Why Tomorrow Is A Big Day For Treasuries
Stocks finished off their
highs for the day, while Treasuries closed lower.
Equity
The US stock market surged higher at the open
today as a result of favorable earnings releases from B of A and Citigroup and
Merrill’s upgrade of Intel Corp. sprang to life without any
major catalyst. The Nasdaq
future
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Fixed Income
U.S. Treasuries finished the day close to the lows, as
participants squared up positions ahead of Greenspan’s testimony tomorrow . The 10 year futures contract
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down 195 to close at 116-140; the 30 year
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was down 1-08 at 114-22; and the five year note was up 125 at 114-220.
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Metals
August gold
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a stronger US dollar and closed at
347.20. Silver
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down 1.00
at 79.80
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.6630.
Energy
August crude
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close at 31.20. Natural gas was up by .038 at 5.14
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Currencies
The USD index
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at 96.40 as a result of higher US yields..