Two Credit Markets
Stocks jumped again today by 299 points, and 10 Year Treasury bonds are holding around 2 3/4%.
The Dollar lost more ground today – in conjunction with the stock jump up.
Oil remains tame as does gasoline prices.
Gold gained $17 today – ending at $769/ounce – still a buy.
In the news today….
There are two credit markets in the US today. One is backed by the US Treasury and FED, and that market is doing just great. The other credit market is NOT backed by the US Government, and it’s doing terrible. If this state of affairs remains, there will be some terrible crashes in that second credit market.
Here are Today’s numbers:
Dow Jones 30 Industrial – 8591 (up 173 points)
10 Year Treasury Bond – 2.67% (down 0.02%)
Euro – $1.2705
Gold – $771 (down $13)
Oil – $46.79 (down $0.17)
Gasoline – $1.04 (down $0.02)