Dow rolled over and never looked reasonable all day Tuesday as financials looked skittish all around the globe, with US ultimately off 568 points, 34,175. Still a fair amount over last weeks lows, but the rainbows and unicorns sure didn't stay around for too long. Bonds off another point and 12 tics as well, and that is what really concerns me. Powell came out with a weak statement about how we had way too much unemployment to raise rates. I guess when you eat with the elites, you don't realize how much help wanted exists at the local diner or Mickey D. If you are unemployed near the bottom of the food-chain today, its because of low motivation, not low interest rates. Wheat off 15 3/4 to 706 1/2, and that just doesn't make any sense with a known bull report on the 30th. Canary in the coal mine? Beans off 10 1/2 to 1277, corn falls 7 cents, 532 1/2, and rice hits the $14 wall again and fades to 1393, down 6 1/2.
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