US Mid-Morning Recap by TradeTheNews Staff - Treasury futures opened higher on in the pit and gains were extend by weekly initial jobless claims that was ahead of the estimate and then followed by weaker than expected January industrial production data. The yield on the 10-year note has fallen below 4.7% while the 30-year is now below 4.8%. Currency markets received a bit of a jolt after December TICS data was well below the estimate. The data did show continued demand for US Treasuries helping hold gains in the bond market. The US Dollar initially fell on the news but has since rebounded. The greenback is really losing ground to the Yen at 119.45, down more than 1% on the day. Overnight Japanese GDP came in above estimates which has helped push the Yen up across the board and inducing chatter of a possible BofJ rate hike next week. The GBP/USD is losing ground after weak retail sales figures. Gold futures are near session lows $666.50 while copper continues to bounce for the early Feb low up another 2.5% this morning. - Equity markets firmed to early highs just after the NYC open while crude futures took a nosedive. March crude traded as high as $58.51 ahead of the pit open but slide below $57 a little more than an hour after the open on the floor. Some traders have pointed to warmer forecasts for todayâs weakness. The OIH is losing 2% on the day, hurt by BHI, which has given back 9% following earnings. Reminder Philly Fed is expected at 12 ET.