“Some people don’t like change, but you need to embrace change if the alternative is disaster.”
• Investors’ “Flight to Safety” trades dominated market action last week. That trend will continue. The most obvious shift in investor sentiment was the screeching halt to the trend of higher rates in the U.S. Treasury market. 10y Treasury yields reversed their ascent. Rates fell from almost 5% to this morning’s current level of 4.60%. Gold