It’s been quite an interesting week. Most of my focus has been on stock earnings. There has been a bit of a blowup in high yield credit, so we must watch carefully because when oil is up like this, you would not expect yields to be rising sharply in junk bonds. We have known for quite some time, that there are serious issues in China with the credit markets and that is just the start of it. The yield curve in China has already gone inverted so there could be some serious problems ahead in 2018. Have to just stay vigilant and watch for these warnings signals to gain pace.
USDJPY v gold daily. This chart shows the correlation between gold and the yen.
Silver daily stuck in a range.
Copper daily is counter trend.
Oil holding the breakout with concerns in Saudi Arabia.