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Senior Contributor

OptionEye Macro Outlook December 12th

Good morning. 

 

Good to be back in the US again. Quick trip abroad before the holidays. The feeling is pretty much the same everywhere. It just smells like these markets are trading on normalcy again. Don't really hear a lot about central banks anymore. It should be a good thing. 

 

Overnight grains see corn down just over 1 cent, beans down 3 to 4 and wheat down 5 to 6. 

 

The 10 year breaching that 2.50% level this morning and trades at 2.504% as the time of writing. 

 

The stock marklet is going to open a little mixed this morning with the S&P future down almost 1 point and the Dow future up 13 points.  

 

The oil market getting a big boost from non-OPEC countries committment to cut production. The oil market is up by $2.18 to $53.68. Gold not having the same luck and is lower at $1156.19 down $3.82. 

 

The dollar is lower but still very strong at 101.31 down .28. 

 

Today we get the Monthly Budget Statement. Pretty quiet as we await the Fed later in the week. 

 

 

 

 

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