The new year has gotten off to an excitable start from a geopolitical standpoint, as U.S. military forces went into Venezuela to capture Nicolas Maduro and his wife on the basis of bringing them to justice primarily for narcotics trafficking and weapons charges. This development has shaken political offices around the globe, but we can’t say that it has shaken equity markets around the globe.<\/p>\n\n\n\n
Japan’s Nikkei soared 3.0% today; Germany’s DAX Index is up 0.7%; and the equity futures market in the U.S. is indicating a modestly higher start for the S&P 500.<\/p>\n\n\n\n
Currently, the S&P 500 futures are up 24 points and are trading 0.3% above fair value, the Nasdaq 100 futures are up 200 points and are trading 0.8% above fair value, and the Dow Jones Industrial Average futures are up 35 points and are trading 0.1% above fair value.<\/p>\n\n\n\n
There isn’t any real safety trade in the Treasury market either. The 2-yr note yield is down one basis point to 3.47%, and the 10-yr note yield is down one basis point to 4.18%. The dollar and metals prices, however, are higher.<\/p>\n\n\n\n