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The Key to Predicting Inflation

Daily Recap

In a shocking departure from price action over the last few months, most major averages actually went down, though not by much. U.S. stocks started off the week in the red, led by financial shares which declined 0.56%.


At the close, the Industrials were down 51 points, the Nasdaq declined 0.37% and the S&P 500 fell 0.33%. Europe shared a similar fate, with the STOXX 600 down 0.52%. However, most of Asia was able to buck the trend of lower prices, with the Asia Dow rising 0.85%.


The selloff in stocks did not preclude a selloff in bonds, with most maturities falling in price. The yield on the 10-year note rose to 2.49%. Amidst all the selling in equity and fixed income markets, the dollar managed to rise, its index climbing 0.11%.


In precious metals markets gold and silver were both little changed (gold rose a buck, silver rose 3 cents), but platinum managed to ... Log in or subscribe to continue reading.

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