Monday, stocks fell in Asia 0.3% and in Europe 0.5%. In the U.S., markets were closed for Labor Day. Tuesday, stocks changed little in Asia and Europe. Stocks fell 0.8% in the U.S. on moderate volume amid concerns of heightened tensions with North Korea and prospects for destruction from Hurricane Irene. The 10-Year U.S. Treasury Bond yield closed sharply lower, dropping 4%, to close at 2.07. Precious metals gained 1% while their miners gained 2%. As a bit of fear returned to traders, the VXO jumped 21% to close at the still very benign level of 10.84.
Wednesday, stocks fell slightly in Asia, closed little changed in Europe, and gained 0.4% in the U.S. on moderate volume. The VXO fell 10% to close at 9.81 while the 10-Year U.S. Treasury Bond yield rose 2% to close at 2.11. The big news of the day was that President Trump struck a deal with the Democrats to raise the debt ceiling for three more months.
Thursday, stocks rose slightly in Asia and Europe but closed little changed in the U.S. on moderate volume. The 10-Year U.S. Treasury Bond yield fell 2% to close at 2.06. Precious metals gained 1% and their miners gained twice that amount.
Friday, stocks in Asia gained 0.8%, rose slightly in Europe, and closed little changed in the U.S. on moderate volume. VXO rose 10% to close at 10.76. The House passed the bill to raise the debt ceiling three more months. The 10-Year U.S. Treasury Bond yield fell 3% to close at 2.07.