If you are wondering why gold and silver are pretty significantly lower today and stocks higher, overnight more war premium was peeled off as the ally with assets in the area, Great Britain voted in the House of Commons last night against military action against Syria, the Germans never considered it and the French are (according to Hollande) "Ready to punish Syria", but he's set a vote for action in parliament for Sept. 4th so he's not exactly charging to the front lines, leaving Obama who said just the other day that he will not move forward without international consent on an action that was already very limited, now just about every key US ally has said no thanks or "Yes, we're just kind of busy at the moment".
It seems this administration got itself in to this mess and backed itself in to a corner with words that may have not been thought out very well that are leaving them in a predicament that is pretty hard to save face, but the market is peeling off the war premia for now.
This morning's headline Eco-data in the US wasn't the best either, a miss in Personal Income and Savings, remember "Bad news is goos news " for the market now, other than that, not much has changed except PM's of course, we're still at op-ex Friday and month end flows.
5 years ago
No comments:
Post a Comment