National Futures and Financial Weekly
Copyright 1997 by Consensus, Inc.
October 17, 1997 * * 1737 McGee, Kansas City, Mo. 64108 U.S.A. * * Up Dated Daily

Financial Commentary

  • COMMODITY FUTURES FORECAST WEEKLY REPORT
    October 16, 1997 Philip Gotthelf
    Soybeans Turn Bullish Sooner Than Expected
    The Tenth Anniversary
    Subtle Aspects Of Clinton Tour

  • DEAN WITTER FUTURES COMMENTARY
    October 16, 1997 - Dean Witter, Inc
    Base Metals, Energies, Softs, Grains,

  • THE LATEST COMMITMENT OF TRADERS
    ANALYSIS FOR CURRENCY CONTRACTS
    October 16, 1997 Jack McIntyre
    Latest MCM TradeWatch COT data analysis, a review of currency futures positions as of Tuesday, October 7th, shows that large traders continue to be aggressive sellers of the yen contract. Meanwhile, they have been much better buyers of the D-mark and Swiss Franc and Canadian Dollar contracts and are currently holding net longs (in the case of both the Canadian Dollar and Swiss Franc contract they are at three-month extremes).

  • MYERS ON FUTURES
    October 17, 1997
    Palladium Update, The Grain Bull Market

  • NIKKO MARKET COMMENTS
    Robert A. Brusca - The Nikko Securities Co. International, Inc.
    Despite upward pressures from energy, tobacco, apparel, and airfares, consumer prices rose by only 0.2% in both overall and core measures in September. Compared with three months ago, overall CPI has risen at a 2.5% annualized rate; yet core CPI inflation has risen at a mere 1.7% pace.

  • SCHAEFFER'S RESEARCH REVIEW
    October 16, 1997 Investment Research Institute, Inc
    The Stock Market Of 1987 Versus 1997 - A Comparison Of Sentiment
    Applying A Sentiment Guage To The Dow Jones Industrial Average
    Sentiment Indicator, VIX, With Bollinger Bands

  • FED PRICES SLIDE BACK TO $65
    October 10, 1997 Hales Cattle Letter
    Prices Weaker Than Expected
    Beef Production And Prices
    Beef Production To Stay Heavy

  • MONEY VERSUS DEBT TWO AGGREGATES DIVERGED
    October 16, 1997 The Northern Trust Company
    CHARTS:
    Real Nonfinancial Debt Versus Real M3
    Real Nonfinancial Debt - Total, Private & Govt.
    Real GDP Growth Versus Relative Real M3 Growth

  • STOCKMARKET CYCLES
    October 10 1997 Peter Eliades
    The Cycles, Charts, Technical Indicators, Market Projections

  • WEEKLY OUTLOOK
    Prepared at University of Illinois
    *Corn And Soybeans Stage A Harvest Time Rally
    December corn futures traded to a low of $2.555 on October 2, but rebounded to a high of $2.935 on October 10. November soybeans rallied from an October 1 low of $6.20 to an October 13 high of $7.20 per bushel. Such price strength is rare for this time of year, particularly with large crops and rapid harvest progress.

  • INTEREST RATE WATCH
    Prepared by R.J. O'Brien & Associates, Inc.

    *Fundamental
    “To believe that wage pressures will not intensify as the group of people who are not working, but who would like to, rapidly diminishes, strains credibility. The law of supply and demand has not been repealed. If labor demand continues to outpace sustainable increases in supply, the question is surely when, not whether, labor costs will escalate more rapidly. The performance of the labor markets this year already suggests the U.S. economy has been on an unsustainable track.” Federal Reserve Chairman Alan Greenspan

  • THE ALLENDALE ADVISORY REPORT
    Prepared by Allendale, Inc.
    *Commodity Wrap-Up For October 10, 1997
    Shhh...don't tell anyone about your yields (corn has rallied 40 cents and beans 80 cents in the last 5 days.

  • NIKKO MARKET COMMENTS
    Prepared by The Nikko Securities Co. International, Inc.
    *First Greenspan, Then The PPI: What's Next
    Shock Of The Old
    Supply-siders, “New Paradigmers,” and other dreamers all, got a rude shock this past week. The attention- grabber was the Greenspan speech which unexpectedly unleashed a fury of pessimism about the economy.

  • THE REAPER
    Prepared by R. E. McMaster, Jr.
    *General Market Comments
    As I write this on October 9, the December Nikkei Dow has broken 17,500, and plummeted to a new low of 17,300. This means the economic/financial crisis in Japan is deepening, with all the danger's that brings to the global stock markets and financial systems.

    Copyright 1997, by Consensus Inc.  All American and Pan American rights Reserved. editor@consensus-inc.com

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