Monday, stocks in Asia declined 0.3% and in Europe 0.5%. In the U.S., stocks fell 0.4% on low volume. The VXO rose over 5% to close at 13.63. Tuesday, in Asia stocks fell 0.5%, in Europe they rose slightly, and in the U.S. they fell slightly on low volume but enough for the S&P 500 Index to drop below 1700 again. The 10-Year Treasury Bond yield dropped over 2% to close at 2.65%.
Wednesday showed little change. Asian stocks closed flat and those in Europe and the U.S. fell slightly. The 10-Year Treasury Bond yield declined to 2.61% while precious metals and their miners gained about 2%. Thursday, Asian stocks rose slightly while in Europe they closed flat. In the U.S. stocks rose 0.3% on very light volume. It was a pretty dull day and telling that turkey-stock FaceBook was up nearly 2% to close above $50 per share.
Friday, stocks in Asia and Europe fell slightly. In the U.S., stocks fell 0.4% on low volume. For the week, stock lost 1% as apparently investors are increasingly walking away from trading stocks. The current issue is whether or not Congress and the president will kick the can or actually do what is right.
Of course, they will kick the can until they’re kicked in the the can — just like their partners in crime at the Federal Reserve. The Fed has clearly lied about their intentions saying their objective is “no particular market outcome.” They will continue their obscene bond purchasing charade until the bond market forces their hand.