Market Soapbox Week Ending 09/26/08
MON, back to reality, DJIA -373 on average volume with devastating internals. ALL DOWN BIG cept XAU. Bonds down 10 yr +4bps 3.84%. $ crushed vs 1.4792€ & vs 105.37y, WTI +5% $109.1, gold +4% $907.3; TED Spread down HUGE -34bps 1.94%
TUE, followthrough, DJIA -162 on light volume with poor internals. All DOWN. Bonds up 10 yr -4bps 3.80, $ up vs 1.465€ & vs 105.507y, WTI -2% $106.94 gold -1% $897.8, TED spread up HUGE +56bps 2.50%.
WEN, split tape -28 on light volume with midlin internals. All UP cept MID, RUT, DJTA. Bonds down +1bps 10 yr 3.81, $ up vs 1.4612€ & vs 106.235y, WTI down $105.46, gold -1% $887.7, TED spread EXPLODES +52bps 3.02%.
THU, bailout bounce, DJIA +197 on average volume with nice internals. All UP cept XAU. Bonds down 10 yr +4bps 3.85. $ down vs 1.4619€ & up vs 106.42y, WTI +2% $107.67, gold down $882.2; TED Spread flat 3.02%
FRI, chump pump, DJIA +121 on low volume with ugly internals. All DOWN cept SP500, SOXX. Bonds flat 3.85%. $ up vs 1.4616€ & vs 106.11y, WTI down $107.14, gold +1% $891.1; TED Spread down -12bps 2.90%
This week, DJIA -245, since 09/19/05 DJIA +581. CRB commodities up 359.58 to 364.57
XAU up 127.13 to 138.29 & gold up 876.2 to 891.1; XOI down 1246.97 to 1239.61 & WTI up 104.1 to 107.14. Volatility VIX up 32.07 to 34.77
TED Spread EXPLODED 2.28% to 2.90%; 3 mo LIBOR highest ever 3.76%; Dollar index down 77.65 to 76.985; $ up vs Yen 107.395 to 106.11 & down vs €1.448 to 1.4616
This week bonds flat.
30yr -3bps; 10yr +5bps, 5yr +2bps, 2yr -5bps, 6mo 0bps; 3mo -7bps.
30 yr @ 4.36%; 10 yr @ 3.85; 5 yr @ 3.06; 2yr @ 2.13; 6 mo @ 1.54; 3 mo @ 0.86
TUE, followthrough, DJIA -162 on light volume with poor internals. All DOWN. Bonds up 10 yr -4bps 3.80, $ up vs 1.465€ & vs 105.507y, WTI -2% $106.94 gold -1% $897.8, TED spread up HUGE +56bps 2.50%.
WEN, split tape -28 on light volume with midlin internals. All UP cept MID, RUT, DJTA. Bonds down +1bps 10 yr 3.81, $ up vs 1.4612€ & vs 106.235y, WTI down $105.46, gold -1% $887.7, TED spread EXPLODES +52bps 3.02%.
THU, bailout bounce, DJIA +197 on average volume with nice internals. All UP cept XAU. Bonds down 10 yr +4bps 3.85. $ down vs 1.4619€ & up vs 106.42y, WTI +2% $107.67, gold down $882.2; TED Spread flat 3.02%
FRI, chump pump, DJIA +121 on low volume with ugly internals. All DOWN cept SP500, SOXX. Bonds flat 3.85%. $ up vs 1.4616€ & vs 106.11y, WTI down $107.14, gold +1% $891.1; TED Spread down -12bps 2.90%
This week, DJIA -245, since 09/19/05 DJIA +581. CRB commodities up 359.58 to 364.57
XAU up 127.13 to 138.29 & gold up 876.2 to 891.1; XOI down 1246.97 to 1239.61 & WTI up 104.1 to 107.14. Volatility VIX up 32.07 to 34.77
TED Spread EXPLODED 2.28% to 2.90%; 3 mo LIBOR highest ever 3.76%; Dollar index down 77.65 to 76.985; $ up vs Yen 107.395 to 106.11 & down vs €1.448 to 1.4616
This week bonds flat.
30yr -3bps; 10yr +5bps, 5yr +2bps, 2yr -5bps, 6mo 0bps; 3mo -7bps.
30 yr @ 4.36%; 10 yr @ 3.85; 5 yr @ 3.06; 2yr @ 2.13; 6 mo @ 1.54; 3 mo @ 0.86
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