WEDNESDAY 9/16/15; S&P Cuts Japan Credit Rating; US 2-Year Yield 0.82% at 4-Year Record High; FDX; Two-Day FOMC Meeting Begins; CPI (Consumer Price Index); Migrant Crisis Turns Violent; US Stocks Rally; ORCL; MLHR

Asian traders are awake and ready for a joyous day ahead feeding off the US rally. The Nikkei Index futures are pointing to an opening gain of about +1%. Dollar/yen 120.43.

At 8:13 AM Tokyo (7:13 AM Hong Kong and Shanghai; 7:13 PM EST Tuesday evening in the States), US futures are flat. S&P +1. Dow +5. Nasdaq +1. Euro 1.1275. Dollar/yen 120.38. Pound 1.5345. USD 95.61. Aussie dollar 0.713. Dollar/yuan 6.3699.

WTIC oil 45.06. Brent oil 47.75. Natural gas 2.73. Gold 1106. Silver 14.36. Copper 2.431.

US Treasury yields are; 2-year 0.80%, 5-year 1.61%, 10-year 2.29%, 30-year 3.07%. The 2-10 spread is 149 basis points steepening slightly and the 5-30 spread is 146 bips. German bund 0.745%. The US-German 10-year spread is 155 bips. The steeper yield curve, albeit two or three bips, whipped US traders into a frenzy yesterday with the bulls buying any bank with a heartbeat.

Singapore pollution index is well over 200 which is very unhealthy air. Indonesian fires that are burning land to expand plantations are creating 













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............ other candidates begin attacking his record. Jeb Bush admits he smoked pot 40 years ago; others on stage likely have as well but do not want to admit it. Christie and Kasich plan to enforce the Federal laws concerning marijuana which would bring trouble to Colorado and other states as well as hurt medical users of pot. Marijuana is a proven positive medical treatment for epileptics, pain patients and chemo patients to help boost appetite so Christie and Kasich appear out of touch. Fiorina mentions the loss of her child years ago due to drug addiction.

The United States election for president of the United States (POTUS) is the first week of November 2016 only about 13 months away. Primary elections begin in about four months. President Obama will leave office and the new president will be sworn in January 2017 about 15 months away.