have hung on for almost 30 years," said Caywood, who has leased a neighbor's fields with access to aquifer water.

"There are people approaching you saying, 'Would you like to sell your land to put solar panels on it?'"

Chuck Again... Those poor farmers... here in S.E. Missouri we've had far too much rain... C'mon Mother Nature give us a break here.... 

Market Prices 7/12/ 2026: American Style: A$ .6985, kiwi .5820, C$ .7107, euro 1.1407, sterling 1.3413, Swiss $1.2350, European Style: rand 16.5692, krone 9.7201, SEK 9.6753, forint 314.74, zloty 3.7904, koruna 21.1180, RUB 77.99, yen 162.36, sing 1.2918, HKD 7.8389, INR 96.25, China 6.7753, peso 17.45, BRL 5.0779, BBDXY 1,218, Dollar Index 100.97, Oil $79.42, 10-year 4.61%, Silver $58.25, Platinum $1,624.00, Palladium $1,314.00, Copper $6.37, and Gold... $4,040.

That's it for today and this week... I hate to leave you with nothing to read each morning for so long... When I was on the trading desk at EverBank, I had 2 and sometimes 3 backups to write in my place when I was gone... But now, it's just lonely old me with no backups... My beloved Cardinals start the 2^nd half of the season in Arizona and then Anaheim... So, hopefully they are well rested and ready to go! The Strawbs take us to the finish line today with their great rock classic song: Autumn.... I hope you have a Wonderful Wednesday today and Please, oh please Be Good To Yourself!