Good morning.
The world seems to be melting around us.
Overnight North Korea claims to have detonated a hydrogen bomb..underground. Unsubstantiated reports doing the rounds about tremors.
Our markets will be volatile.
Grains overnight corn is down 1, beans down 4 and wheat down 2.
The 10 year yield showing signs of world nervers as it inches lower. Currently it trades at 2.18%.
The stock markets around the world also showing nerves as Asia to Europe sees most of their stock indexes off .50% to 1.50%. Our S&P futures are off over 30 points and the Dow future off 248 points.
The oil market also is nervous as oil trades lower to $35.02 down .95 cents. Gold is getting the flight to quality boost and is higher by $8.20 to $1085.88.
The dollar is basicallly unchanged but still strong at 99.38 down .01.
Today we get MBA Mortgage Applications, ADP Employment Change, Trade Balance. Markit US PMI's, ISM Non-Manf. Composite, Durable Goods and Cap Goods not to mention the Fed minutes from the Dec.15-16 meeting where they raised rates for the first time in nearly 10 years.
It is going to be busy news day. Hang on to your hats.
