Market Soapbox Week Ending 10/24/08
MON, bounce, DJIA +413 on average volume with sterling internals. All UP +4%. Bonds up 10yr -8bps 3.85%. $ up vs 1.333 & vs 101.883y, WTI +4% $75.46, gold +2% $802.4; TED Spread DOWN HUGE -80bps 2.83%; Libor down BIG -36bps 4.06%
TUE, gravity strikes back, DJIA -232 on average volume with miserable internals. ALL DOWN BIG. Bonds up 10 yr -12bps 3.73 $ up vs 1.3062 & down vs 100.15y, WTI -4% $71.77 gold -3% $772.5, TED spread down -7bps 2.76%. 3 mo Libor down -23bps 3.83.
WEN, crushed again, DJIA -514 on higher volume with disasterous internals. All DOWN 5%, XAU -16%; XOI -10%. Bonds up -14bps 10 yr 3.59, $ up huge vs 1.2833 & porked vs 97.939y, WTI -6% $67.25, gold -6% $728.9, TED spread down BIG -49bps 2.27%.; Libor -29bps 3.54
THU, wild swings, DJIA +172 on higher volume with poor internals. All DOWN cept XOI, SP500, DJUA. Bonds down 10 yr +8bps 3.67. $ down vs 1.2972 & vs 97.778y, WTI +2% $69.4, gold -1% $721.9; TED Spread up BIG +30bps 2.57%; Libor flat 3.54
FRI, triple triple dip, DJIA -312 on average volume with ugly internals. All DOWN 4% cept XAU. Bonds down 10yr +2bps 3.69%. $ up huge vs 1.2622 & down huge vs 94.31y, WTI -5% $64.66, gold +1.5% $733; TED Spread up +10bps 2.67%; Libor down -2bps 3.52
This week, DJIA -573, since 09/19/05 DJIA -2283. CRB commodities clubbed 282.14 to 256
XAU trounced 85.85 to 70.86 & gold slapped 787.7 to 733; XOI clubbed 855.23 to 817.42 & WTI slammed 71.85 to 64.66; Volatility VIX explodes to all time high 70.33 to 79.13
TED Spread down HUGE -96bps 3.63 to 2.67%; 3 mo LIBOR down HUGE -90bps 3.52%; Dollar index up HUGE 82.397 to 86.448; $ trounced vs Yen 101.684 to 94.31 & up huge vs E 1.3409 to 1.2622
This week bonds UP with short bonds down.
30yr -25bps; 10yr -24bps, 5yr -24bps, 2yr -9bps, 6mo +18bps; 3mo +6bps.
30 yr @ 4.07%; 10 yr @ 3.69; 5 yr @ 2.59; 2yr @ 1.52; 6 mo @ 1.40; 3 mo @ 0.85
TUE, gravity strikes back, DJIA -232 on average volume with miserable internals. ALL DOWN BIG. Bonds up 10 yr -12bps 3.73 $ up vs 1.3062 & down vs 100.15y, WTI -4% $71.77 gold -3% $772.5, TED spread down -7bps 2.76%. 3 mo Libor down -23bps 3.83.
WEN, crushed again, DJIA -514 on higher volume with disasterous internals. All DOWN 5%, XAU -16%; XOI -10%. Bonds up -14bps 10 yr 3.59, $ up huge vs 1.2833 & porked vs 97.939y, WTI -6% $67.25, gold -6% $728.9, TED spread down BIG -49bps 2.27%.; Libor -29bps 3.54
THU, wild swings, DJIA +172 on higher volume with poor internals. All DOWN cept XOI, SP500, DJUA. Bonds down 10 yr +8bps 3.67. $ down vs 1.2972 & vs 97.778y, WTI +2% $69.4, gold -1% $721.9; TED Spread up BIG +30bps 2.57%; Libor flat 3.54
FRI, triple triple dip, DJIA -312 on average volume with ugly internals. All DOWN 4% cept XAU. Bonds down 10yr +2bps 3.69%. $ up huge vs 1.2622 & down huge vs 94.31y, WTI -5% $64.66, gold +1.5% $733; TED Spread up +10bps 2.67%; Libor down -2bps 3.52
This week, DJIA -573, since 09/19/05 DJIA -2283. CRB commodities clubbed 282.14 to 256
XAU trounced 85.85 to 70.86 & gold slapped 787.7 to 733; XOI clubbed 855.23 to 817.42 & WTI slammed 71.85 to 64.66; Volatility VIX explodes to all time high 70.33 to 79.13
TED Spread down HUGE -96bps 3.63 to 2.67%; 3 mo LIBOR down HUGE -90bps 3.52%; Dollar index up HUGE 82.397 to 86.448; $ trounced vs Yen 101.684 to 94.31 & up huge vs E 1.3409 to 1.2622
This week bonds UP with short bonds down.
30yr -25bps; 10yr -24bps, 5yr -24bps, 2yr -9bps, 6mo +18bps; 3mo +6bps.
30 yr @ 4.07%; 10 yr @ 3.69; 5 yr @ 2.59; 2yr @ 1.52; 6 mo @ 1.40; 3 mo @ 0.85
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