The US market has taken a breather yesterday, notwithstanding news very late in the New York trading session that a Special Counsel (Robert Mueller, ex-FBI Director) was being appointed to investigate Russia’s involvement in the election. It has not been another day of selling of US equities. Rather, the Dow has steadied, up 56 points after Wednesday’s 370 point rout. It’s been more a stop-gap session. US Treasury yields have changed little, 10s at 2.23%, up ½ a basis point. There has been earlier testimony from former FBI director James Comey circulating, Comey saying that he had not been pressured for political purposes to close an investigation. The implication then would be that President Trump is off the hook. Without pre-judging how the Special Counsel investigations might run or uncover, they have in the past run for up to years. Whitewater took several years to complete.