Treasury bond futures have been in a downtrend for much of the year.Bearish factors have included concerns about the size of the US budget deficit, inflation concerns, and a growing belief in an economic recovery in 2H 09.Friday...
Read MoreThe Dollar is down sharply this morning as risk appetite improves.There’s really not much fundamental behind the move.Technically, the Dollar Index and many currencies had breakout setups today.There’s no important...
Read MoreStocks are lower on profit taking; there’s no economic news due today.Quarterly refunding is this week; 3 year, 10 year, and 30 year on Tuesday through Thursday.The Fed’s Beige book is out tomorrow, and there’s...
Read MoreThe flip side of the commodity rally has been the decline in the US Dollar, which has declined a bit over 12% from its March high (based on the Dollar Index, DXY) .A major reason given for this correlation has been the idea that...
Read MoreThe commodity bulls took a breather yesterday as corrected recent big moves.The correction set up some good buying opportunities today; that’s what I was getting at with all the “momentum buy days” I had in...
Read MoreJobless claims came in about as expected; continuing claims fell by more than expected.The continuing claims piece is good news.A week does not a trend make, but it could be a sign that the labor market is starting to bottom.The...
Read MoreThe ADP employment report showed a drop of 532K for May; this was probably worse than expected.The ISM services number is out at 9 AM, Bernanke also begins testimony to the House Budget Committee then.The crude inventory report...
Read MoreTreasuries have been in a step decline for the past two weeks.This action has formed a flat bottomed triangle as they found support in the mid 114 area.Let’s look at the past couple day’s action, and take a peek at...
Read MoreMarkets are quiet this morning; digesting the recent big moves.Financial stocks are a bit lower; a big Middle Eastern investor is selling a part of their stake in Barclays Bank.Pending home sales are out at 9 AM, and the rest of...
Read MoreStocks are sharply higher.There were some good reports from China and Europe.The resolution of the GM bankruptcy is also helping as it’s a done deal now.The ISM manufacturing report is out at 9 AM.It’s estimated to...
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