Here’s What Sent Treasuries Higher Today
US stocks were lower today in
the lower than expected (though positive) Philly Fed survey while Treasuries
were given a boost by the lower than expected reading on the prices paid
component of the same survey. Â
Equity
Biotech, I-banking, pharmaceutical, industrial
conglomerate and communications equipment stocks led declines, whereas, oil and
gas exploration, equipment and drilling stocks were among the day’s few winners. The Nasdaq future
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down 22.50 to close at 1227.00. The S&P 500 contract
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16.10, at 992.90,
and the Dow
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Fixed Income
U.S. Treasuries were were higher as the price component of the
Philly Fed number showed a bigger than expected price decline, reigniting
deflation fears. The 10 year futures contract
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up 0755 to close at 118-155; the 30 year
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was down -06 at 119-06; and the five year note was up -85 at 115-275
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Metals
July gold
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unchanged at 4.57. Copper was down by .10 at 78.05
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down by .0015 to close at .6555.
Energy
July crude
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30.16, and natural gas, was up by .411 at 5.940
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Currencies
The USD index
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finished at 93.65.