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Richard’s Thoughts on Compounding

Daily Recap

Stocks couldn't get too excited one way or another in the US. The Dow opened a little higher, then sold off 150 points or so before coming back to the unchanged level, and then just sort of flopped around. Previously, European stocks were up, led by a 1.09% gain in the UK, caused by a weaker pound; the STOXX 600 finished up 0.23%. In Asia, all major markets were higher, no doubt at least partly because of the continuing love-fest by both Koreas. The Asia Dow gained 0.69%.

Fixed income prices steadied, with 10-year T-notes up a quarter point and 30-year bonds up 3/4 of a point; their yields stood at 2.958% and 3.127%. Renewed concern about global economic growth resulted in further flattening of the yield curve. In currencies, the weaker British pound couldn't keep the US dollar index from falling; it finished at 91.30, down 0.1%.

Precious metals were mostly ... Log in or subscribe to continue reading.

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