Unleaded Gas Continues To Climb
The week came to a close with
the University of Michigan Consumer Sentiment Index,
which declined, and the ISM Non-Manufacturing Index — which showed activity in
the service sector expanded at a faster rate than forecast
(report).
The ISM report helped send treasuries lower, pushing yields on the 10yr, 5yr and
2yr T-Note to multi-year highs.
The US Dollar regained some of yesterday’s
losses, closing higher versus all the majors except for the Swiss Franc. The Yen
was today’s weakest currency after comments made by Japan’s finance minister.
All the energies closed higher. Unleaded Gas jumped nearly 3%, while Crude Oil,
Heating Oil and Natural Gas rose almost 0.50%. Natural Gas continues to languish
near contract lows while the other three contracts have been moving higher of
late.
Sugar (+2.07%) and Coffee (+1.82%) led the softs higher, with Cotton (-1.05%)
the only decliner in the group.
All the grains rose, except for Soybean Meal (-0.62%). The meats were weak.
In the metals, Gold and Copper fell, while Silver rose.
University Of Michigan Consumer Sentiment Index At 86.7 In Feb.
ISM Non-Manufacturing Index At 60.1 For Feb. (report).
Ashton Dorkins
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