In yesterday's podcast, we discussed the likelihood of a short-term selloff in the bond market and we have seen this play out today. We've also gotten word that the US is planning a series of tax cuts and other fiscal stimuli and this has enabled a rebound in the "stock market". Put these two together and it's no wonder that Comex Digital Gold is down $20 as I type.
So here are the basics:
- the 2-yr note is up 7 bps to 0.42%
- the 10-yr note is up 14 bps at 0.64%
- the 30-yr bond is up 17 bps at 1.11%
- and the DJIA is up 737 points as I...