Permanent Gouging
The stock market was boring again today, just falling 49 points. The 10 year treasury bond market continued its sideways movement, and ended up just below 3.5%.
The real action was everything else.
Oil set a new high today!!!!!!!!!! Get used to permanently being gouged at the pump.
Gold moved up sharply too.
The Euro is poised to test the all time high very soon.
In the news today…..
The 30 year fixed rate mortgage is 5.78%, and the 15 year is 5.39%. With any luck these might come down, but that would be just dumb luck as the 10 year treasury bond is having terrific difficulty in lowering its rate. We would need some really bad recession related news.
Otherwise, nothing important happened today. (unless you were one of those people stranded by American Airlines.)
Here are today’s numbers:
Dow Jones 30 Industrial – 12,528 (Down 49 points)
10 Year Treasury Bond – 3.47% (Down 0.09%)
Euro – $1.5833 – broke thru some key barriers and could test all time high of $1.59+
Gold – $938 (Up $20) – Did you buy with both hands yesterday??
Oil – $110.87 (Up $2.37) - NEW HIGH set at $112.20 today.
Gasoline – $2.77 (Up $0.02)