European Banker’s Inflation Comments Cut T-bonds
The head of the European Central Bank said Europe’s economy is rising and so are the risks for inflation. His comments served as a reminder to bond traders that the Federal Reserve may still raise interest rates before the end of the year and December T-bonds fell to a life-of-contract low. T-bonds also registered on the Momentum-5 List.
Stock indexes, from the New 10-Day Low List, are falling led lower by financial issues which are dropping along with bonds and after a big run-up last week.
From the Momentum-5 List, energies are higher and lean hogs are trading at a 20-day high.
Soybeans are trading at their Turtle Soup Plus One Buy trigger point.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•December T-bonds [USZ9>USZ9]: -16/32 to 110 15/16
• December S&Ps [SPZ9>SPZ9]: -11.20 to 1296.00
• December Dow futures [DJZ9>DJZ9]: -97 to 10,395
• December NASDAQ 100 futures [NDZ9>NDZ9]: -9.50 to 2487.00
Currencies
•December dollar index futures [DXZ9>DXZ9]: -.16 to 98.15
•December Japanese yen futures [JYZ9>JYZ9]: +.0057 to .9562
•December British pounds [BPZ9>BPZ9]: +.0062 to 1.6634
Energies•December crude [CLZ9>CLZ9]: +.22 to 23.67
•December unleaded gas [HUZ9>HUZ9]: +.0069 to.6545
•December heating oil [HOZ9>HOZ9]: +.0025 to .6175
Metals•December gold [GCZ9>GCZ9]: -3.0 to 300.3
•December copper [HGZ9>HGZ9]: -1.00 to 80.75
Grains•November soybeans [SX9>SX9]: +3 3/4 to 476 1/2
Meats•December lean hogs [LHZ9>LHZ9]: +.350 to 49.600
Softs and Fibers•December cocoa [CCZ9>CCZ9]: -17 to 875
•December coffee [KCZ9>KCZ9]: +2.10 to 95.00