Shares slide as interest rates rise

There's not a lot to say about the DOW or the UK markets other than that the downward drift continues. Since the hit on Wednesday and the big fall on Thursday the slide has been slower. It's four days since the break of support.

There is another way of looking at this. Since 2nd August, when it made a new all time high, the Dow has come off 650 points. Quite a big deal. Over that same period my short on US 20year bonds (TBF) has made a 4% rise indicating that interest rates have risen fast. Tomorrow is a big day for the markets. The minutes of the latest Federal Open market Committee will be released. They should give a clearer idea of what will happen to Quantitative Easing. The chances of tapering in September will then be clearer. More news will trickle out as the week goes on and the Jackson Hole economic summit on Thursday may indicate if there will be a worldwide shift in policy. So if there are fireworks they may happen tomorrow or Thursday.