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Fed, Markets Align

Daily Recap

The Bank of Japan started the day off with a bang by not increasing its monetary policy supports further.  This surprise sent the dollar down another 3% vs. the yen, its largest drop in 7 years. Asian stocks generally traded lower on this news, though it didn't seem to bother European markets; British and German stocks both finished slightly higher.

Interest rates headed lower again in the US, while most stocks headed much lower. The exceptions? The gold and silver mining shares, which jumped sharply based on big increases in the underlying metals prices. Gold and platinum were both up more than $20, with silver up 40 cents -- very healthy gains that seem to confirm our bull market expectations. Why did I only buy a little platinum yesterday?

But back to US stocks, which did not at all have a good day. The Dow was down over 200 points, with the other key ... Log in or subscribe to continue reading.


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