SubscribeDaily Futures Commentary FINANCIALS 030509
Thursday, March 5, 2009
OVERVIEW
Two stories dominate the news this morning. Yesterday equity markets and commodity markets celebrated the possibility of a new stimulus plan from China, today all of those gains will likely be given back as China expressed doubt that a new stimulus plan was necessary. The second story putting pressure on the equity markets overnight is the possibility of GM going bankrupt.
Financials: Look for higher markets this morning in another flight-to-quality rally.
Equities: News that GM may have to declare bankruptcy is shaking things up.
Currencies: U.S. Dollar regains its luster as a safe haven during financial uncertainty.
Energies: Fears that the global recession will limit demand is driving prices lower.
Metals: Renewed interest in gold as a safe haven asset has this market higher.
Grains: Bearish equity markets likely to pressure grain commodities.
Softs: Stronger U.S. Dollar likely to continue to curtail demand for softs.
FINANCIALS
Investors and speculators are once again buying Treasury markets this morning because of the weakness in global equity markets. News that China may not have a second …
Read More …
Loading ...
