Pres. Trump is speaking and with so many balls in the air, his comments are of market interest.
Says we have a bad Fed Chair. Will pick a new Fed Chair in the next few weeks.
On Iran:
When asked about hell on the way to Iran, says you are going to find out.He says it is a good idea if Americans about away from Iran.Says Canada wants a USMCA Trump says we don’t need it. (of course it was an agreement he made with Canada)
Crude oil prices are higher. The current price is trading at $61.19. That is up about $1.70 or 2.82%
In other news,
The US treasury auctioned off $22 billion of 30 year bonds
The auction was met with strong demand:
WI level at the time of the auction was 4.833%.High-yield came in at 4.825%Tail -0.8 basis points versus 6 month average of +0.5 basis pointsBid to cover 2.42x vs 6 month average 2.34XDirects 21.3% vs 6 month average of 23.9%Indirects 66.77% versus 6 month average of 63.7%Dealers 11.9% versus 6 month average of 12.4%.
A look around other markets shows the major stock indices are lower. Yesterday the down S&P closed at record levels.
Dow industrial average -0.78%S&P index -0.37% NASDAQ index -0.21%
Yields are moving lower helped by the strong auction:
2-year yield 3.524%, -2.3 basis points5 year yield 3.737%, -2.9 basis points10 year yield 4.167%, -2.0 basis points30 year yield 4.828%, -1.2 basis points
Gold is trading down $-5 or -0.11% at $4593. That comes after trading to a new record high of $4634.58 earlier today.
Silver is still up $1.99 or 2.36% and $87.08. It traded to a new all-time high price earlier today at $89.11.
This article was written by Greg Michalowski at investinglive.com.