TOKYO, July 14 (Reuters) - Japanese investors have been buying most of France's government debt recently in a record surge spurred by expectations that Europe faces the kind of deflation and growth that Japan suffered for decades.
I am still working on the assumption things are different in the Eurozone than they were in Japan, but it is a scenario worth keeping in mind.
Just when everyone was getting excited about gold’s “safe haven” role it gets hit this morning (down $18 now). Below is a chart displaying the 21-day correlation between gold and the US dollar index, now at -76.2%--that is tight and says as gold rallies the dollar index falls and vice versa…
Positions
Euro higher this morning, with little change in CAD and Aussie…overall the session is a bit quiet this morning…US stocks looking to pop higher on the open…oil continues to sag…US bonds flat…
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