Asia

The USDJPY and 10Y yields snapped lower and gold kneejerked higher following the latest North Korea-related headline out of Bloomberg, according to which:

• NKOREA STARTS MOVING ICBM FOR POSSIBLE LAUNCH BEFORE SAT.:DAILY

Bloomberg references a just released article in the Asia Business Daily, according to which North Korea started moving the ICBM-class missile, produced at a new Pyongyang research center, on Monday following Sunday's thermonuclear test.

While stocks have been limping higher since around 2am ET (following headlines on an imminent ICBM launch) they remain lower from Friday's close:

But precious metals the biggest gainers of post-North Korean "hydrogen bomb" testing safe haven flows.

Silver broke above resistance at early June highs to test $18 and the highest levels since April 25th.

But that was clearly not acceptable to someone:

Having started off with a sharp gap lower following Sunday's news of the latest, 6th nuclear test by North Korea, global stocks and US futures pared losses in the overnight session, despite reports of North Korean preparations for yet another missile launch, while the yen trimmed its risk-off gains even as gold kept its upside and the South Korean Kospi closing 1.2% lower, with traders asking whether "this time will be different:, or inversely, will today's market reaction will be a carbon copy of what happened last Monday, when stocks gapped sharply lower on North Korea mi

After President Trump condemned North Korea's "hostile and dangerous" actions this morning, hours after the rogue state's 6th nuclear test, and according to the Kim regime first test of a hydrogen bomb, the press wanted to know one thing: will the US attack North Korea? "We'll see," Trump responded, leaving church when a press pooler shouted a question about if he plans to attack North Korea.

Authored by James George Jatras via The Strategic Culture Foundation,

They say that most of the world’s real dangers arise not because of what people don’t know but because of what they do 'know' that just ain’t so.

As a case in point, consider three things about Korea that the bipartisan Washington establishment seems quite sure of but are far removed from reality:

Delusion 1: All options, including U.S. military force, are «on the table.»