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Senior Contributor

OptionEye - Macro Outlook - June 4th

Good morning. 


Overmight corn down 1, beans up 1 and wheat basically unchanged. 


Stocks look to open lower with the S & P future down over 12 points this morning. European stocks are down as well between 1.00% and 1.70% as volatility picks up with the European bond rout. 


The 10 year yield here is not immune either and is plumbing the depths with a yield of 2.38% having broken through that key 2.28% level. It is a weird world where the bond market is making the stock market a safe place to hide. 


The oil market is basically unchanged at $59.60 down .04 cents. Gold is quiet as well down $2.15 to $1182.90. 


The dollar is weaker at 94.92 down .63 this morning. 


Today's numbers are the Initial Jobless Claims, Continuing Claims and the Bloomberg Consumer Comfort Index.  



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