Markets

The Nemenoff Report - Bonds Higher, S&P's higher, Silver Higher

Financials: Mar. Bonds are currently 17 higher at 144'22 and the 10 Yr. Note 7 higher at 130'30. If you remain short the Mar. Bonds from the 143'18 level continue to use a protective buy stop at 145'07. We continue to hold the long 5 Yr. Note/ short 10 Yr. Note spread which is currently at 7'22 premium the 10 Yr. Note.

Grains: Yesterday Jan. Beans closed 11 cents higher, Mar. Corn 1 lower and Mar. Wheat 1 lower. Over night Beans were 5 higher, Corn 1 higher and Wheat 2 higher. We remain on the sidelines. Long hedgers in Corn such as livestock producers should take note of hedging opportunies due to recent price declines.

Cattle: Yesterday Feb. LC closed 37 higher at 119.15 and Jan FC 22 higher at 143.97. I remain on the sidelines.

Silver: Mar. Silver is currently 20 cents higher at 29.48. Frb. Gold is currently 11.00 higher at 1588.00. Gold has held the 1560.00 support level.

S&P's: Mar. S&P's are currently 6.00 higher at 1218.00. Support is currently 1210.00 and resistance 1228.00. My bias is to the long side of the market on breaks.

Currencies: As of this writing the Mar. Euro is 11 higher at 1.3036, the Swiss 24 higher at 1.0679, the Yen 8 higher at 1.2873 and the Pound 2 higher at 1.5491. We remain long out of the money puts in the Yen and long the Jan.1.200 put in the Euro.

Regards, Marc

888.908.4310 | 312.264.4310

mnemenoff@pricegroup.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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