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ShelladyOptions
Senior Contributor

OptionEye Macro Outlook Mar. 14th

Good morning. 

 

Overnight corn down 1 to 2 lower, beans 2 lower and wheat 1 lower. 

 

The S&P future is lower by 12 and the Dow future is lower by 78 points. 

 

Very quiet day in equities as the world awaits what the Fed might do/say here on Wednesday afternoon. I say they keep rates on hold and give more waffle on watching the data. Nothing too surprising. 

 

The 10 year yield trading at 1.93% as it takes a defensive stance on rates. 

 

The oil market sold off hard yesterday as Iran said they wanted to keep pumping. This morning oil is lower again by .92 cents to $36.26. Gold is unchanged at $1235.25. Things are definitely on hold waiting for the Fed. Today will be quiet as well. 

 

The dollar is a tad strtonger at 96.75 up .12. 

 

Today we get a slew of data that might have the chance of moving the markets. We get retail sales, PPI, Empire Manufacturing and Total Net TIC Flows. 

 

Unless we get a shocker, it's all about tomorrow afternoon. 

 

 

 

 

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