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  • A Taxing Divorce?

    In This Issue..

    * New Home Sales ignite risk
    * Currencies rally...
    * Oil rises to $79, pushing loonies higher...
    * Deutsche Bank has minimal exposure to GIIPS...

    Good day... And a Terrific Tuesday to you! A very long day back in the saddle yesterday for your Pfennig writer. So, I'm dragging the line a bit today... Plus getting in and out of a regular car, for someone with my handicap is not something you'd want see or do! It's a pain! But... My car is in the shop... I certainly hope they get it fixed soon, as that's the vehicle we use to pull our camper to Table Rock Lake! And... We 'were' going to leave on Sunday!

    Well... Yesterday morning, I told you the currencies, for the most part, were flat... That didn't last too much longer... The U.S. printed, what the media and markets thought was a fabulous New Home Sales report, and the rally in risk assets was 'on'! With stocks and currencies in rally mode, Gold and Silver backed off... I'll talk about that trading theme we've seen lately in a minute, but first... Let's talk about the Housing data......