Thursday June 29, 2017
This post headline was our theme this past weekend. We expected stocks to top, bond prices to bottom, and commodity prices to bottom and begin increasing. Here is the headline story from today's WSJ.
Global government bond prices slumped for a third straight day Thursday, while the dollar fell against several developed-market currencies, as investors continued to digest messages from central banks signaling the end of easy-money policies.
Investors dumped U.S. Treasurys and European bonds Thursday morning, sending yields on many securities to their highest levels in more than a month. Meanwhile, the euro, British pound and Canadian dollar logged further gains against the U.S. dollar after rising sharply earlier this week.
The moves follow a raft of comments from some of the world’s largest central banks pointing to a reduction of the extraordinary stimulus measures that have underpinned global markets in the years after the financial crisis.
The big surprise may be just how fast this happens.
Energy prices have been up near every day since the WSJ announced last week that the energy market had entered a bear market.
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