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Why A BAT Will Clobber The Dollar – Ep. 236

Why A BAT Will Clobber The Dollar – Ep. 236

U.S. stocks ended the week with marginal gains
In fact, the Dow Jones was up only about 12 points on the week
The real action happened overseas
Foreign markets were strong, particularly emerging markets
They continue to smoke the performance of the U.S. stock market, confounding the experts
The experts thought making America Great Again would be great for U.S. stocks, but it would be a problem for emerging markets
And thus far, emerging markets have been the beneficiaries of the rally to a much greater degree than have domestic stocks
Although the action this week was not really in the stock markets but in the currency markets, in the gold markets
The dollar dropped by over 1% despite the fact that the Fed raised rates
In fact, this was one of the worst weeks for the dollar in about 4-6 months
Gold was up about $25; up 2% on the week
"Hey! I thought gold was supposed to fall, when the Fed hikes rates
Instead, the Fed hiked rates and the price of gold rose