Markets bled well into the red today on no real specific reason. We didn’t see panicked selling but it’s a bit of a head scratcher. Some dealers were saying investors were selling to lock in profits on worries about what a strong US jobs number on Friday could mean.
Bonds yields continued climbing higher in Europe and North America.
The euro resumed gaining strength against the US dollar. As we pointed out in today’s blog post, so many investors are short the Euro so when they go the other way it causes it to gain strength.
Oil prices jumped higher today. Gold didn’t move too much even amidst everything going on.
Courtesy Otterwood Capital Management
