Market Soapbox Week Ending 06/06/08

MON, triple digit down, DJIA -135 on average volume with ugly internals. All DOWN cept XAU, XOI. Bonds up BIG 10 yr yield -10bps 3.96, $ up vs 1.554€ & down vs 104.465y, WTI up $127.62, gold up $897, TED spread up +7bps 0.85%.

TUE, triple digit followthrough, DJIA -101 on average volume with ugly internals. All DOWN cept MID. Bonds up 10 yr yield -6bps 3.90, $ up vs 1.5459€ & vs 104.97y, WTI -2% $124.3, gold down $884.8, TED spread down -2bps 0.83%.

WEN, split tape, DJIA -12 on average volume with midlin internals. All UP cept XOI, XAU, SP500. Bonds down BIG 10 yr yield +8bps 3.98; $ up vs 1.5442€ & vs 105.23y; WTI -2% $122.06; gold down $883.8; TED Spread flat 0.83%

THU, double triple surge, DJIA +214 on average volume with sterling internals. All UP BIG. Bonds down 10 yr +5bps 4.03, $ down vs 1.5594€ & up vs 105.936y, WTI +5% $128.3, gold down $875.5, TED spread FLAT 0.83%.

FRI, quadruple triple slap down, DJIA -395 on above higher volume with devastating internals. All DOWN BIG cept XOI. Bonds up BIG 10 yr yield -11bps 3.92, $ down vs 1.5772€ & vs 104.935y, WTI +8% $138.16, gold +2.7% $899, TED spread up +4bps 0.87%.

This week, DJIA -429, since 09/19/05 DJIA +1643. CRB commodities up 422.17 to 441.51

XAU up 181.44 to 183.7 & gold down 925.8 to 891.5; XOI down 1569.59 to 1543.08 & WTI up 127.35 to 138.16. Volatility VIX up BIG 17.83 to 23.56

TED Spread up 0.79 to 0.87; Dollar index down 72.881 to 72.352; $ down vs Yen 105.51 to 104.935 & vs €1.5554 to 1.5772

This week bonds UP BIG.

30yr -9bps; 10yr -14bps, 5yr -24bps, 2yr -27bps, 6mo -3bps; 3mo -6bps.

30 yr @ 4.63%; 10 yr @ 3.92; 5 yr @ 3.18; 2yr @ 2.38; 6 mo @ 1.98; 3 mo @ 1.83

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