September 8, 2017
Friday was quiet as attention focuses to what appears to be the pending impact of Hurricane Irma on Florida. The Dow, at 21,797, posted a fractional gain on the day to trim the weekly loss to 0.9 percent. Demand for safety is strong with gold up 1.7 percent on the week to $1,352 and Treasury yields down sharply with the 2-year 9 basis points lower in the week to 1.25 percent and the 10-year 10 basis points lower to 2.06 percent. In contrast, the dollar index posted a sharp decline on the week, down 1.6 percent for a year-to-date loss of 10.7 percent.