Today is the first market day since Friday. Bond markets continue to close early into the new year (2pm EST).
Over the weekend taking a position in coal has turned out to be not only a fun holiday themed trade, but also a very sound move. Coal futures – an often underreported commodity – were up 2% after the weekend. Prices for coal have been weak over the last few years as regulations tighten year after year making coal an increasingly unappealing fuel for electricity generation. The incoming administration has many generators reconsidering conversions of existing facilities, and rising natural gas prices is only adding to their hesitation. In the interim we can expect coal producers to do very well, and since they’re traded very lightly they are also very reasonably priced.