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Registered: ‎05-03-2010
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OptionEye Macro Outlook February 9th

Good morning. 

 

Overnight, predictably quiet. 

 

Corn is down 1, beans are down 6 and wheat is down 2. Today we get the USDA report so we will be quiet until 11:00 CST when the numbers finally come out. 

 

The dollar is pretty much unchanged and over that 100 level in the Bloomberg Dollar Index. This morning it trades at 100.31 up .03. 

 

The stock market will open a little higher this morning with the S&P future currently up just over 4 points and the Dow future up 36 points. 

 

The 10 year yield getting the headlines as it slides ever lower. This morning it trades at 2.36%. Where is all this so called inflation? Is the 'reflation' trade dead or just deflated? 

 

The oil market is - yes - you guessed it, stuck inbetween $50 and $55 at $52.74 up .40 cents. The gold market backing off a bit at $1239.29 down $2.19. 

 

Today we get Initial Jobless Claims, Continuing Claims, the Bloomberg Consumer Comfort Index, Wholesale Inventories as well as the much anticipated USDA report at 11:00 CST.