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Senior Contributor

OptionEye Morning Market Macro Outlook - April 16th

Good morning.


Statistical noise. Lost its way. Irrational. Any one of those could describe the equity markets as of late. today we continue with yesterday's up move. BofA reported earnings and they were OK. So, dow up 80 and here we go again? We shall see.


Corn unchanged after a relatively quiet day yesterday. It was the wheat and bean show all day long. Wheat continues its rally as the tensions abroad and weather here provide a two pronged approach to a rally. Beans got a boost yesterday from NOPA and today are on fire again, up 18 cents.


Oil too is spiking again, up $1.01 to $104.76. Gold is relativeyly unchanged at $1303.18 up .54 cents.


The 10 year yield is rallying up to yesterday's levels at 2.644% The dollar is slightly easier at 79.69 down .10.


Getting thinner in holiday trade. Tomorrow will be worse.

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