Bond Vigilantes Getting Ahead of Helicopter Ben

The news today will be about the Dow ($ES_F, $SPY). The real news ought to be the mid point of the Eurodollar curve ($GE_F). Gold’s were down 30 points. That’s a two standard deviation move. Notes and bonds ($ZN_F, $ZB_F), were down big too.

For gold ($GLD, $GC_F) bugs, it was a miserable day. Market up, treasuries getting hammered, oil up, and gold getting smacked lower.