Risk Off but bonds dont care

A very Strong philly fed survey from this morning has limited impact, some stats from release:

Philadelphia Fed Jul Price Received 9.5 Vs Jun 0.6 *Philadelphia Fed Jul Price Paid 16.1 Vs Jun 12.9 *Philadelphia Fed Jul Shipments 24.9 Vs Jun 16.6 *Philadelphia Fed Jul Inventories 8.1 Vs Jun 2.4 *Philadelphia Fed Jul Business Index 21.8 Vs Jun 0.3 *Philadelphia Fed Jul Business Index Expected 3.9 – Bloomberg

Crude Oil puking ,less demand ,global slowdown worries, Russia production increasing,Shale production increasing per EIA report on Monday,Pit only Charts crude into a gap pick what you like. CL -3.3% Down $5 in 3 days,gasoline -3%U.S. Senators proposing a bill to Block huawei from buying U,S. patients Nasdaq only -30 handles and SOX still green,Alrighty then.Bonds barely moving ,EDZ9 & EDZ0 also barley moving Indicating I guess that markets are not too concerned.grains trading heavy as Disappointing export sales and Cooler weather pressure corn to 1 week lows down 40 ticks. I would have though some Inverse correlation between oil and bonds would take hold but obviously not. Silver +1.3% and Gold up a touch.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.