Stocks and Precious Metals Charts - Safe Harbors - Running Before the Storms

There was a highly observable 'flight to safety' today in the markets, in response to fears for the political and financial stability of Italy.

The US dollar was again sharply higher, and US debt saw its yields decrease in response to safe haven buying.

Gold and silver were largely unchanged in the face of the soaring dollar.

There are a number of sources of potential geo-political instability in the world. The Australian housing bubble is capable of taking down a Bank or two given the bubble in housing debt valuations. Canada is also riding a housing bubble in several of its major cities. And the US is once more vulnerable to a cascade of counter-party failures which, need we say it, no one could possibly see coming.

But for now the focus is on Europe and on Italy, which had dared to form a populist government which was taken down by the President.

This holiday-shortened week is packed with economic data releases.

There will be a Non-Farm Payrolls Report on Friday

Need little, want less, love more.

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