Financials: Bonds are currently 5 higher at 121’27, the 10 Yr. Notes 3 higher, the 5 Yr. Notes 3 higher and the 2 Yr. Notes unchanged at 108’28. The Dec. Eurodollars are up 4 at 99.140. We remain short the June 2 Yr. Notes and the Dec. Eurodollars which are both currently at a loss. As for June Bonds, support remains in the 120’00 area and resistance at 123’20. At this time I prefer the long side of the Bonds on breaks below the 120’15 level with a protective sell stop at 119’13 level.

S&P's: June S&P’s are currently up 8.00 at 914.50. As mentioned yesterday I am looking to trade this market from the short side for a short term trade between the 914.00 and 918.00 levels. Near term support remains at the 891.00 level.