Morning 9-23

 A bit Of Virus News…

  • Johnson & Johnson to test single-shot coronavirus vaccine on 60,000 people in phase-3 trials … Pharmaceutical giant Johnson & Johnson (J&J) has begun the phase-three trials of its single-shot coronavirus vaccine candidate -BBG
  • Goldman, HSBC Halt U.K. return to office   BBG
  • Wisconsin added to Illinois travel order of 14-day quarantine
  • 27 states have shown an increase in the 7-day average of new confirmed cases since Labor Day BBG

Chart of the day 10-year treasury yields weekly close only chart, for 6 months yields contains in 20 bps range .77 to .54 its just crazy

 Dollar sideways to higher this morning, DXY closed above top of the range let’s see if this gives the bulls the upper hand in the short term. Not helping the Euro …The IHS Markit Eurozone Composite PMI decreased to 50.1 in September from 51.9 in August, below forecasts of 51.7. The reading points to a near stalling of the economy as rising coronavirus infections and ongoing social distancing measures curbed demand, notably for consumer-facing services (Trading Economics) even though the manufacturing PMI was reported a bit better then consensus…… More positive Dollar news “The USD also gained some further ground against many emerging market currencies yesterday, rising by over 1% against the Brazilian real and almost 2% against the Mexican peso. For now, at least, those moves have only reversed part of the prior gains the EM currencies made in August. (macro markets daily) Dollar higher again today against both of these.  Per Mizuho the gap between spot and front Month VIx is at that widest since 2012 Stocks a bit higher, metals lower copper gold and Silver. Lumber Limit Bid premarket watch dollar

News:

  • No govt shutdown as Congress passes a stopgap funding bill
  • A total of 29 Wild boars have the pig Virus but no domestic pigs
  • China’s imports of pork in August doubled from a year ago to 350,000 tons, but the imports slowed from the previous month’s record of 430,000 tons, according to customs data

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