Tuesday Interest Rates & the US Dollar
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If you blinked you missed your opportunity to refinance your home. Mortgage rates have spiked but the market isn't in the mood to notice, and that definitely works in favor of higher stock prices, for now. Bad news is being ignored as investors are either focusing exclusively on the short-term or are seeing light at the end of the subprime tunnel.
10-Year rates are bumping up against the downtrend upper channel. The TBill rate continues to be weak, but now I suspect that it is bond market profits rather than stock market profits that are moving to TBills as investors wait out the problems in the equity market.
Last week I felt fairly certain the US Dollar was due for a bounce. Now I'm not so sure. The TRIX looks like it is signaling a lower dollar. The strength in gold, silver, and just about every other commodity seems to be confirming a lower dollar as well.
If the US Dollar is about to take a turn for the worse, do we jump back into gold? Or is this market trying to suck us back in just when we should be selling? Yikes! I still own some gold and certainly regret taking profits at lower prices, but aren't there better opportunities to deploy cash at the moment?
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