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Tuesday, November 23, 2010

North - South Korea Conflict = Lower Rates

Heightened International Tension Strengthens Dollar

The conflict between North and South Korea is having a predictable effect on credit markets this morning.

Specifically, whenever international tensions kick up, there is a flight to safety, which -- at least until now -- translates into demand for U.S. dollars and U.S. debt.

That strengthens the dollar, and (also) drives interest rates lower, however temporarily.

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