Business

Gold Up 9% YTD - 4th Higher Weekly Close and Breaks Resistance At $1,250/oz

In the immortal words of Chuck Schumer: "Get back to work Mr. President..."

From the S&P to Switzerland, and from China to The CAC - global equity markets are in the red this morning, just a day after Treasury Secretary Mnuchin told the world that Trump's presidency was a 'mark to market' administration.

Europe extends yesterday's weakness...

Still a long way to go yet...

Are US banks about to play catch down?

Who's right? Bonds or Utility Stocks?

The near-record string of 10 consecutive Dow Industrials record highs, a streak not seen since early 1987, may be about to end if futures, which are currently trading -0.3% lower, fail to stage a rebound.

By Mark Cudmore, a former FX trader who writes for Bloomberg

Mnuchin’s Dose of Reality Yet to Bite

Steven Mnuchin’s dose of reality for investors in relation to the fiscal stimulus has triggered a disinflationary theme to markets that will impact many assets classes.

Yesterday, I wrote that Trump’s speech to congress on Tuesday may mark a capitulation point for reflation trades. It appears that Mnuchin has tried to pre-empt him.

Submitted by Daniel Mitchell via The Foundation for Economic Education,

Early last month, in a column on my hopes and fears for 2017, I fretted about fiscal chaos in Italy leading to default and bailouts.

Simply stated, I fear that Italy, along with certain other “Club Med” nations, has passed the point of no return in terms of big government, demographic decline, and societal dependency.

And this means that, sooner or later, the proverbial wheels are going to fall off the bus. And it might be sooner.