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Reluctant Bull

Daily Recap

Today was relatively calm in the equity markets.  That's rather odd, considering the President's latest bizarre acts of "diplomacy" with key foreign countries and leaders.  Trump has officially put Iran on warning, has threatened to send US troops to Mexico, and has berated and then hung up on Australia's prime minister. Decent earnings news and no prospect of an interest rate hike just yet is the balance keeping the market from swooning, I suppose; thus, we have sideways movement in most equities.  Traders are also waiting for tomorrow's report on unemployment, which could be enough to move the market one way or another.

Bonds are also mixed, with Treasuries about as quiet as one could imagine.  Every maturity of T-bill and T-note is literally unchanged today, except for the 5-year note, which is down 1/32.  Similarly, the US dollar index is in a hurry to go nowhere, losing a teeny 0.06%.  

Over in the commodities, ... Log in or subscribe to continue reading.


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