OptionEye - Macro Outlook - May 4th
What a wonderful weather weekend we had here in Chicago. Saw a lot of guys out rolling.
This morning corn is down 1, beans are up 5 and wheat is down 4. Corn hovering here at 6 month lows.
The stock market is a little higher this morning with the S & P future up almost 5 points in early trade.
The 10 year yield is creeping to that 2.16% and is now at 2.13%. I think that it still will be difficult to raise rates but the bond market acts like they thing it is a near certainty.
Oil is up .27 cents to $59.42 and gold is up $4.21 to $1182.80.
The dollar is a little stronger at 95.54 which is up .24.
Should be a good week for more good economic information. Today we get Factory Orders but on Friday we get Non-Farm Payrolls. Buckle up.
Re: OptionEye - Macro Outlook - May 4th
The Fed could stick their big toe in the pool with a 1/4% rate hike just to see if the market would freak out. It seems that the zero % system is broken, yet working, so why "fix it"? They maybe need an excuse for another dose of QE, they won`t be able to blame "snow storms in June" if GDP growth is lackluster in the 2nd quarter.