MONDAY 9/21/15; LEN; Existing Home Sales; Biotech Stocks Beaten; RHT

Japan markets are closed early this week due to the Respect for the Aged Day holiday that is always the third Monday in September. Australian and Korea stocks are headed for a soft open. At 8 AM Tokyo time (7 PM Sunday evening in the States), US futures begin the week on the negative side. S&P -2. Dow -20. Nasdaq -6.

Euro 1.1296. The euro was above 1.14 on Friday. Euro/yen 135.56. Dollar/yen 120.01. Pound 1.5522. Aussie dollar 0.7190. Mexican peso 16.6233. Canadian dollar 1.3215. Dollar/yuan 6.3643.

WTIC oil 44.83. Brent oil 47.57. Natural gas is 2.58 under the 2.60 level. Natty demand drifts lower as households do not need air conditioning with the cooler Fall weather approaching in the northern hemisphere while it is not yet cold enough to require heating. Gold 1138. Silver 15.15. Copper is down -0.6% to 2.3725.

US Treasury yields are; 2-year 0.68%, 5-year 1.44%, 10-year 2.13%, 30-year 2.94%. The 2-10 spread is 145 bips.

Scott Morrison is named the 























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Republican presidential candidate Scott Walker, Governor of Wisconsin, drops out of the GOP race. Walker faded in the polls viewed as a one-trick pony on a platform that fought the unions; he has no gravitas or charisma.

Pope Francis travels to the United States from Cuba tomorrow. US law enforcement are already on the lookout for terrorists and other criminals that are wearing uniforms impersonating officers and other security personnel. Intelligence reports warn that the terrorists are adopting this technique of wearing uniforms to gain access to crowded places to carry out nefarious deeds. US authorities are focused on this threat and preparations are in place.