Spoos have a 7 handles range since 8:30 Cash open ,currently sitting sit 2 Ticks off the highs.Energy related companies the worst performers and utilities and real estate sector your best.Hmmmm..These sectors perform well when rate expectations move lower.BB telling us that “eurodollar calls richer then puts for first time since may” and “the 1m risk reversal went positive for first time in 5 months”.Less of a play for higher rates? or Month end adjustments? Rate hike probabilities for December little changed at 71% subsequent months also show little change .Dollar is higher today but stuck in the 98 handle.To really shake things up we need to see the dollar challenge the 100 handle until then just noise.Too much event risk on horizon to get excited about today.
This past weekend Europe “fell back” with her clock so european market will close an hour later then normal.
Oil at a 1 month low.CFTC data did show a reduction in Net Longs so some of weakness can be explained by long liquidation.Today is the last day to trade November Rbob and HO. Nat Gas continues to trade lower as weather forecast still are absent of any lasting cold weather.
10’s have an 8 tick range 30’s 13 ticks since option pits opened.
peso still trading higher so Clinton fall out over done?