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Deflation Ahead?

Daily Recap

Stocks were mostly higher in the US, following mixed trading in Asia and stronger closes in Europe.  The Asia Dow rose 0.05% despite weakness in Hong Kong; the STOXX 600 gained 0.66%.

Bonds were mixed, with corporate and junk bonds higher, mortgage bonds and munis lower, and govies mixed.  The yield on 10-year notes rose to 2.403%.  The dollar index also rose, to 94.04, up 0.13%.

The precious metals staged a turnaround today; down most of the day, gold and silver rallied to close higher.  Gold was up $3 and silver up 4 cents. Platinum fell $8, though.   XAU still didn’t rally, closing down a fraction at 76.89.  Crude oil did the reverse of gold; up early, it fell sharply to close down 1.35%.

At the close, the Dow and S&P were up to new records, adding 119 and 4 points, respectively.  Stocks liked the 0.4% gain in the PPI (no deflation yet!), ... Log in or subscribe to continue reading.


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