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Senior Contributor

OptionEye Macro Outlook - Dec. 17th

Good morning.


Well she did it. Janet Yellen chose to save her credibility rather than the economy. Let's see how the economic figures play out from here. I think things are about to get very interesting.


Overnight sees corn down 1, beans down 6 and wheat down 4. A pretty ugly start to the day.


Oil inventories were not friendly yesterday and sent oil lower. I have said this before but oil and the dollar are going to be the main drivers next year. This  morning oil is lower again with the Feb contract down .32 cents to $35.20. Gold is lower as well but not going very far currently trading $1066.63 down $5.68.


The 10 year yield was all over the place yesterday as were stocks. The 10 year stands at 2.25% and stocks look to open higher. The S&P future is pointing towards an opening of over 5 points higher and the Dow future up 44 points.


Today we get Philadelphia Fed Business Outlook, Initital Jobless Claims, Bloomberg Consumer Comfort and the Leading Index.



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