Rhymes with delicious

June 24, 2019

–Bitcoin is up 10% this morning at 10935.  Precious metals are higher, stocks are higher, bonds are higher, the dollar is weaker.  Chicago Fed’s National Activity Index is out today.  Last was -0.45, with the three month moving average at -0.32, the lowest since Q2 2016 when bond yields were making historic lows.  Today’s CFNAI expected +0.10.

–From AP, US military cyber forces launched a strike against Iranian military computer systems in response to the drone downing.  I don’t know if it’s connected, but I was repeatedly blocked from sending out my weekend note, receiving the response, ‘blocked by recipient’s e-mail service’.  I thought it was too long, so I removed a bunch of charts, but that didn’t help.  The title was ‘Pernicious’.  Once I changed that, the email went through.  I guess it’s because Pernicious rhymes with Malicious.  I am sort of joking around here, but I have a feeling the cyber security cold war is about to move into higher gear. I had to change the title to Zombie Economy.  I guess Zombies don’t scare anyone any more.

–I marked 2/10 at a slight new high Friday just above 28.  This week the treasury auctions 2’s, 5’s and 7’s starting tomorrow. 

Posted on June 24, 2019 at 5:20 am by alexmanzara · Permalink
In: Eurodollar Options

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