The War Trade Is Starting To Unwind…Are You Participating?
The first leg of the war trade
continues, albeit at a more moderate pace. Energy and bonds finished lower
while equities and the US dollar inched higher.
Equities
Again, the Tech sector led the rise and the
Nasdaq June contract
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contract
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Fixed Income
Treasuries continued their decline today; as the
10-year contract
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0-145 to close at 112-20
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Metals
The industrial metals gave back some of
yesterday’s gains. Copper futures finished down .70 to finish at 76.45
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PowerRating). Gold inched up for a third day in a row, finishing up a slight
.50, to finish at 337.7
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up 1.3 to finish at 446.3.
Energy
Energy was lower across the board, as the near
month crude oil contract fell by 3.26% to close at 31.67
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PowerRating). Natural
gas gave in today and fell by 3.09% to close at 5.339
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PowerRating) .
Currencies
The US dollar continues posted modest gains
against the European currencies and the yen. However, the greenback gave back
some of yesterday’s gains against the commodity currencies, such as the
Australian and Canadian dollars. Overall, the USD index
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up .09 to finish at 101.40.