Market Soapbox Week Ending 05/02/08

MON, split tape, DJIA -20 on light volume with midlin internals. All DOWN cept DJTA, NDX, NAZ, MID, RUT. Bonds up 10 yr yield -4bps 3.83, $ down vs 1.564€ & vs 104.165y, WTI up $118.80, gold up $895.5, TED spread down -3bps 1.52%.

TUE, split tape, DJIA -40 on light volume with ugly internals. All DOWN cept DJTA, NDX, NAZ, SOXX, XOI. Bonds up 10 yr yield -3bps 3.80; $ up vs 1.5564€ & down vs 104.05y; WTI -3% $115.35; gold -2% $876.8 TED Spread down -11bps 1.41%

WEN, a deflating cut, DJIA -12 on light volume with ugly internals. All DOWN cept XAU, XOI. Bonds up 10 yr yield -5bps 3.75, $ down vs 1.5614€ & vs 104.009y, WTI -1% $114.51, gold -1.3% $865.1, TED spread up +5bps 1.46%

THU, triple digit surge, DJIA +190 on lower volume with pretty internals. All UP BIG cept XOI, XAU. Bonds down 10yr +1bps 3.76, $ up HUGE vs 1.547€ & vs 104.387y, WTI -1% $112.52, gold -1.5% $850.9, TED spread down BIG -9bps 1.37%.

FRI, split tape, DJIA +48 on light volume with midlin internals. All UP cept DJTA, NAZ, SOXX, RUT. Bonds down BIG 10 yr yield +10bps 3.86, $ up vs 1.5412€ & vs 105.43y, WTI +3.3% $116.29, gold +1% $858, TED spread down BIG -9bps 1.28%.

This week, DJIA +166, since 09/19/05 DJIA +2481. CRB commodities down 417.8 to 408.13

XAU down 176.06 to 169.05 & gold down 889.7 to 858; XOI up 1489.45 to 1490.14 & WTI down 118.48 to 116.29. Volatility VIX down 19.5 to 18.45

TED Spread down BIG 1.55% to 1.28%; Dollar index up 72.81 to 73.525. $ up BIG vs Yen 104.46 to 105.43 & vs € 1.561 to 1.5412.

This week bonds down , the 2 year last week +128bps with the largest yield increase in 7 years.

30yr -1bps; 10yr -1bps, 5yr +0bps, 2yr +4bps, 6mo -2bps; 3mo +13bps.

30 yr @ 4.58%; 10 yr @ 3.86; 5 yr @ 3.18; 2yr @ 2.46; 6 mo @ 1.69; 3 mo @ 1.49

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