The Fuse
Equity futures are getting drilled this morning after we learned of attacks on the Iranian government that toppled the Supreme Leader of the country. Chaos is now the order of the day in the Middle East, which we have seen many times before. We’ll see if that opens the door to buying opportunities.
Stocks in Europe fell hard, down 1.5% on the STOXX led lower by large moves down in Germany and France. FTSE also down, .7% as the dollar rallied up .8% on the DXY. Gold is ripping higher again along with silver, crude oil the big winner up nearly 8% and above $70 for the first time in awhile. Yields in Germany holding steady while 10 yr US treasury yields dipped 2bps. Stocks in Asia were mixed, Japan falling 1.3% and Hong Kong off 2.1%, Shanghai gained .5%.
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