Hi Treasure Friends,
It is already the start of the last quarter, we hope you are having a great year. The most notable news for the markets last week was the release of the Fed’s favorite inflation indicator which rose less than expected in August; but remained still elevated at 3.9% on an annual basis.
What the Treasure Team is reading
- Economy: The inflation normalization in charts An Update on Non-Housing Services Inflation: Progress in Wage-Sensitive Prices
- Finance: Banks are now dealing less and brokering more Brokers > Dealers
- Finance: Auditors and tax accountants are moving on citing other available options at a time of an already widening shortage Job Security Isn’t Enough to Keep Many Accountants From Quitting
- Finance: A shift in potential risk CFOs See Monetary Policy — Not Labor — As Biggest Risk
- Finance: Oversupply Office Vacancy in San Francisco Reaches a Record 34%
- Tech: What goes up... Jasper, an Early Generative AI Winner, Cuts Internal Valuation as Growth Slows
- Fintech: A great report from Bain about how partnerships can be the untapped superpower for Banks Bank-FinTech Partnerships
- Fintech: The ultimate interactive map of the Fintech ecosystem The Fintech Map
From the Treasure chest...
Costco gold bars: Costco is well-known as a place to get bargain prices on any variety of items, from food to luggage to appliances to gold bars. Wait, gold bars? Yes, the retail warehousing giant is your one-stop shop for 1 ounce gold PAMP Suisse Lady Fortuna Veriscan bars, handsomely detailed and ready for purchase. They’re available for the bargain price of … well, you have to be a member to know that, but apparently they were selling for a little shy of $1,900 recently, according to chatter on Reddit. Spot gold most recently was going for $1,876.56 an ounce as of Wednesday afternoon. Regardless of the price, gold is selling like hotcakes, judging by comments Tuesday from Costco Chief Financial Officer Richard Galanti. Speaking on the company’s quarterly earnings call, Galanti said the bars are in hot demand and don’t last long when in stock. “I’ve gotten a couple of calls that people have seen online that we’ve been selling 1 ounce gold bars,” he said. “Yes, but when we load them on the site, they’re typically gone within a few hours, and we limit two per member.”
Have a great week!
The Treasure Team
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