OptionEye - Macro Outlook - May 15th
Overnight grains quiet with corn up a tad, beans up 1 to 2 and wheat giving back a little of yesterday's stellar performance. Old el nino news out of the Australian Wheat Board and bad weather here in the U. S. had the funds running for the doors.
The 10 year yield stands at 2.19% and looks to be fiinding a new home between 2.10% and 2.30%.
Oil is trading lower this morning at $58. 87 down $1.01. Gold is lower as well to $1215.47 down $5.59.
Stocks will be a tad higher as the S & P future is up just over 1 point.
We see Industrial Production today as well as Capacity Utilization.
The dollar is off its lows and stands at 93.99 up .53.
Have a great weekend.