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Will The Last Country To Use Dollars, Turn Out The Lights?

Daily Recap

Unlike other recent trading sessions, stocks were unable to sustain the recovery from their early morning sell-off, and finished lower pretty much across the board.  Things were more mixed up overseas: The Asia Dow lost 0.89%, while Europe's STOXX 600 gained 0.24%.  Three of the Americas' largest markets (except the US) were higher, with only Brazilian shares losing ground - down 0.64%.

A big focus was still the Fed's future actions.  With more evidence of a rate hike in December, and the likelihood of perhaps three more hikes next year - not to mention the Fed's upcoming sales of many billions of dollars worth of bonds, traders and investors alike are more cautious.  For the US dollar, that is mostly a plus, although it pulled back some today; the dollar index finished at 92.24, down 0.39%.

For bonds, it meant yet another day of (slightly) lower prices and higher yields.  The 10-year ... Log in or subscribe to continue reading.


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