The currency market may soon be split between central banks who will tolerate higher borrowing rates and those who won't. The Australian dollar was the top performer on Monday while the Swiss franc lagged. Watch out for comments from Brainard in the day ahead.
The ECB's Villeroy had the clearest response yet to the turmoil in the bond market. He said much of the recent rise in yields is unwarranted and that the ECB must react against it.
Not a day goes by, that one gold ETF or another is reporting on the gains to its stockpile. Most of those gains come from financial institutions and hedge funds boosting their portfolio positions. We do not in any way denigrate the importance of this Wall Street move to gold. In fact, their presence in the gold market has been one of the market mainstays over the past few years and a welcome addition to the ranks of gold owners.