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Another Insurrection: Now What?

Daily Recap

The post-election shocks continue, though of a type that virtually nobody (certainly not we) anticipated.  Stocks continue on a bender, a Trump high if you will, in the US.  Asian markets had finished higher, while European shares were mixed.  But in the US, we have new intraday highs in the Dow Industrials, which will give us a Dow Theory confirmation for a bull market.  This is a radical change over just a few days, but we don't determine what the Averages do; we merely report and interpret.  

Bond prices, however, fell sharply, strengthening the case for an end to the bull market there - at least in the intermediate term.  Yields jumped to 2.133% on the 10-year Treasury.  Meanwhile, the US dollar index rose again, to 98.85.  Oil prices fell, finishing at $44.50/bbl.

Precious metals were mixed again, with gold falling $22/oz. as the flight to safety reversed.  Silver rose 5 cents, ... Log in or subscribe to continue reading.


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