Daily Market Intelligence 6/2/21

It’s summertime and we’re seeing markets slow down as investors choose outside vs. the screen.

Unless I see something compelling I’ll use the short form.

Things should pick up later in the week into next.

Brazil and Mexico look great.

Grains got a big bid from drought and China fining food business for waste.

Cattle puked early on the expectation of ranchers forced to sell herds due to drought.

The back months Cattle caught a bid after the initial puke.

Corn looks better than the Beans or Wheat which both rallied to resistance.

NXPI & CME sold off.

AMZN held its 200 DMA.

The top chart is Spoo vs the 30 Yr. Yield.

Andrew had the idea and Yra, Stan and I pursued the train of thought.

It’s a very different look than the traditional spread we use. Note there is no new high since 2000.

We spent some time mulling it over. it’s definitely another tool worth having.

Spoo & Nasd are stuck.
Spoo will require a 4187.50 print for any back and fill.

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