It was a slow day for equities around the world, with little in the way of news. The Global Dow managed a 0.33% gain, which was better than US markets could muster. Coming into the close, US stocks were down over half a percent on average, with the Industrials 63 points lower. Absent any real news, the focus is once again on the Fed and Janet Yellen's comments this Friday, with the latest thinking leaning towards a rate hike next month or in October.
Bonds were almost deathly quiet, with virtually every maturity of US Treasuries unchanged. The dollar was also quiet, but a growing sense of a possible rate increase pushed it slightly higher towards the close.
Crude oil lost a buck and a half, but the big losers were the precious metals. And of those, the mining shares really got clobbered. We've been recommending caution there for months, and missed ... Log in or subscribe to continue reading.