MONDAY 3/23/15; Existing Home Sales; RUT All-Time Record High

At 4:30 AM Singapore local time (5:30 AM Tokyo local time and 4:30 PM EST Sunday evening in the States), Singapore PM Lee Hsien Loong  announces the death of his father and founding prime minister Lee Kuan Yew, 91, who served between 1959 and 1990, after a bout with illness. Australian stocks begin trading up marginally to begin the new week. Aussie dollar 0.7784.

Nikkei Index futures are indicating a higher open and another 15-year high. European and US futures are pointing higher continuing last week’s rally after Fed Chair Yellen hints that the first rate hike will not occur  until September or later when June was the original target. The Federal Reserve is more dovish and the easy money ZIRP Forever policy continues to pump stock prices higher making the wealthy, that own stocks, filthy rich.

S&P futures are up +4. Dow +40. Nasdaq +8. Euro 1.0833. Dollar/yen 120.04. US dollar index 97.824. Pound 1.4957. Aussie dollar 0.7779.

WTIC oil 46.15. Brent oil 54.83. Natty gas 2.74. Gold 1186. Silver 16.79. Copper 2.7670.

US Treasury yields are; 2-year 0.58%, 5-year 1.41%, 10-year 1.93%, 30-year 2.51%. The 2-10 spread is 135 basis points. German bund 0.179%. Japan 10-year yield 0.329%.

Asian indexes begin on an upbeat note but end mixed. The NIKK gains +1% to 19754 a new 15-year record high. Japanese exporters are strong as the dollar/yen moves above 120 (weaker yen). Drug-maker Eisai leaps +20% on encouraging results for its Alzheimer treatment. The SPASX200 drops -0.3% at 5956 teasing the 6K level not seen for seven years. The KOSPI is flat.

Asiana Airlines loses altitude 













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digital camera maker DGLY explodes +15% higher after reporting earnings and guidance. CHK bounces +3.3% on news that activist investor Carl Icahn is increasing his stake in the gas and energy company. Energy company WLL is poleaxed -12% after announcing a secondary (dilution). Other companies are offering secondary’s so the stock supply in markets is growing.

Euro 1.0959. Dollar/yen 119.62. Pound 1.4967. WTIC oil 47.43. Brent oil 55.89. Natural gas 2.742. Gold 1189. Silver 16.975. Copper 2.864.

Treasury yields are; 2-year 0.58%, 5-year 1.39%, 10-year 1.91%, 30-year 2.51%. German bund 0.218%.

In the evening US time, morning in Sydney, Australia, Fed’s Williams says a rate hike should occur within a few months and a mid-year target is likely. Aussie futures are indicating a flat open for stocks in the land down under.