Europe

It has been a day of capitulation for Goldman. Just hours after the bank that controls the White House cut its forecast for Trump tax hikes by nearly 50% from $1.7 trillion to $1.0 trillion, moments ago Goldman, which starts off every single year predicting that 10Y yields will rise to 3.00% (or higher) over the next 12 months - much to our recurring mocking every single year - just cut its 10Y Treasury yield forecast for the end of the year.

Via The Daily Bell

Authored by Soren Kern via The Gatestone Institute,

As one would expect, in a week that saw the biggest one-day drop in US equities since last September, retail investors bailed on US stocks resulting in what BofA dubbed "risk-off flows" as $1.6 billion was pulled from global equities - with active managers once again getting the short end of the stick, with $4.3 billion in outflows from mutual funds, largest in 7 weeks while another $2.7 billion flowed  into ETFs - offset by $9.7 billion inflows to bonds and $0.2 billion to gold.

Gold and Silver Bullion Coins See Sales “Explosion” In UK On “Wave Of Political Turmoil”

by Jan Harvey of Reuters

In a warehouse a dozen miles to the northwest of Cardiff, the Royal Mint is running its machines through the night to keep up with demand for one of the big beneficiaries of the last year's political turmoil - gold and silver bullion.

Gold Sovereigns