Christmas Colors

Yesterday brought a field of green but today is a sea of red. What happened? The relentless march higher in bond yields and the POSX is finally taking a toll today.

And it is what it is. We've had great success in continuing with the PM rally, despite the surge in rates and POSX. But today just feels like a bridge too far. The selling in the PMs began last evening, as soon as the Globex reopened at 5:00 pm CT on the chart below....

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Key Economic Events Week of 11/11

11/11 US bond market closed
11/12 10:00 ET Goon Waller
11/12 10:15 ET Goon Barkin
11/13 8:30 ET CPI and Core CPI
11/13 9:45 ET Goon Logan
11/13 2:00 ET US monthly deficit
11/14 8:30 ET PPI and Core PPI
11/14 3:00 ET Chief Goon Powell
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire Fed Manu Idx
11/15 9:15 ET Cap Ute & Ind Prod
11/15 10:00 ET Business Inventories
11/15 1:15 ET Goon Williams

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