Treasury Borrowing Forecast: $618 Billion, $24 Billion Catch

A $125 billion Treasury refunding is not $125 billion in new borrowing. The November 4 plan replaces about $97 billion of maturing debt, while the separate quarter-wide forecast calls for $618 billion in net borrowing. The starting cash balance explains the apparent contradiction.
Gold Tops $4,000, Silver Jumps as Democrats Sweep the Midterms

Gold reclaimed $4,000 and silver jumped past $50 after Democrats swept the 2026 midterms. Stocks popped too, then gave it back. Gold and silver didn’t.
