OptionEye Macro Outlook May 15th
Could it really be that May is already half over? Time does really fly.
Overnight sees corn down 1, beans up 2 and wheat down 4.
The 10 year yield sits at 2.33% and continues to drift ever so slightly lower. It really feels like it is trying to tell us something. Maybe the economy isn't as strong as we would like to think.
The stock market will open a little higher this morning with the S&P future up 2.50 points and the Dow future is up 37 points.
The dollar is a little easier at 98.88 down .27.
The oil market making a little bit of a comeback and trades at $49.19 up $1.35. Gold is up as well at $1231.64 up $3.52.
Today we get Empire Manufacturing, the NAHB Housing Market Index, Total Net TIC Flows and Net Long-term TIC Flows.