Well yesterday was wild in equities–the S&P500 moved lower virtually all day hitting a low of 3764 before reversing and clawing back some of the losses, closing at 3822 which was a loss of almost 1.5% on the day. Futures are up 1/3rd% at this moment and with thin trading volume expected today there is no telling where we end up. Markets will be closed on Monday.
The 10 year treasury yields didn’t move too much much at all yesterday–closed at 3.67% and now is at 3.70%. With the personal consumption expenditure (PCE) price index due in 5 minutes we’ll see what happens–we could see lots of movement.
Yesterday I didn’t do any investing — no buying or selling — maybe this morning I will buy, but not feeling any pressure at all to do anything. Today I have to run out and buy 1, yes 1, Christmas present–around our house the grand kids make out well while the rest of us do without.