Wednesday | March 10, 2010

Bond yields are higher in late day trading, with stocks and commodities mixed.

Domestically, the IBD/TIPP Economic Optimism Index for March fell 1.4 to 45.4.  This is the lowest reading in 12 months.  A reading below 50 indicates pessimism.  From a global perspective, the Bloomberg Global Confidence Index fell for the second month in a row.  The index dropped from 54.9 to 53.8 in February, still well above the 50 optimism line.

In other news, the January Wholesale Inventories number fell -0.25 vs. +0.2% expected and -1.0% prior.  The MBA Mortgage Applications Index rose +0.5% vs. +14.6% last week.

Treasury yields at 3:50 a.m. EST were as follows:  2-year note .90%; 5-year note 2.37%, 10-year note 3.71%, and the 30-year bond 4.68%.