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Are We Just Wrong?

Daily Recap

The Bank of England opted to stand pat on rates for now.  But investors still expect future easing, and see the Bank's inaction as a sign that Brexit won't require extraordinary assistance and the UK will be fine after all.

In the US, more reports of a strong economy helped stocks, but hurt bonds and gold.  Bond yields rose to 3-week highs, yet the dollar traded lower overall.

Crude oil was up almost a buck a barrel, but that didn't help the precious metals.  Near the closing bell, gold was down $11, silver off a dime, though platinum was holding onto small gains for the session.

Mining shares, half "stock" and half "precious metals" were unchanged on a day that saw US shares score new all-time highs once again.  The Dow is up more than 100 points, adding to what people are starting to label an "equities bubble."



Are We Just Wrong?

By Benjamin J. ... Log in or subscribe to continue reading.

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