10Y back to 2.85+
Stocks are dumb money.
They haven't yet figured out that yields will not stop rising.
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10Y back to 2.85+
Stocks are dumb money.
They haven't yet figured out that yields will not stop rising.
https://www.youtube.com/watch?v=obAoPP1bdIM
Tis Aaron Russo rising from the grave?
Never know , maybe between now & May could be the race to the top . Currently Gold @ 1325 , Dow @ 24582 , Copper 3.02 , Platinum 969 , Palladium 974 , Silver 16.58 , S & P 500 2650 , Nascrap 6969 ......
Yields back to the level that caused the original crash, I'd be selling the rip
Gold @ 1351
I guess the Dow could go back to 25K tomorrow ......
Dow needs about a 100 to get back to 25k @ 9:35 am , gold @ 1352 , copper back to near 3 1/4 yesterday evening, West Texas oil back over 60.00, Brent Crude @ 64 and one yr oil forecast still under 70 .
Stocks will eventually figure out how destructive higher (i.e. normal) rates are going to be, machines or no machines.
A certain amount of rate increase might be priced in at this point, though not enough (no one's expecting much above 3%).
In any event, while stocks take the headlines, the really important action is in the bond and forex markets anyway (and gold).
With Gold up to 1357 3/4 tonight , should I expect the usual profit taking on Fri ?
If stocks keep rallying, so will gold.
If stocks drop again, there'll be a flight to safety, into bonds, and gold will probably sit flat or drop slightly.
...i.e. some (more thoughtful) investors are starting to see it as a safety play but not yet most.
1400 is going to be a key psychological level.
Apart from the Dow and the 10Y, this should be monitored:
https://fred.stlouisfed.org/graph/fredgraph.png?g=irHm
And this
https://fred.stlouisfed.org/graph/fredgraph.png?g=irHH
And this:
https://fred.stlouisfed.org/graph/fredgraph.png?g=irHC
This one too (why, apart from the government's debt, interest rates matter so much):
https://fred.stlouisfed.org/graph/fredgraph.png?g=irJs
Dow closes below 25K .
Palladium up 2.00 to 1023.00, West Texas Light Sweet up to 61.68 , Copper pretty steady at about 3 1/4 , Brent Crude up a half dollar nearing 65 . That pushes the one yr oil forecast back to 70 which means gold might be a bargain @ 1329 .
10Y looks to be on the verge of new highs
Walmart tanked today on earnings report, I'd like to know if it had anything to do with debt service cost
Dollar crash is where its at, plus its a two-fer if the dollar crashes our debt does too right? I don't think an economy based on paper money can truly flourish without the fourth amendment. We all know that all went away after the patriot act.
We might hit 3% today on the 10Y.
High of 2.957 yesterday, back down to 2.93 at the moment
Since 2/2 (-666 day when this correction started), we're down about 4.5% in stocks and up about 4% in yields
10Y yields got close to the recent high last night, the DOW dropped 700+ today, with futures down nearly 200 more and Asian markets following.
We're only a couple hundred points off the DOW's closing low from last month.
This might be the next leg down after the last couple weeks' consolidation.
Wouldn't be surprised to see the market undercut the prior low.
Unless it gets a bump tomorrow it looks to be headed back to 23K . If it istill there end of April I would not expect much .
DOW broke the old low a few hours ago, hovering just above it now.
USD down across the board, PMs up.