Granted, the euro is up over 1% today. And Asian equities ran to positive territory, although only the NIKKEI showed any real vitality as it bumped up almost 1% on the day.

Gold took a beating overnight in Asia and in trading in New York later. It is off its U.S. lows, but it is still trading in the mid-1090s.

The June Consumer Price Index was reported out today and fell in line with expectations at 0.3%. This caused the true believers in a September Federal Reserve interest-rate hike to break out the dance records and party hats.