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Senior Contributor

OptionEye Macro Outlook August 29th

Good morning. 


We have awoken to some more disturbing North Korea news overnight with a missile launch over Japan. so now we have Hurricane Harvey and Krazy Kim. Watch this space. Equities around the globe are lower with the major European Bourses lower by 1% to 2%. 


Overnight corn is down almost 2, beans down 4 and wheat down 2. 


The dollar is getting hit versus other currencies and trades at 91.73 down .46. 


The stock market will open on the defensive and sees the S&P future down more than 16 points early and the Dow future down 114. 


The 10 year treasury is trading lower in yield terms and stands at 2.11%. 2.10% will be a big level to close below as it would point to 2.00% and maybe even lower. 


The crude market is trading heavy. WTI trades at $46.53 down .04 cents. Gold getting a safe haven boost and breaks through $1300 and stands at $1321.34 up $12.99. 


Today we get S&P CoreLogic Case/Shiller Home Prices and the Conference Board of Consumer Confidence. 


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