Financials: Mar. Bonds are currently 10 higher at 144'21 and the 10 Yr. Note 4 higher at 132'03. Yields are still hovering just below 3.0% on the Bonds and just below 1.9% on the 10 Yr. Note. As I have mentioned over the past few months, I do not want to trade the Bonds or 10 Yr. Note from the long side with yields below 3.0% and 2.0% respectively. I still find resistance in the Bonds in the 145'16-146'16 levels and look for short term trades from the short side of the market at these levels. This morning, Initial Jobless Claims were down 12K vs. expectations for a drop of 7K. Non-farm productivity was up 0.7% as expected. We remain spread long Mar. 5 Yr. Notes/ short Mar. 10 Yr. Notes at 7'23 premium the 10 Yr. Notes in anticipation that the spread will narrow. This spread is currently at 8'01 premium the 10 Yr. The market awaits tomorrow's monthly Unemployment Report.

Grains: In overnight trade Mar. Beans were 8'2 lower at 1207'0, Mar. Corn 6'2 lower at 635'6 and Mar. Wheat 9'6 lower at 664'4. Mar. Corn has found resistance at the 650,0 level as evidenced from yesterday's set back off the high made at 650'0. I remain long term bullish on Mar. Corn but have recently taken profits from long positions. I will be looking to reinstate long positions on Mar. futures on a break below the 623'0 level. I would also recommend calls and/or call spreads for May expiration on breaks. Cattle: Apr. LC are currently 50 lower at 128.00 and Mar. FC 50 lower at 155.30. Over the last few sessions I have been stopped out of recent short speculative positions. That being said, I still prefer the short side of these markets. Hedgers should take note of recent price advances for pricing opportunities.

Silver: Mar. Silver is currently 14 cents lower at 33.63 and Apr. Gold 1.00 lower at 1748.00. I feel that both of these markets are approaching long term resistance and feel that if you are long either futures or call options you should be looking for profit taking opportunities. Personally, I am on the sidelines.

S&P's: Mar. S&P's are currently 1.50 higher at 1321.25. Treat as a trading market between 1314.00 and 1324.50.

Currencies: As of this writing the Mar. Euro is currently 30 lower at 1.3128, the Swiss 21 lower at 1.09077, the Yen 17 higher at 1.3142 and the Pound 11 lower at 1.5818. The market awaits determination on Greek debt. We remain long out of the money puts. For those of you keeping track: I remain long a Mar. mini-Natural Gas as a long term position with the intention of rolling it into the Apr. contract at the appropriate time. I am currently losing about $1500.00 Regards, Marc 888.908.4310 | 312.264.4310 mnemenoff@pricegroup.com