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Senior Contributor

OptionEye - Macro Outlook - Mar. 6th

Good morning. 


Overnight, grains weakened but recovered as the evening wore on. Corn down 1, beans down 1 and wheat down 2. 


Most things looked a lot worse last night but have improved coming into the opening. Oil is down .39 to $44.45 with an overnight low at $43.57.


Gold is also flatlining this morning at $1156.75 down $1.80. 


The 10 year yield is trading at 2.09% this morning and has been between 2.08% and 2.11% overnight. 


Rate hike rhetoric still front and center and has this trader kind of frustrated. 


Stocks are up this morning with the S & P future up almost 9 points this morning. 


The Euro/Dollar is at 1.0535 this morning with at generally weaker dollar at 99.88 down .44. The index opened last night above that 100 level at 100.27. 


Today we get Empire Manufacturing, Industrial Production and Capacity Utilization. Let us see if they are supportive to a rate hike scenario. 

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Senior Advisor

Manufacturing drops ......

...... for the third straight month, as does homebuilder sentiment.

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