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TAURUS COMMODITIES
133 W. Boscawen Street, Winchester, Virginia
(October 3, 1997) FINANCIAL INSTRUMENTS: EURODOLLARS–Our little old Eurodollar trade is chugging along nicely, considering the somewhat limited potential in this particular market. Prices do not have to move too much higher before we can go to a tighter trailing stop, for sooner or later the Fed is going to act and this market will once again then turn to the downside.
BONDS–If there are no unpleasant surprises in the U.S. Employment report due out later this morning, we may well see an upside explosion in this and the other financial markets. The rally seems to be feeding on itself and is gaining momentum from the Federal Reserve holding interest rates unchanged this past week.
NOTES–A similar situation here as for bonds as the economic news so far this week has been well within trade expectations and helped prices build on a firming tone that began overseas as Japanese 10-year interest rates continued to push to new lows. The continuing economic growth so far seems relatively immune from the threat of inflation.
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