- Gold set another record high today. That makes four records in four days, putting the yellow metal on pace to become the Jerry Rice of commodities. [Reuters]
- Bank of America and PNC Financial, who in addition to being some of the nation’s most avid implementers of foreclosure moratoriums are shareholders in BlackRock, sold $8.3 billion worth of stock in the asset-management behemoth. [Bloomberg]
- Former Federal Reserve Chairman “Tall” Paul Volcker says that there really isn’t much hope for a quick reduction in America’s uncomfortably high unemployment rate. [AP]
- Fun fact about epically low interest rates: They are crippling affordable-housing projects across the country. [NYT]
- Remember when yield-chasers were piling into junk bonds like clowns into a Volkswagen Beetle? Well, now hedge funds are fleeing junk just as fast as they can, while Main Street types are buying like the dickens. Good luck, Main Street! [WSJ]
mtaylor [at] observer.com | @mbrookstaylor
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