Market Soapbox 12/28/05
Still on the road, quick and dirty...
DJIA +18 with improved internals and thin trading, leaking into the close. SOX, RUT & MID supporting, DJUA down, gold up 2.7% along with a rebound in the greenback.
February crude futures contracts +3.4% today jumping $60 per barrel at one point. The Energy sector +1.7%, stopping and reversing yesterdays fall, and maintaining the linkage between rising energy futures and a rising equities market.
Yield curve flattening with bonds down with the 10 year yield rising @ 4.37% & the 30 year @ 4.53. 6 month & 2 year gap @ 3 bp; 2 & 5 year gap @ -4 bp; 2 & 10 year gap @ 1 bp; 5 & 10 year gap @ 5 bp; 10 & 30 gap @ 16 bp.
Yesterday, the SP500 held above 1250 and the NDX bounced back above 1665 to close, keep your eyes on the latter number for support or lack thereof.
Hasta
DJIA +18 with improved internals and thin trading, leaking into the close. SOX, RUT & MID supporting, DJUA down, gold up 2.7% along with a rebound in the greenback.
February crude futures contracts +3.4% today jumping $60 per barrel at one point. The Energy sector +1.7%, stopping and reversing yesterdays fall, and maintaining the linkage between rising energy futures and a rising equities market.
Yield curve flattening with bonds down with the 10 year yield rising @ 4.37% & the 30 year @ 4.53. 6 month & 2 year gap @ 3 bp; 2 & 5 year gap @ -4 bp; 2 & 10 year gap @ 1 bp; 5 & 10 year gap @ 5 bp; 10 & 30 gap @ 16 bp.
Yesterday, the SP500 held above 1250 and the NDX bounced back above 1665 to close, keep your eyes on the latter number for support or lack thereof.
Hasta
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