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Senior Contributor

OptionEye Global Macro Outlook May 15th

Good morning.

 

Overnight sees corn up 2, beans up 1 to 2 and wheat up 3. 

 

The dollar is stronger at 92.78 up .19. 

 

The stock market looks to try and close higher for a 9th day in a row but will begin on a negative note as the S&P future is down 7 and the Dow future down 60. 

 

The 10 year yield is trading at 3.01% above that 3.00%. The 2 year yield is at its highest level in 8 years. 

 

The crude oil market is trading at $70.96 which is sharply unchanged. Gold is trading at $1310.27 down $3.23.

 

Today we get the Empire Manufacturing numbers, Retail Sales, Business Inventories, the NAHB Housing Market Index, Total Net TIC Flows and Net Long-term TIC Flows. 

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