October 2019 Editors Comments

Tuesday, 03 September 2019 16:16 Melissa Moore
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Special Historical Reports

MRCI publishes a new round of volumes in its series of special reports each year.

Hottest off the press:

2019 Historical Interest Rates

This 206-page volume contains seasonal analysis of US debt instrument futures for 30-yr bonds, 10-/5-/2-yr Treasuries, and Eurodollars along with instruments from LIFFE, EUREX, SGX, SFE international exchanges; complete with 186 seasonal and spread strategies.

Recently published:

2019 Historical Forex

This 236-page volume contains seasonal analysis of AD, BP, CD, USD, EU, JY, MP, NZ, and SF futures; seasonal patterns for each delivery month and intermarket spreads; includes 236 seasonal and spread strategies.


CRB & Physical Commodities

Ugh!  After closing July at 178.53, the CRB gapped a full point lower on the first trading day of August and remained lower all month.  In fact, the high was made on that first day at 177.50.

It then made its low at 167.89, bounced, fell back but made a slightly higher low at 167.64, and then closed the month softly at 170.36.

And all this with gold, silver, and platinum breaking out to new multi-year highs!  Are they now in new major bull markets?  If so, what does that portend?

But crude oil, its products, natural gas, grains, and most of the softs markets remain in either bear markets or else trading, at best, sideways.

Now what?  Are bonds in a bubble?  Will the yield curve fully invert?  Will US rates be cut again and again?  There are even some analysts who believe the the FOMC may eventually be forced to join other central banks with negative rates!

The stock market and economy look wobbly.  The ISM dropped to 49.1% (indicating US manufacturing shrank) in August.  Will unemployment start to rise?  The US dollar has continued to rise.  But for how long?

Maybe we better be ready to ...


Trade 'em,


Jerry Toepke

Last Updated on Tuesday, 03 September 2019 16:35