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Richard's Thoughts: A Bubble is a Bubble, & Sooner or Later Every Bubble Bursts

Daily Recap

Foreign markets sold off today, following US concerns over passage of the big tax bill, which caused US shares to sell off late yesterday. But then the worm turned once again, the bill's passage now seeming just around the corner. Bottom line: the Asia Dow slipped 0.40% and the STOXX 600 dropped 0.19%. American markets, including those in the US, soared however. Trump's promised Christmas present may well arrive in time, its gigantic benefits for ALL Americans being accurate or not.

Bond prices were mixed, with gains on the long end, but mostly losses in short and intermediate-term maturities. The yield on the 10-year US note was about unchanged at 2.35%. The US dollar index rose again, aided by Brexit-related concerns for the British pound. The dollar finished up 0.31% at 93.93.

Precious metals and crude oil had a good day. Oil gained 0.44% to close at $57.29. Gold rose $3 ... Log in or subscribe to continue reading.


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