Strong Retail Numbers Spur Bond Selling
Despite Consumer Price Index (CPI) data showing practically no inflation last month, T-bonds are taking their biggest tumble in weeks. Stronger-than-expected retail sales figures have traders worried that the Fed may raise interest rates to cool down the hot economy, and bond prices for the March contract are down more than 1%.
The mix of low inflation and a strong economy is boosting dollar index futures (from the Momentum-5
and Pullback Off Highs lists). British pounds are posting the largest losses in opposition to the dollar and yen and Swiss francs are lower as well.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•March T-bonds [USH0>USH0]: -1 4/32 to 93 6/32
•March S&Ps [SPH0>SPH0]: -6.5 to 1430.00
•March Dow futures [DJH0>DJH0]: -20.0 to 11,326.0
•March NASDAQ 100 futures [NDH0>NDH0]: -26.00 to 3261.00
Currencies
•March dollar index futures [DXH0>DXH0]: +.80 to 102.04
• March Japanese yen futures [JYH0>JYH0]: -.0030 to .9805
•March Swiss francs [SFH0>SFH0]: -.0056 to .6345
•March British pounds [BPH0>BPH0]: -.0124 to 1.6130
Energies•January crude [CLF0>CLF0]: +.10 to 25.48
•January unleaded gas [HUF0>HUF0]: -.0023 to .6925
•January heating oil [HOF0>HOF0]: +.0048 to .6510
Metals•March silver [SIH0>SIH0]: +7.2 to 523.5
Grains•March wheat [WH0>WH0]: +1 1/2 to 239 1/4
Meats•January live cattle [LCF0>LCF0]: +.325 to 68.700
Softs and Fibers•March cocoa [CCH0>CCH0]: +6 to 845
•March coffee [KCH0>KCH0]: -3.25 to 121.10