Fed Comments Send Treasuries Higher

Treasuries rallied strongly, boosted by comments on inflation by the Fed’s
Lacker (full story).

The US Dollar Index gave back part of yesterday’s advance as the Dollar declined
against all the majors except for the CAD.

Gold closed lower and looks set to record its first weekly decline since March.

Crude Oil, Unleaded Gas and Heating Oil closed higher but Natural Gas fell to a
new contract low after today’s inventory data was released. The EIA reported
Natural Gas stocks rose by 91 BCF in the most recent week.

The softs were mixed, Cocoa +0.65% and Coffee +0.74% closed higher. Orange Juice
-4.48%, Sugar -3.48%, Lumber -2.26% and Cotton -1.55% closed lower.

Leading Economic Indicators Down 0.1% For March (report)

EIA – Natural Gas Up 91 BCF

Philadelphia Fed General Business May 14.4 vs. April 13.2; New Orders May 2.7
vs. April 12.2 (report)

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