Hi Treasure Friends,
We hope you are well. The big news last week was the very resilient job market with 199,000 jobs added last month and the unemployment rate falling back down to 3.7%.
What the Treasure Team is reading
- Economy: Despite last month strong job number US job openings hit more than 2-1/2-year low as labor market cools
- Economy: Are economic data that bad? Vibes vs. data
- Finance: A wave of corporate defaults was anticipated this year — but didn’t happen Companies Are Going Broke Gradually, Not Suddenly
- Finance: With high interest rates Private credit to see best opportunities since '08 crisis in coming years
- Finance: Can the U.S. Government act like a company when it issues bond? Treasury’s ‘Blunder’ Was No Mistake At All, Former Official Says
- Fintech: As we look into next year BMO Optimistic About Fintech Stocks in 2024; Here Are 3 Top Picks to Keep an Eye On
- Fintech: Fintech keeps attracting inflows Fintech-focused Canapi Ventures raises $750M
From the Treasure chest...
The $2 million mine which might be worth $37 billion: A former Wall Street banker who dished out $2 million for an old coal mine in rural Wyoming has possibly hit a $37 billion mother lode after the discovery of “rare-earth elements” at the site, according to a report. Randall Atkins, the son of infamous oil tycoon Orin Atkins, bought the sleepy Brook Mine outside of Sheridan, Wyo., sight unseen, 12 years ago. However, recent tests conducted by government researchers revealed that the 15,800-acre mineral reserve contains what might be the largest unconventional rare-earth deposit in the country, according to The Wall Street Journal. Rare-earth minerals — such as gallium and germanium — are vital in the production of superconductors, and are also needed to power electric vehicles and offshore wind turbines. When Atkins’ company Ramaco Resources first purchased the mine, the 71-year-old “didn’t know the difference between rare earths and rare coins,” he told the outlet.
📥 Interested in receiving our curated headlines directly to your inbox every Monday? Don't miss out – subscribe to our newsletter: http://bit.ly/treasure-newsletter
