The focus is back on the Fed today, with Yellen sounding a little more dovish than what we heard last week. It's almost humorous, how everyone tries to parse the future of interest rates from the slightest change in language from those in power. Today Yellen confirmed that rates will rise more this year, but in terms that acknowledged weakness around the world, and even in the US. Bonds naturally rose on the news, and the dollar fell at the prospect of relatively lower US interest rates.
Stocks followed bonds higher, also after trading lower in the morning. The precious metals, which were up all day in the US, soared. Approaching the NY markets' closing, the Dow is up half a percent. The tech-heavy NASDAQ got an extra boost from that sector, and is up three times as much: 1.5% higher. Gold is up $20/oz and the mining shares are up ... Log in or subscribe to continue reading.