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Registered: ‎05-03-2010
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OptionEye Macro Outlook July 10th

Good morning. 

 

Overnight sees corn up 7, beans up 18 an wheat up 10. You wanted volatility you got it!. 

 

The dollar is slightly stronger at 96.16 up .15.

 

The 10 year yield still strong at 2.37% and making some of the blind longs start to puke. 

 

The stock market is a little mixed this morning as we wait with baited breath if congress will do anything. The S&P future is up just over a point and the Dow future lower by 10 points. 

 

The oil market is easier AGAIN down 18% on the year and trades at $43.70 down .53 cents. The gold market is lower at $1209.78 down $3.36 and threatening the $1200 level. 

 

Today we get Consumer Credit and the Labor Market Conditions Index Change. It is all on the folks in DC.