Market Soapbox 02/25/08
MON, followthrough, DJIA +189 on average volume with nice internals. All UP cept XAU.
Bonds down 10 yr yield +9bps 3.90. $ up vs 1.4829E & vs 108.059y, WTI up $99.24, gold down $940.5 TED spread up +3bps 0.91%
SP500 open 1352, dip to 1346, rise to 1374, close 1371. NDX open 1773, dip to 1761, rise to 1790, close 1785.
Friday.... "DJIA down 125, then boom, a 240 point surge in the closing 30 minutes, on a report that a bailout for guarantor Ambac is imminent."
Today, bond insurers MBIA and Ambac had their AAA credit ratings reaffirmed by S&P, the market jumped off the floor to close up.
MBIA remains on the rating agency's negative watch list, but is no longer under review for a possible downgrade.
Ambac, however, remains under review for a possible downgrade. Despite the lick & a promise...
we still smell smoke. Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr yield +9bps 3.90. $ up vs 1.4829E & vs 108.059y, WTI up $99.24, gold down $940.5 TED spread up +3bps 0.91%
SP500 open 1352, dip to 1346, rise to 1374, close 1371. NDX open 1773, dip to 1761, rise to 1790, close 1785.
Friday.... "DJIA down 125, then boom, a 240 point surge in the closing 30 minutes, on a report that a bailout for guarantor Ambac is imminent."
Today, bond insurers MBIA and Ambac had their AAA credit ratings reaffirmed by S&P, the market jumped off the floor to close up.
MBIA remains on the rating agency's negative watch list, but is no longer under review for a possible downgrade.
Ambac, however, remains under review for a possible downgrade. Despite the lick & a promise...
we still smell smoke. Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Comments