New year, new theme, Gone for now is the worries about the trade war, which are replaced by the Geo political tensions with Iran. Markets and the World waiting for Iran’s response will it be a military target in Middle East or will it be Israel or here in the USA. Iraq not Happy with USA as her Parliament voted to expel all Foreign troops from their Soil, this is non bidding but still makes a statement.
Risk Off sentiment still prevailing in markets spoos -.6%,Nasdaq -.76%, Stoxx 50 -.8% ,Crude +.9% Brent +1.2% Gold the big winner +1.5% but surprisingly the other flight to safety assets Bonds and Yen little changed, something to take notice of.
Unemployment at end of week and non-manufacturing ISM tomorrow are the economic highlights this week,but today all eyes again on twitter and news wires as we await the irain response and Trump rhetoric.