Monday August 1, 2011 5:10 PM

Markets indexes finished down about 0.4% on average, even though it was apparent by 3:30 that the House would approve the debt ceiling bill. Stocks had been down over 1% mid-morning.

Attention has shifted to the really poor economic #s of late. There is even speculation that QEIII will be coming shortly. Since bond yields have dropped and so much money is in circulation, it doesn’t seem necessary, though I was against the first two versions.

Bonds did well today; commodities were up slightly. There was minor profit-taking in gold.