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b"A Huge Risk-On Day
\\nThe markets rallied all over the world. \\xa0Everything was up. All the foreign markets - European markets, Asian markets, rallied. \\xa0It was a huge risk-on day. Stocks went up and bonds got clobbered. Yields rose on government bonds, the 10-yr. out to the 30-yr.
\\nInsurance Rates Going Up
\\nThere will be a lot of pressure on insurance companies to pay claims for both recent hurricanes and where's that money coming from? It's got to come from the markets. \\xa0It is just not sitting there in a piggy bank. It is invested in stocks and bonds, so if they are going to pay claims, you would think that is a negative for the financial market as the insurance companies have to liquidate some of their portfolios, but not today!
\\nBig Move Down for Gold
\\nRisk-on, so you get rid of your safe assets, although I don't know why anyone would consider Treasuries safe, but everybody sold treasuries and bought U.S. stocks. They sold gold. \\xa0Gold was down $19 today. This is the biggest one day move I've seen in a while. \\xa0In fact, this $19 down move - gold has been moving up steadily to $1350 last week. I don't think I have ever seen a $19 up day.
\\nGold's Steady Climb
\\nGold's been going up slowly. \\xa0$5, $7, $3; maybe there was one $10 day, I think, but it has been a very slow, steady climb on a wall of worry. \\xa0And now, all of a sudden, we have a day where everybody is excited because the hurricane didn't do as much damage as it could have, and they all buy stocks. They dump gold and it goes down $19 in one day. Gold had been climbing before the hurricanes came around. and I don't think any of that gain was necessarily the result of the hurricanes. \\xa0Had none of these hurricanes happened, gold could have been exactly where it was before today. \\xa0Gold was rallying anyway.\\n\\nOur Sponsors:\\n* Check out Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.com/ \\n\\nPrivacy & Opt-Out: https://redcircle.com/privacy"