Monday saw a good deal of déjà vu, as markets started higher and then were hijacked by the ramifications of yet-again new lows in energy prices. European shares got hit first, ending down over 1% overall.
Surprising election news out of Spain sent that market tumbling, with inevitable negative consequences for the rest of Europe, as that country joins Greece in the anti-austerity club.
US equities, in light pre-holiday trading, were able to hang on to most of their early gains, with the Big Three (Dow, S&P, NASDAQ) up about 1/2% each. Gold and silver were strong throughout the day, perhaps a result of tax trades as anything else. Mining shares finished higher, but well off their highs, a topic to be covered in some detail tomorrow.
Digging Through the Junk
By Matthew Kerkhoff
It’s no secret that junk bonds have tumbled this year, adding to the list of worries on investors’ minds. But why are investors ... Log in or subscribe to continue reading.