Market Analysis

Today is an important day for bonds.  The US 10 Year Treasury note had dipped on a closing basis to 3.22 on March 16 on concerns about the Japanese disaster and then moved up to a short term trading rates between 3.40% and 3.50% between March 24 and April 5.  Today the 10 Year is testing the 3.50% level.

With the economic calendar vacant, commodity inflation is taking center stage.  Gold hit $1,461 an ounce, a new record.  Silver, at $39.62 an ounce hit a 31 year high.  Crude Oil continues to trade at over $108 per barrel and Corn hit a record of $7.7075 a bushel.