S&P 500 FINANCIALS INDEX
The MLP Index fell 3+ to the 319s while the REIT index dropped 2+ to 200+. But junk bond funds edged higher. The big story once again is Treasuries. Yields plunged with the yield on the 10 year Treasury bond falling a very big 11 basis points to 2.54+% & near the sub 2.50% 17 month lows reached last week. Falling Treasury yields spell trouble for the stock markets. However gold was flat at 1239.
Alerian MLP Index --- 1 month
Dow Jones REIT Index --- 1 month
10-Year Treasury Yld Index -- 1 month
Dow has returned to just a shade above 10K & holding on for dear life. Markets sank all day & closed at the lows. In all fairness, anything can happen when trading is slow during a semi-holiday week like this one. But the monthly chart below looks grim.
Dow Jones Industrials --- 1 month
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**Gold Super Cycle**