US Stocks Slip Further After India Raises Rates

Having participated in the 1970s gold bull market, I witnessed overnight money from under 3% to over 21% as 10 year money went from under 3% to 14 7/8 % yet gold went from under $40 to $887.50.

Jim

Spin has little need for historical research. It is chosen and embraced for the its short term effect.

In an unscheduled move on Friday the Reserve Bank of India raised the repurchase rate, or its key lending rate, to 5% and the reverse repurchase rate, or the borrowing rate, to 3.50% effectively immediately.

30-Year US TBd Yield and Gold London PM Fixed:


US TBill Yield and Gold London PM Fixed:


Source: online.wsj.com