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My Mentor, Hyman Minsky

Daily Recap

Today saw a little more Wild West action. The Asia Dow was up 0.25%, despite every major Asian market closing lower! The Europe Dow was also up, 0.6% higher, even though Germany, France, and the UK saw losses in their stocks. In the US, the Dow started off lower, then was up over 150 points, sold off 100 points from there, and then started back up. Bonds took a hit this morning, then rallied sharply. Gold and silver? Up smartly in the AM, down hard in the PM. Kind of like that...

So volatility has returned to the markets, for awhile anyway, prompting a Merrill Lynch analyst's comment that "This is beginning to look a little bit too frothy for our liking." Part of the confusion may be due to Treasury Secretary Mnuchin's seemingly contradictory statements on the future trend for the dollar. But at the end of the day, here's ... Log in or subscribe to continue reading.


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