Market Soapbox 08/15/08

MON, followthrough, DJIA +48 on average volume with nice internals. All UP cept DJTA, XAU. Bonds down 10 yr +6bps 3.99, $ up vs 1.49€ & down vs 110.109y, WTI down $114.57 gold -4% $829.7, TED spread down BIG -10bps 1%.

TUE, triple digit dip, DJIA -140 on lower volume with poor internals. All DOWN cept SOXX, XAU. Bonds up BIG 10 yr -9bps 3.90, $ down vs 1.4921€ & vs 109.245y, WTI -1.5% $112.97, gold -1% $819.8, TED spread down -5bps 0.95%.

WEN, triple digit followthrough DJIA -110 on average volume with poor internals. All DOWN cept DJUA, NDX, MID, XAU, XOI, RUT. Bonds down 10 yr +4bps 3.94. $ up vs 1.4913€ & vs 109.57y, WTI +3% $116.41, gold +2% $833.3; TED Spread up +1bps 0.96%

THU, bounce, DJIA +83 on lower volume with nice internals. All UP cept DJUA, XAU, XOI. Bonds up 10 yr -5bps 3.89%. $ up vs 1.4804€ & vs 109.778y, WTI -1.5% $114.97, gold down $810.7; TED Spread down -1bps 0.95%

FRI, split tape, DJIA +44 on lower volume with midlin internals. All DOWN cept the DOWS. Bonds up 10 yr -6bps 3.83, $ up BIG vs 1.4688€ & vs 110.5y, WTI -1% $113.77 gold -2.5% $792.1, TED spread up +3bps 0.98%.

This week, DJIA -75, since 09/19/05 DJIA +1099. CRB commodities down 387.42 to 382.3

XAU down 144.47 to 137.38 & gold down BIG 863.9 to 792.1; XOI down 1292.18 to 1275.7 & WTI down 115.08 to 113.77. Volatility VIX down 20.66 to 19.58

TED Spread down BIG 1.11% to 0.98%; Dollar index up 75.85 to 77.125; $ up vs Yen 110.18 to 110.5 & HUGE vs €1.5005 to 1.4688

This week bonds split long up; short down.

30yr -7bps; 10yr -10bps, 5yr -10bps, 2yr -12bps, 6mo +4bps; 3mo +14bps.

30 yr @ 4.46%; 10 yr @ 3.83; 5 yr @ 3.10; 2yr @ 2.38; 6 mo @ 1.98; 3 mo @ 1.83

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