Here’s Why The ISM Report Hurt Treasuries
The equity markets were given
a boost today, while Treasuries and the US dollar pulled back.
Equity
Equities reversed
direction out of negative territory and finished close to their highs for the
day after two judges dismissed against four major brokerage firms accused of
misleading investors. The Nasdaq
future
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Fixed Income
U.S. Treasuries were down today on a firmer showing in the ISM
prices paid category. The 10 year futures contract
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PowerRating) was
down 045 to close at 117-095; the 30 year
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was down 08 at 117-03; and the five year note was down 20 at 115-020.
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PowerRating).
Metals
July gold
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PowerRating) was slightly higher by 6.20
to close at 350.80 on the back of a weaker US dollar. Silver
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PowerRating) was up
.60 at 4.58. Copper was down .20
at 74.60
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PowerRating), and aluminum
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PowerRating) was down by .0045 to close at
.6310.
Energy
July crude
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PowerRating) was higher by .03 to
close at 30.43, and natural gas was up by .003 at 5.320
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PowerRating).
Currencies
The USD index
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PowerRating) was lower by .46 and
finished at 94.65, on lower yields.