Daily Content
Fleck's Thoughts
IndexClose% Change
Dow Transports14554.060.76
Dow Utilities1022.580.22
S&P 5004121.320.31
Nasdaq 10012599.630.41
Russel 20001887.980.26
VIX Index25.020.93
10 Year Gov't Yield3.043.54
Spot Gold1842.2-0.49
Spot Silver22.090.73
GDX-Gold Miners32.22-1.04
Crude Oil118.32-0.46
Dollar Index102.390.25
Euro Spot1.07-0.22
Japanese 10 Year0.24-3.98
Shanghai SE3236.371.28
Long Bond 20-year136.56-1.13

Bonds, Again


The bulls tried to get a party started as they had the Nasdaq almost 2% higher and the S&P up 1% shortly after the open, but the undertow in the bond market essentially erased the rally by midday, with the indices just barely hanging on in positive territory. In the afternoon, the market traded sideways to higher, finishing with the small gains that you see in the box scores.

Away from stocks, as noted, fixed income was heavy, with rates probing the recent highs. Green paper was helped at the margin by that while the metals were not. Silver was over 2% higher at one point last night before giving most of that up to close 0.75% higher. Meanwhile, gold turned a 0.5% gain into a 0.5% decline. The miners were extra weak given the size of the move in the metals, though some have acted better than others.

Running the Asylum Perhaps markets will be pinned until we get through the FOMC meeting next week. We know what they're going to do, and we know how they're going to huff and puff. Thus, the fact that the market is hostage to this group of fools who have been so wrong is maddening, but I guess no more so than a lot of other crazy things we see daily, in the world today.