It may be Black Friday, but the traditional shopping frenzy is a little different this year and financial markets are winding up this week in a decidedly unfrenzied manner. With no new data on today’s schedule, bonds and stocks are both up a little bit, crude oil prices haven’t changed much, and gold’s getting beat up.
This morning’s quarter-point rally on the Ten-Year has pushed that yield down just a touch to 85 basis points with the Long Bond trading just under 1.60%. Crude oil is hanging on to a $45 handle but gold’s $17 dip has pushed that price down to $1,798. Equity values were up globally in overnight trading and the DJIA is poised to open with some small green arrows.