Market Soapbox Week Ending 12/12/08

MON, more chump pump, DJIA +299 on higher volume with sterling internals. All UP 3%+. Bonds down 10 yr +5bps 2.75%. $ down huge vs E1.2901 & vs 92.747y, WTI +6% $44, gold +2% $773.6; TED Spread flat 2.18%; 3 mo Libor flat 2.19

TUE, wavy gravy, DJIA -243 on higher volume with ugly internals. ALL DOWN cept SOXX, XAU. Bonds up 10 yr -9bps 2.66%, $ down vs E1.2925 & vs 92.32y, WTI -3% $42.45 gold up $776.4, TED spread -3bps 2.15%. 3mo Libor -3bps 2.16.

WEN, more wavy gravy, DJIA +70 on average volume with nice internals. All UP. Bonds down 10 yr +2bps 2.68, $ down vs E1.3018 & up vs 92.825y, WTI +3% $43.99, gold +5% $810.6, TED spread -5bps 2.1%.; 3 mo Libor -6bps 2.09%

THU, late sell off, DJIA -196 on average volume with ugly internals. All DOWN cept XOI. Bonds up 10 yr -8 bps 2.60, $ down HUGE vs E1.3345 & vs 91.48y, WTI +7.5% $47.16, gold +1% $822.6, TED spread -16bps 1.99%.; 3 mo Libor -9bps 2%

FRI, slight bounce, DJIA +65 on average volume with ncie internals. All UP cept DJTA, XOI. Bonds up 10 yr -3bps 2.57%. $ down vs E1.337 & vs 91.155y, WTI -2% $46.28, gold down $820.5; TED spread -8bps 1.91%; 3 mo Libor -8bps1.92

This week, DJIA -5, since 09/19/05 DJIA -2030. CRB commodities up 208.6 to 226.96

XAU up 87.58 to 108.24 & gold up 756.7 to 820.5; XOI up 859.77 to 944.22 & WTI up 41.66 to 46.28; Volatility VIX down 59.93 to 54.28

TED Spread -27bps 1.91%; 3 mo LIBOR -27bps 1.92%; Dollar index down 86.838 to 83.711; $ down vs Y92.84 to 91.155 & vs E1.2718 to 1.337

This week bonds UP.

30yr -9bps; 10yr -13bps, 5yr -18bps, 2yr -16bps, 6mo flat; 3mo flat.

30 yr @ 3.04%; 10 yr @ 2.57; 5 yr @ 1.51; 2yr @ 0.76; 6 mo @ 0.20; 3 mo @ 0.01

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