2026-01-13 18:11:00
Pres. Trump is speaking and with so many balls in the air, his comments are of market interest.
- Says we have a bad Fed Chair.
- Will pick a new Fed Chair in the next few weeks.
On Iran:
- When asked about hell on the way to Iran, says you are going to find out.
- He says it is a good idea if Americans about away from Iran.
- Says Canada wants a USMCA Trump says we don’t need it. (of course it was an agreement he made with Canada)
Crude oil prices are higher. The current price is trading at $61.19. That is up about $1.70 or 2.82%
In other news,
The US treasury auctioned off $22 billion of 30 year bonds
The auction was met with strong demand:
- WI level at the time of the auction was 4.833%.
- High-yield came in at 4.825%
- Tail -0.8 basis points versus 6 month average of +0.5 basis points
- Bid to cover 2.42x vs 6 month average 2.34X
- Directs 21.3% vs 6 month average of 23.9%
- Indirects 66.77% versus 6 month average of 63.7%
- Dealers 11.9% versus 6 month average of 12.4%.
A look around other markets shows the major stock indices are lower. Yesterday the down S&P closed at record levels.
- Dow industrial average -0.78%
- S&P index -0.37%
- NASDAQ index -0.21%
Yields are moving lower helped by the strong auction:
- 2-year yield 3.524%, -2.3 basis points
- 5 year yield 3.737%, -2.9 basis points
- 10 year yield 4.167%, -2.0 basis points
- 30 year yield 4.828%, -1.2 basis points
