The U.S. Comex gold futures rose 1.93% last week but fell 2.11% this week to $1,176.60 on Tuesday. The S&P 500 Index rose 0.68% this week while the Euro Stoxx 50 Index surged 4.97% and the crude oil futures jumped 2.35%.
In mid-April, we warned of a turn in rates when the Bund yield was near zero. The candlestick pattern that precipitated that call was a "double doji," which points to heightened indecisive trade and a potential for forthcoming volatility.
Germany’s government bonds held a two-day advance as euro-area manufacturing growth slowed more this month than economists predicted, strengthening the case for the European Central Bank to expand monetary stimulus.