After a brief respite yesterday amid global terror attacks and weak data, the BoJ’s lack of action overnight appears to have spurred more panic-buying in stock futures (near record highs, Dow testing towards 20k), VIX-slamming, and a surge back into the dollar (back at Dec 2002 highs). Gold (and silver) and getting monkey hammered once again and bonds are being sold.
The Dollar Index broke its post-Fed highs to 14 year highs…
As EUR/USD hits fresh 13 year lows (amid chatter of European stability after Merkel’s political prospects look troubling following yesterday’s terror attacks).
Dollar strength – for now – means precious metal weakness…
But silver is worse…
And buyers are back in stocks (dumping protection)…Is today the day for Dow 20k?
and exiting bonds once again…
