Have Bonds Hit The Bottom?
A weaker-than-expected durable goods order boosted T-bonds [USZ9>USZ9]. The December contract rose 20/32 to 111 15/32 and finished on their high of the day, presenting a slightly positive technical pattern a day before gross domestic product and employment cost index data. Bonds hit a contract low two days ago.
Stock index futures spiced up an otherwise lackluster day with a last-hour rally. December Dow futures [DJZ9>DJZ9] rose 147 to 10,457.0, S&P futures [SPZ9>SPZ9] gained 19.90 to 1305.50 and NASDAQ 100 futures [NDZ9>NDZ9] squeezed out a gain of 2.00 to 2478.00
In the currencies, both contracts from the Momentum-5 List rose to 20-day highs: December dollar index futures [DXZ9>DXZ9] gained .53 to 99.15 and the Japanese yen [JYZ9>JYZ9] rose .0028 to .9648. Going the other way and registering on the Implosion-5 List,
Swiss francs [SFZ9>SFZ9] fell .0050 to .6599 and British pounds [BPZ9>BPZ9] lost .0088 to 1.6446.
The energies ended mixed. December crude [CLZ9>CLZ9] fell .27 to 22.92 while heating oil [HOZ9>HOZ9] rose .0025 and natural gas [NGZ9>NGZ9] rallied .075 to 3.223.
December gold [GCZ9>GCZ9] arrested a two-week decline, gaining 3.8 to 294.2.
The grains handed in a narrow and mixed performance.
November soybeans [SF0>SF0] showed the biggest movement, gaining 3 to 482.
In the meats, December lean hogs [LHZ9>LHZ9] fell 1.850 to 46.400 and February pork bellies [PBG0>PBG0] fell 2.325 to 62.025. Livestock contracts continued slumping and fell to two-month lows.
December cocoa [CCZ9>CCZ9], from the Implosion-5 List, notched out a new life-of-contract low and ended down 9 on the day at 867. December cotton [CTZ9>CTZ9] fell .60 to 53.43.