It appears nuclear armageddon, Russian tensions, Trump tweets, debt ceiling anxiety, and ongoing weakness in macro-economic data have finally hit home as Washington gets back to work...
Gold continues to lead as North Korean tensions surge...
Dollar is dumping back to North Korea missiles over Japan lows.
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Bonds are well bid... 10Y Yields at 2017 lows...
Precious Metals are surging - wth silver over $18..
Stocks are rolling over...
Meanwhile, OJ and Cotton futures are both surging on fears that Hurricane Irma threaten crops in southern states. According to Bloomberg, all of Florida's crop is at risk of moderate to severe damage, with trees already full of fruit, Donald Keeney, meteorologist with MDA Weather Services in Gaithersburg, Maryland, said in a telephone interview.
The Sunshine State is also the biggest U.S. sugar producer. Cane crops there may be knocked down and lose sugar content from heavy rains, Keeney said.
The risk from Irma comes as other cotton areas around the Gulf Coast struggle to recover from flooded fields caused by Hurricane Harvey. Cotton surged 5.5 percent last week after Harvey wreaked havoc to parts of Texas and growing regions around the Mississippi Delta. Cotton crops in parts of Georgia and South Carolina will be at risk of yield losses from Irma, according to MDA.
