Bonds Higher - The Nemenoff Report

Financials:  As of This writing (6:30 am) Mar. Bonds are 21 higher at 168’29 and down 4’00 since my last Report on December 24, 10 Year Notes up 0’7 overnight and down 1’09 over the last 3 weeks and the 5 Year up 3 overnight at 125’23 and down13 since last “Report”. Yields have moved higher over this time with the yield curve widening as longer-dated Treasuries are gaining in yield over the shorter termed. The 2 Yr. is currently 0.14% vs. 0.12 3 weeks ago, the 5 Yr. 0.46 vs. 0.37, 10 Yr. currently 1.10 vs. 0.93, and the 30 Yr. 1.84 vs. 1.68. Yields have risen in response to perceived inflationary results of further stimuli and recovery from the COVID pandemic. These mets have reached my near term objectives and I recommend covering short biased positions. The Fed has indicated they are leaving rates alone for the next year.

Grains:  March Corn is unchanged overnight at 447’0 but up 97’0 since Dec. 24th, Beans down 7’0 at 1423’0 but up 151’0 over the same period, and March Wheat up 15’0   and 685’0 up 55’0 over the last three weeks. A bullish stocks report propelled these markets higher pushing corn above 500’0 and Beans above 1400’0 like a hot knife through butter. Use sell stops to protect long-biased positions.

Cattle:  Feb. LC closed 17 lower at 112.07 down from 114.75 since my last Report. March Feeder Cattle Closed 95 lower at 133.27 down 8.00 in the same 3 week period. We remain negative because of high feed costs and heavy marketable weights. That being said, cover short biased positions on further breaks as mkt. maybe oversold.

Silver:  Mar. Silver is currently 52 cents lower at 25.28 this is down from a recent high of 28.05. I am on the sidelines. Too volatile.

S&P:  March S&P are 13.00 lower at 3778.00 down 87.00 since December 24th.the market has a double top in 3817.00-3821.00 level. Treat as a trading affair between 3730.00 and 3810.00.

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Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone. Trading foreign exchange ...

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