Another week when the Dollar remained relatively firmly bid, the Dollar Index closed just above 98. Gold is not really going down but its not really going up either. What is going up are bond yields, long-term bond yields just made a 4-month high with the 30-year yield at 2.55% and the 10-year Treasury yield just below 1.80% and this despite the fact that the economic news during the week, on balance, were generally weaker than expected. (SPDR Barclays Capital High Yield Bnd ETF (JNK), iShares Barclays 20+ Year Treasury Bond ETF (TLT), U.S. Treasuries, iShares iBoxx $ High Yid Corp Bond ETF (HYG))
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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