Click Here to Subscribe Now! Try a 3-month trial for only $68 Let's Connect:    

Turning the Corner

Daily Recap

All three asset classes that we follow and recommend were down significantly today, based on a seemingly modest rise in retail sales. Fixed income traders took the 0.4% rise in "core retail sales" as a harbinger of a brisk economy with the potential for inflation ahead. So they sold bonds and notes, which sent yields higher. That, in turn, moved the dollar higher, which slammed gold and also kept equities on the ropes all day long.

 

Asian shares were solidly lower today on weakness in tech shares. The Asia Dow fell 1%, led lower by declining share prices in Hong Kong. Oddly, since the two markets are close neighbors, Shanghai shares were the only major exception, rising a healthy 0.57%. European equities were either up slightly, or down hard – depending on which index you want to consider. The Europe Dow fell 0.94%, while the STOXX 600 rose 0.05%. With small ... Log in or subscribe to continue reading.


Premium Content Notification

A subscription is necessary to access premium content.

Please use the button below to subscribe in order to access all premium articles