August 7, 2012
Talk continues to build that the European Central Bank will soon begin buying bonds of the most troubled Eurozone members. The talk has made for three straight gains for the Dow which rose 0.4 percent to 13,166. The talk continues to ease demand for the safety of Treasuries where the 10-year yield is back above 1.60 percent, at 1.63 percent for a 6 basis point gain on the day. Oil, which had been rallying strongly, met with profit taking, falling nearly $2 to just above $93. Gold is steady just above $1,610.