“This week, we saw the highest turnaround day in the S&P in history,” Celia said. “It was pretty amazing as we saw buyers start to flood back into the markets. Of course, the lower bond yields get, the more investors will be looking for greater yield opportunities, and the only way they will find that is by being in the markets. At some point, these traders need to understand that if you’re worried about yield, then you ought to worry about consistent yield and not panic every time the value drops. I think we’re going to begin to see more and more of that.
“Asia markets are beginning to stabilize a bit,” Celia added. “Here’s some very interesting news. China imported Iranian crude oil in the month of July for the second consecutive month since the U.S. sanctions waiver ended, according to research from three data firms that tracked tanker movements. Between 4.4 million and 11 million barrels of Iranian crude were discharged to China last month, or 142,000 to 360,000 barrels per day. The upper end of this range would mean July imports still adding up to close to half of the year’s earlier levels despite sanctions. The communist regime of China is propping up the terrorist regime of Iran and ignoring sanctions placed on Iran by the U.S. This is a country where everyone is concerned about a trade deal. My hope is that President Trump sticks to his guns. Let’s move on to the rest of the developed world when it comes to trade.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about more than 650 radio stations and several television networks nationwide.
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