MARKET COMMENTS,Thursday, June 13th, 2013

June E-mini S&Ps (ESM13 -0.31%) this morning are down -4.00 point(-0.25%). The S&P 500 index on Wednesday closed lower as concerns about when the Fed will begin to taper its bond purchases offset signs of global growth. Stocks were supported early after Eurozone Apr industrial output unexpectedly rose +0.4% m/m, stronger than expectations of unch, and after the BOJ raised their assessment of the Japanese economy in May for the sixth consecutive month. Closes: S&P 500 -0.84%, Dow Jones -0.84%, Nasdaq 100 -1.14%.

September 10-year T-notes (ZNU13 +0.27%) this morning are up +12 ticks. Sep 10-year T-note futures prices Wednesday closed lower. Supply pressures weighed on T-notes Wednesday as the Treasury auctions $66 billion of T-notes and bonds this week. Declines were limited after weak stocks fueled safe-haven demand for Treasuries. Slack demand for the Treasury's $21 billion 10-year T-note auction was another negative for T-note prices as the bid-to-cover ratio for the auction was 2.53, the lowest in 10-months and weaker than the 12-auction average of 2.92. Closes: TYU3 -7.0, FVU3 -4.50.

The dollar index (DXY00 -0.19%) this morning is down -0.187 (-0.23%) at a new 3-1/2 month low. EUR/USD (^EURUSD) is down -0.0007 (-0.05%) and USD/JPY (^USDJPY) is -1.76 (-1.83%) at a 2-1/4 month low. The dollar index on Wednesday slipped to a 3-1/2 month low and closed lower. EUR/USD climbed to a 3-1/2 month high after Eurozone Apr industrial production unexpectedly rose +0.4% m/m, stronger than expectations of unch. Closes: Dollar index -0.166 (-0.20%), EUR/USD +0.00495 (+0.37%), USD/JPY -0.005 (-0.01%).

July WTI crude oil (CLN13 -0.56%) this morning is down -26 cents (-0.27%) and July gasoline (RBN13 +0.06%) is up +0.0032 (+0.11%). July crude oil and gasoline Wednesday closed mixed. July crude posted a 3-week high after the dollar index slumped to a 3-1/2 month low, but fell back from its best level after weekly EIA crude stockpiles unexpectedly climbed +2.523 million bbl, more than expectations of a -1.5 million bbl draw. Gasoline closed lower after a larger-than-expected +2.748 million bbl increase in weekly EIA gasoline inventories, higher than expectations of +500,000 bbl, and after U.S. gasoline demand fell -2% to 8.648 million barrels a day for the week ended Jun 7, the lowest for this time of year since 2003. Closes: CLN3 +0509 (+0.52%), RBN3 -0.0130 (-0.46%).