How California Pushed Treasuries Higher
Today, financial markets
behaved similarly to the way they did in June, as equities and bonds finished in
positive territory.Â
Equity
Equities were higher
after Merrill upgraded their outlook for Microsoft and PC sales in general. Tech
stocks accounted for 1/3 of today’s gains The Nasdaq
future
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Fixed Income
U.S. Treasuries rose as California’s credit rating was put on
notice to be cut. The 10 year futures contract
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up 040 to close at 117-135; the 30 year
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was up 07 at 117-10; and the five year note was up 50 at 115-070.
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Metals
July gold
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to close at 351.60 on the back of a weaker US dollar. Silver
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5.50 at 4.635. Copper was up 1.05
at 75.65
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.6465.
Energy
July crude
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close at 30.13, and natural gas was up by .021 at 5.220
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Currencies
The USD index
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finished at 94.48., on lower yields.