from Harvey Organ:
BLOODBATH IN STOCKS & BONDS TUESDAY WITH A MINOR KNOCKDOWN IN GOLD/SILVER/BOND YIELDS RISING AT AN ALARMING RATE/RETAIL SPENDING DROPS BADLY AS THE CONSUMER IS JUST ALL TAPPED OUT
On Tuesday, the big mover globally was the advance in yield on all bonds. This is quite something since 2/3 of the world still have negative interest rates and QE to boot.
No doubt this caught the attention of investors and they decided that it was not worth it to keep their money in the stock market. Keep in mind that a rapid rise in yields will cause a huge hardship to our underwriting derivative banks.
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