Fed Minutes Send Bond Prices Lower

In today’s economic news,
Business Activity in the Chicago region expanded unexpectedly
and the May FOMC minutes were released (report).

Treasuries closed sharply lower, pushing yields back towards multi-year highs.

The US Dollar Index recovered part of yesterday’s losses, as the Dollar recorded
gains against all the majors.

Gold, Silver and Copper futures all pulled back.

June Crude Oil futures declined, along with Unleaded Gas and Heating Oil.
Natural Gas bucked the trend to close higher.

In the softs, Cocoa +0.96% and Coffee +0.20% closed higher, Sugar -2.83%, Orange
Juice -2.80%, Cotton -1.37% and Lumber -1.08% closed lower.

The grains were weak, especially Wheat which lost 4.49%.

Economic News

Chicago PMI 61.5 After 57.2 (report)

FOMC minutes released (report)

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Ashton Dorkins


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