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Senior Contributor

OptionEye - Macro Outlook - Dec. 26th

Good morning.


Stocks continue their move higher this morning with the S & P up about 3 points here in early, quiet trade.


The 10 year yield is at 2.24% suggesting that there could be a rate hike next year begween April and July. I don't think it will happen but I am pretty much on an island in that thought. 


Gold is up this morning on short covering and sits at $1193.77 up $19.76. 


Oil has also quieted down and is up .48 cents to $56.32. 


Grains were closed overnight. 


Economic news is thin this morning and the dollar is a little stronger at 89.97 up .13.

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Senior Contributor

Re: OptionEye - Macro Outlook - Dec. 26th

Soybeans posting some decent gains on a VERY slow mid morning trade. Options volumes have been almost non existent as the futures squeeze higher. 


Most older traders will say it is bad to get short a quiet market and this is certainly turning out to be one of those days. With a decent start to the morning, weak shorts have hurt themselves as they rush to get out before the weekend.


The same can be said in corn as wheat takes a break from its run higher. 


All in all a very quiet trading session in Chicago. 

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Senior Advisor

This is what the US will face

Due to falling wages and a decling middle class economic growth through domestic consumption is unlikely to occur in my mind.

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