This Is What Boosted Treasuries Today
Stocks had a back and forth
session today but managed to eke out modest gains, while Treasuries started off
strong overnight and continued as such for the entire day.
Equities
Equities posted modest gains despite an
announcement by the SEC that it is investigating some of IBM’s accounting
practices. Semiconductor and healthcare stocks were the bigger gainers for the
day. The Nasdaq future
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up 1.70 to finish at 973.90,
and the Dow
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Fixed Income
Treasuries began the overnight session with a
firm tone, after the IBM news, and were further helped by Alan Greenspan’s
comments about deflation. The 10 year futures contract
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was up 1-04 at 120-22; and the five year note was up 160 at 116-215
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Metals
July gold
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366.00;
silver
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and aluminum
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Energy
July crude was down .02 cents to close at 30.65
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And natural gas was up by .011 to
close at 6.371
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Currencies
The dollar was higher against the euro after the
European Central Bank head signaled that a rate cut is imminent, thus lowering
the interest rate differential they currently enjoy over the US The USD index
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up by .10 and
finished at 93.56.