| The specter of higher interest rates spooked investors Friday. The usual cohort of rate-sensitive assets (bonds, REITS, utilities, staples) suffered tremendously during the terror. Commodities were also one of the hardest hit areas, with gold and silver tumbling all day long.
Higher rates dampen the appeal of non-yielding assets like the yellow metal and its high-beta cousin. Friday’s bloodbath also ushered in the long-awaited return of volatility. As is usually the case after a long absence, the sudden drop was as surprising as it was large. Despite the broad swath of destruction wrought on charts across the land, opportunity lurks in a few select areas...............................................Full Article: Source
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