SubscribeDaily Futures Commentary FINANCIALS 030309
Tuesday, March 3, 2009
FINANCIALS
March Treasury Bonds and March Treasury Notes are selling off overnight as fears of a meltdown in the U.S. equity markets have been lifted. The world is expecting higher interest rates but as long as traders buy treasuries for safety and liquidity look for a choppy two-sided market.
EQUITIES
Equity markets are trading higher overnight. Traders seem to have absorbed the bad news regarding AIG and are now focusing on the prospect of better times ahead.
Traders are now looking for good news from the government regarding the creation of a “toxic asset” bank. If the President can do a good job presenting this idea then the market will likely rally. All investors want is clarity and conviction in any plan.
The market wants action from this administration. Investors are hoping the President starts governing instead of campaigning. Look for the March S&P to rally toward 724.75 this morning before news selling pressure steps in.
CURRENCIES
The U.S. Dollar is weaker overnight as …
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