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A lot of bonds funds and ETF’s are now slowly trending down.

Take a look at the LQD corporate bond ETF.

LQD fell 1.02% yesterday to make a new low for the month.

Ever since the Federal Reserve lowered interest rates in September, LQD has slowly trended down.

Long-term Treasury bond yields have actually gone up since that rate cut and ETF’s like TLT have fallen as a result too.

This is an unusual thing that I want to draw attention to you, because I doubt you are hearing anyone talk about it. One thing that it means is that even though the Federal Reserve lowered interest rates in September mortgage rates and credit card interest rates have NOT gone down for people. No one cares, of course, about any of this as long as the stock market is ok.

I am not making big conclusions about anything before the election, but if LQD and TLT continue to trend down into the end of the year, with more rate cuts happening, that would be a bad sign for the US bond market, because it is something we have never seen happen before.

The next Federal Reserve meeting is the day after the Presidential election.

Maybe these bond funds will pivot back up after that meeting and go back up towards the end of the year.

I want to see what happens.

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And…..

Silver went up again yesterday, as you can see from the SLV ETF.

Silver was below $26 in April when this ETF was below $23.50.

I was doing Youtube video after Youtube video, in March, telling people to buy gold and silver before it went through $26.00.

Once it did that the great entry point was gone and I stopped doing Youtube videos, because I am not a Bitcoin guru who tells people to just chase something, but I look for good entry points.

-Mike

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