OptionEye - Macro Outlook - June 24th
Overnight we have corn down 4, beans down 7 and wheat down 4. Talk of big shorts and wet weather have rallied these products as of late. Looks like a bit of a pull back this morning but with the report on Tuesday, volatility is here to stay.
Stocks are easier this morning as Greece lurches from in the EU to out of the EU. The S & P future is down over 3 points this morning.
The 10 year yield is at 2.39% after the housing numbers yesterday were good but we seem to be ignoring the bad Chicago Fed numbers, the bad Durable Goods numbers and the bad Cap Goods numbers...oh well.
Oil is lower by .07 cents to $60.94 and seems to have settled down. The gold market this morning is down $1.35 to $1177.25.
Today's figures are MBA Mortgage Applications, GDP, Core PCE and Personal Consumption. The GDP numbers should be interesting.