The financial markets and economic situation may be morphing into a potential severe credit event. Many have been insanely reaching for yield in the bond markets.
The financial markets today are being driven by the Russia-Saudi Arabia geopolitical and oil market developments. This is all likely a movement to get removal of U.S. sanctions off of Russia, Putin is sending a message to the U.S.. The potential for job losses in the oil/energy sector is big.
The USD continues to be a big factor in all that is happening. The European Central Bank (ECB) is not likely to be moving rates.
Suggest extreme caution in trading and the financial markets.
Gold and silver – not much movement today, but gold is being driven especially by deflation. It is noteworthy that the gold to silver ratio today is at an all time high – about 100 to 1, when it has traditionally been anywhere in the ranges from 55 to 1 or even lower. Central bank issues are a big factor in the movements of the gold market.