Dow 9,995.91 -67.03
Nasdaq 2,156.80 -16.49
SP500 1,087.68 -8.88
30-yrBond 4.247% -0.066
The year-old Treasury program to backstop money market funds has ended. The money markets had invested considerable funds in mortgage backed security debt. The losses were causing some funds to "break the buck" which means net asset value dropped below $1. Funds were flowing out of money markets. Treasury backstopped the funds. Now the Treasury backstop is expiring, so expect some risk-averse money to move into CDs and Treasuries. This movement will put demand on Treasuries, thus increasing the prices and reducing the effective interest rates.
GLD 103.18 +0.32
SLV 17.18 +0.12
PTM 16.33 -0.13
XLE 58.99 -0.18
XLF 15.22 -0.37
CNSL 15.07 -0.34. Quickly coming off highs. Has a great dividend.
HOG 27.86 +0.17. 52 week high. Has had a nice run. Waiting to short at higher prices.
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