Ok ppl. Libya, Japan, Yemen, Bahrain, Sovereign Debt aka pigs, QE2 ramped up, so and so on. About the only thing that the bankster's didn't have control of was the earthquake, if they did they would have organized that for a Friday evening also. Anyone want to guess how ruthless tonight's option expiry numbers will be on the paper market? JP Morgue and co, I believe will not sit back and let this happen without major intervention. The CFTC seems oblivious to the fundamentals regarding important comex dates. One would assume a fertile ground for your PM's to mature on huh!
The following is what's happening in the USA tonight, will be interesting to see the spin through the media.
Personal Income and Outlays [Report][Star]8:30 AM ET
Pending Home Sales Index [Star]10:00 AM ET
4-Week Bill Announcement [Bullet11:00 AM ET
3-Month Bill Auction [Bullet11:30 AM ET
6-Month Bill Auction [Bullet11:30 AM ET
Dennis Lockhart Speaks 12:40 PM ET
2-Yr Note Auction [Bullet1:00 PM ET
Charles Evans Speaks 4:00 PM ET
All the supposed buyers in Asia etc seem to be happy to predominantly take a cash premium (30%) and add to their positions for the following month. Backwardation in the PM market seems to be setting a clearer pattern as the months roll on.
The big question: What will Blythe Pull Out Of The Bag?
