Market Soapbox Week Ending 10/03/08
MON, largest single day drop in history, DJIA -777 on high volume with ugly internals. All DOWN BIG. Bonds up BIG -27bps 3.58%. $ up big vs 1.4386€ & down big vs 103.81y, WTI crushed -12% $95.56, gold +2.5% $912.6; TED Spread explodes +35bps 3.25% the highest since 1984.
TUE, dead cat bounce, DJIA +485 on average volume with sterling internals. All UP BIG cept XAU. Bonds down BIG 10 yr +24bps 3.82, $ up BIG vs 1.409€ & vs 105.825y, WTI +5% $101.45 gold -3% $881.6, TED spread down -10bps 3.15%.
WEN, bailout wait DJIA -20 on average volume with poor internals. All DOWN cept DJUA, XAU. Bonds down +1bps 10 yr 3.81, $ up vs 1.3964€ & vs 106.155y, WTI -1% $99.98, gold -1% $875.3, TED spread UP +20bps 3.35%.
THU, another broad based selloff, DJIA -348 on higher volume with devastating internals. All CRASHING. Bonds up BIG 10 yr -18bps 3.63. $ up vs 1.3819€ & down vs 105.34y, WTI -6% $93.75, gold -4.5% $839.6; TED Spread UP BIG +26bps 3.61%
FRI, post bailout followthrough, DJIA -157 on higher volume with ugly internals. All DOWN cept XOI, XAU. Bonds up 10yr -3bps 3.60%. $ up vs 1.3772€ & down vs 105.315y, WTI up $93.88, gold down $833.2; TED Spread UP BIG +25bps 3.86%
This week, DJIA -817, since 09/19/05 DJIA -236. CRB commodities smashed 364.57 to 326.51
XAU pounded 138.29 to 112.09 & gold porked 891.1 to 833.2; XOI slapped 1239.61 to 1059.1 & WTI smashed 107.14 to 93.88; Volatility VIX explodes to all time high 34.77 to 45.14
TED Spread EXPLODED 2.90% to 3.86%; 3 mo LIBOR highest ever +57 bps 4.33%; Dollar index surges 76.985 to 80.604; $ down vs Yen 106.11 to 105.315 & smashing the €1.4616 to 1.3772.
This week bonds SURGED BIG.
30yr -27bps; 10yr -25bps, 5yr -43bps, 2yr -55bps, 6mo -45bps; 3mo -39bps.
30 yr @ 4.09%; 10 yr @ 3.60; 5 yr @ 2.63; 2yr @ 1.58; 6 mo @ 1.09; 3 mo @ 0.47
TUE, dead cat bounce, DJIA +485 on average volume with sterling internals. All UP BIG cept XAU. Bonds down BIG 10 yr +24bps 3.82, $ up BIG vs 1.409€ & vs 105.825y, WTI +5% $101.45 gold -3% $881.6, TED spread down -10bps 3.15%.
WEN, bailout wait DJIA -20 on average volume with poor internals. All DOWN cept DJUA, XAU. Bonds down +1bps 10 yr 3.81, $ up vs 1.3964€ & vs 106.155y, WTI -1% $99.98, gold -1% $875.3, TED spread UP +20bps 3.35%.
THU, another broad based selloff, DJIA -348 on higher volume with devastating internals. All CRASHING. Bonds up BIG 10 yr -18bps 3.63. $ up vs 1.3819€ & down vs 105.34y, WTI -6% $93.75, gold -4.5% $839.6; TED Spread UP BIG +26bps 3.61%
FRI, post bailout followthrough, DJIA -157 on higher volume with ugly internals. All DOWN cept XOI, XAU. Bonds up 10yr -3bps 3.60%. $ up vs 1.3772€ & down vs 105.315y, WTI up $93.88, gold down $833.2; TED Spread UP BIG +25bps 3.86%
This week, DJIA -817, since 09/19/05 DJIA -236. CRB commodities smashed 364.57 to 326.51
XAU pounded 138.29 to 112.09 & gold porked 891.1 to 833.2; XOI slapped 1239.61 to 1059.1 & WTI smashed 107.14 to 93.88; Volatility VIX explodes to all time high 34.77 to 45.14
TED Spread EXPLODED 2.90% to 3.86%; 3 mo LIBOR highest ever +57 bps 4.33%; Dollar index surges 76.985 to 80.604; $ down vs Yen 106.11 to 105.315 & smashing the €1.4616 to 1.3772.
This week bonds SURGED BIG.
30yr -27bps; 10yr -25bps, 5yr -43bps, 2yr -55bps, 6mo -45bps; 3mo -39bps.
30 yr @ 4.09%; 10 yr @ 3.60; 5 yr @ 2.63; 2yr @ 1.58; 6 mo @ 1.09; 3 mo @ 0.47
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