Richard’s Thoughts on Values vs. Market Direction
Stocks soared again today because ... because ... well, just because they wanted to. The US got a very negative jobs report, and investors are worried about how all the discord surrounding the Trump administration will affect its ability to make the promised changes Wall Street so very much wants. But never mind: Stocks want to keep going up, and so they do.
Asian markets were green across the board, perhaps as they anticipate new opportunities associated with the US's withdrawal from a leadership position. The Asia Dow gained a very healthy 1.37%, led by the NIKKEI, up 1.60%. Europe was less enthusiastic, but still the STOXX 600 added 0.23%, with every major bourse except Italy's moving up. American markets were mixed, apart from the US.
Bonds and gold also moved higher, quite unusual considering the strong stock market. Bonds traded near their post-election highs, with the 10-year note's yield falling to ... Log in or subscribe to continue reading.
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