Mostly - more of the same today. Share prices were modestly lower in Asia, despite a 1.1% decline in the NIKKEI 225. European shares closed almost exactly where they had yesterday. In the US, shares were modestly lower in the morning, but rallied persistently to close up on the day, near their highs, and at new all-time highs. SOS in the US! The source of continued buying? Optimism about Trump's tax plan, to be announced in a week or three, and fear of missing the boat.
Bond prices fell, pushed in that direction by testimony by Fed Chair Janet Yellen, who intimates that interest rate hikes may come soon, in light of the stock market's action and the President's plans. The 10-year T-Note yield rose to 2.467%. The US dollar benefited from higher interest rate talk, however -- up a quarter point to 101.23, its highest in a month or so. Crude ... Log in or subscribe to continue reading.