Kim Jong-Un apparently doesn't like being pushed off the front page by the latest Russian scandal news or natural disasters, and so we got another surprise missile launch yesterday. Surprise, surprise - the precious metals and bonds liked the news, while stocks - not so much. Gold popped another $18 or so to the upside, and stock indices headed the other way; the Asia Dow fell by 0.38% and Europe's STOXX 600 dropped just over 1%.
Bonds liked the chaos, and governments scooted up across the board. The 10-year note's yield fell to where it was at the June lows (2.13%); could a new leg up in bonds be in the cards? The dollar got beat up some more, but is so oversold that one wonders if it might not rally soon as well. Crude oil was about unchanged, after getting beat up over issues from Hurricane Harvey. The dollar, down early in ... Log in or subscribe to continue reading.