US Treasury Sales
Stocks fell as did bonds today. The major mover was the Dollar which gained one cent against the Euro. Oil gained over a Dollar which was a surprise. Gold and Gasoline went sideways.
Special Announcement – I will be traveling until mid January, so the economyguy news will be spotty at best, but don’t be forlorn, as I will return.
In the news today…..
Wholesale Inflation – rose 1.8% last month, almost double what the experts thought. This spooked the markets. Naturally, this is one of those statistics that I only watch when there is at least a 3 month trend, and we aren’t there yet.
FOMC today – and I expect no change from the FED position on zero interest rates.
US Treasury sales – fell to foreigners last month to $20B. The month before it was $40B – not a good trend. This is one of the critical statistics to watch as it foretells the increase in interest rates that the FED must do when no one will buy out Treasuries. We’re okay right now.
Here are the last numbers for today:
Dow Jones 30 Industrial – 10,452 (down 49 points)
10 Year Treasury Bond – 3.60% (up 0.06%)
Euro – $1.4535
Gold – $1123 (no change)
Oil – $70.75 (up $1.24)
Gasoline – $1.85 (up $0.02)