Markets are increasingly into consolidation mode in front of the Christmas holiday. There has been a distinct lack of direction in recent days as Treasury yields have started to settle down and the dollar has swung between gains and losses. Yesterday’s gains on the greenback unwound previous losses, only to give gain the gains once more today. It seems as though the strong bull run of the past few weeks for dollar, Treasury yields and equities has slowed and this is a time for reflection, ahead of what is likely to be another tumultuous year in 2017. Gold is taking its lead off the dollar too and is consolidating ... (full story)