OptionEye - Macro Outlook - June 10th
Reprot day today for those of us in Ag land..not expecting anything crazy but it hits you when you least expect it. Option volatilities have been rising...we shall see if that is a sign of things to come.
Overnight grains pretty quiet. Corn and beans close to unchanged while wheat is up 2 cents. All waiting for 11:00 CST.
The 10 year yield making a move higher again as it runs to 2.50%. It stands now at 2.48%. I am not saying I agree with that but it is what it is..
Stocks will open higher this morning as the S & P future points to almost a 7 point higher opening.
Oil is also spiking this morning and sits at $61.52 up $1.38 and running up against some resistance at $62.00.
Gold is higher as well at $1186.50 up $9.70 but in the grand scheme of things really has done much.
The dollar is weaker giving all commodities a boost and stands at 94.98 down .18.
Today we get thje WASDE and MBA Mortgage Applications. Tomorrow will be a biggie with Retail Sales.