Tuesday

Japan debt breaking with an unusual spike in long term rates and that is spilling over to our bonds, and really to the global debt structure.  Bonds Tuesday off a point and 6 tics, 114.08.  I couldn't put my finger on why we just couldn't rally our bonds, but the global picture is the problem, and I wonder if Trump wants to weaken our dollar to benefit domestic manufacturing and our exports in general.  This is a tidal shift as we have executed strong dollar policies my entire life.  Dow off 881 points on fear of what Trump says in Davos.  48,666.  Corn leaks a penny, 423 3/4 and wheat drops 7 3/4 to 510 1/4.  I find the wheat action odd in front of the icy weather called for.  Beans off 4 3/4 to 1053 and rice gets a 9-cent pop, 1069.  The short wants out of rice.