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Bonds Warning?

Daily Recap

US stocks rallied today, sort of, ignoring what everyone claims was a major escalation by N. Korea yesterday. The "sort of" is because despite higher numbers in the major US stock indices during the day, advance/decline ratios were decidedly negative for both the NYSE and the NASDAQ.

 

Overseas equity markets were mixed, but mostly higher. The Asia Dow rose 0.50% and the STOXX 600 gained 0.18%. Apparently, war with N. Korea is still not a realistic option, despite the saber rattling – or at least, so believe the markets.

 

Bonds and gold bounced up today, while crude oil bounced down, hard. The yield on the US 10-year Treasury fell to 2.33% as the notes rose 5/32. Crude oil fell the most in several weeks, losing 4 1/2% to finish at $44.98/bbl. on Russia's notice that it will not play nice with OPEC in terms of future production cuts.

 

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