Gold and silver prices are jumping, bonds are bid off their high yields, and US equities have dropped to the lows of the day as Boehner gets behind Obama:
- BOEHNER SAYS WILL SUPPORT OBAMA'S CALL FOR ACTION IN SYRIA, BELIEVES COLLEAGUES SHOULD DO THE SAME
- BOEHNER SAYS `ONLY THE UNITED STATES' CAN RESPOND TO SYRIA
- BOEHNER SAYS UN, NATO UNLIKELY TO TAKE ACTION ON SYRIA
Of course, given the military's moves over the weekend, was there really any de-escalation (as we warned Friday).
So what did the oil traders know that stocks didn't?
[2]
In summary (as we noted over the weekend) [3], perhaps there were hints Boehner would shift his view
"So to sum up: since last week, when the entire world expected the US to attack Syria imminently, and when there were "only" 5 destroyers within striking distance, now that the sentiment is that war is far less probable, the US has an additional 4 destroyers from the Nimitz group, two marine ships, and an aircraft carrier.De-escalation? Not really. "
And Nancy chimes in:
- PELOSI SAYS DOES NOT BELIEVE CONGRESS WILL REJECT RESOLUTION CALLING FOR FORCE IN SYRIA
And now House Majority leader Cantor:
- *CANTOR SAYS HE WILL SUPPORT OBAMA ACTION IN SYRIA