It seems the market euphoria caused by the European bailout package has subsided in favor of a reality check. As details are released investors are poking holes in the plan and many now view the bailout as a short-term solution, perhaps only delaying the inevitable. The result in the US markets is flat trading in both stock and bonds, with gold at $1216/oz, nearing an all time high.
Today the US Treasury is auctioning $38 billion of 3 year notes, which will be followed by $24 billion of 10 year notes on Wednesday and $16 billion of 30 year notes on Thursday. You should expect volatility to continue.
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