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Senior Contributor

OptionEye - Macro Outlook - Mar. 13th

Good morning. 


Overnight corn up 1, beans down 3 and wheat up 5.


The silliness continued yesterday as stocks took a HORRIBLE retail sales number as a wet blanket on rate hike talk and actually rallied. Big. Go figure. The 10 year yield came into 2.05% and is back out to 2.12% this morning. The markets are acting like they just don't know what to do with this information agains the backdrop of the Fed rhetoric. 


Oil is below $48 and sits at $46.46  down .59 cents as more talks of a glut do the rounds. 


Gold is laying there up $2.94  at $1156.62. 


Stocks are slightly higher this morning with the S & P futures market up 2 handles. 


The dollar is slightly stronger here this morning up .13 to 99.56 and flirting with 100.00.


Today's figures from the government are PPI and the University of Michigan Sentiment Index. 



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Senior Advisor

Re: OptionEye - Macro Outlook - Mar. 13th

The way I see it the financial sector saw the bad news on sales and decided then Fed wouldn't back off in the face of continuing bad news - so they bought equities.

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