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Secular Shift in Interest Rates?

Daily Recap

The big action today occurred in the dollar, which fell to a one-month low after Trump specifically called it out as being "too strong." Weakness in the dollar here is a good sign considering its incredible run over the last few months.


Equity markets in the U.S. trended modestly lower with the Industrials giving back 59 points and the Transportation Index falling 1.1%. The S&P 500 and Nasdaq Composite were 0.3% and 0.6% lower, respectively.


Markets in Europe were mostly in the red as well, with the STOXX 600 falling 0.15%. Italy's FTSE was the one winner, up 0.25%. In the Asia-Pacific, declines in Australia, India and Japan were offset by gains in China and Hong Kong. Overall, the Asia Dow was up 0.33%


Bonds continued to correct higher, with the yield on the 10-year Treasury falling to 2.32%. The 30-year bond currently sits at 2.93%.


Gold also extended its recent gains, adding $17/ounce to close at ... Log in or subscribe to continue reading.

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