Is Gold Overbought Or Will Flying Missiles Make Shiny Doorstops Great Again?

But again, part of the story here is that gold could get some of the haven flows that would normally go to the yen. Because if this gets bad – and reports that Japan is preparing plans to evacuate 60,000 citizens living in or visiting South Korea suggest it might – then investors will likely shun the yen in favor of bullion and the franc (because as far as we know, Kim isn’t firing missiles at Switzerland). 

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Trump’s DACA Decision Could Be Political Suicide

Let’s just step back from the moral depravity for a second and think about this from a purely strategic perspective.

Yes, there’s a kinda, sorta deadline for this decision thanks to 10 states that have threatened to sue the government if it doesn’t stop protecting people brought into the country illegally as children. But obviously Trump isn’t obliged to heed that threat. He could take that risk in the interest of not igniting another racially-charged, political firestorm just weeks after he threw gasoline on the firestorm his bungled response to Charlottesville created by pardoning Joe Arpaio. 

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Trump Pens Labor Day Op-Ed About ‘Turning Dreams Into Reality’ With ‘Our Own Two Hands’

“As we celebrate Labor Day, we are reminded of the inherent dignity of work and the American worker. In America, we honor grit. We honor determination. We honor craftsmanship. And we honor the men and women who turn dreams into reality with their own two hands.” “

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Vol. On ‘Cheap Market With Fast Earnings Growth’ Just Spiked The Most Since ‘Fire And Fury’

So that’s all fine and good, but the thing is (and we’ve been warning about this for months), you’ve gotta wonder about an equity market that’s seen an avalanche of YTD inflows and until recently was sitting near record highs when, at least by proximity, the country it represents is the most dangerous place on earth (hyperbolic, but you get the idea).

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Asian Shares Tumble, Gold Rises As North Korea Said Planning New Missile Launch

“Though considered a tail risk, a military confrontation on the Korean peninsula could see Asian currencies falling 5% to 10% and the region’s equities plunging 20%,” UBS Wealth Management Global CIO Mark Haefele and head of Asia Pacific investment Min Lan Tan write in a new note.

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