Interesting Gold market technicial presentation:  Gold bullion glitters brightly - Posted by Prieur du Plessis - ... he shorter-term technical picture is also starting to look interesting. This is explained by Adam Hewison of INO.com who prepared a short technical analysis of gold’s most likely direction and key chart levels. (The analysis was done on Wednesday with the gold price at $935, but is still as relevant as it was two days ago.) ... -  Investment Postcards from Cape Town ------------ Chart of the Day - ... As a result of the current plunge in earnings and the recent 2.5 month stock market rally, the PE ratio has spiked to the low 120s – a record high. ... - Chart of the Day ------------ Kondratieff Wave Chart - Zero Hedge ------------ 1.  There's Hope In Bond Markets - Matthew Craft - The economy has its problems, but credit is again flowing to top-grade corporations. - High-grade bonds climbed 3.6% in May and are up 11% in the past six months. With the typical bond yielding 6.8%, companies find they can finance debt at reasonable rates, says John Hawley ... Spreads still look high, Hawley says. But they serve as an incentive for investors to drop Treasury bonds for corporate credit. ... -  Forbes 2.  Cash Is King When Treasuries Are Bubbly - The Fed has been so successful in pushing down long-term bond yields that natural buyers no longer find Treasuries attractive. - Mark Sunshine - Forbes ------------ Treasury yields will continue to rise - Scott Grannis - Calafia Beach Pundit ------------ 1.  The next asset classes to default - Felix Salmon -  I had an interesting lunch with Vipal Monga of The Deal this afternoon, and he came out with a rather startling datapoint: apparently there’s roughly $500 billion of leveraged loans out there which mature between 2012 and 2014. Is there any conceivable way those loans will be able to be refinanced? - Reuters 2.  Freddie eyes $1 billion commercial mortgage bond: source - Reuters