Plenty of Movement

Hard to categorize the trade this morning with one broad stroke.Spoos higher,Bonds higher,September Rbob +26 handles, Oil higher ,Dollar steady and Euro lower.Markets have rallied ,Sold off,  chopped around for no apparent reasons.Crude oil and Brent trading higher by 3%  which is exact opposite of early this week as gasoline traded higher and Oil moved lower.Crack spreads are still higher so some  fears of gasoline shortages  due to  the Motiva Refinery  in texas ,the countries largest shut down till Sunday and The biggest gasoline pipeline running low on product to ship  so shutting down a portion of it.Natural gas catching a bid  and grains spiking /rotating higher  all basically done without  a specific or one macro headline to drive action.Month end activity in thin markets  ? Sure I can buy that.

10 and 30 year yields  Approaching June lows   Trend has been down so lets hope for strong Wage growth in tomorrows number.

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