Market Soapbox Week Ending 10/17/08
MON, the dead cat bounced big, DJIA +936 on average volume with sterling internals. All UP 10%. Bonds clubbed 10yr +19bps 4.06%. $ porked vs 1.368 & vs 102.975y, WTI +5% $82.33, gold -2% $843.4; TED Spread down-7bps 4.57%
TUE, tech tanks -5%, DJIA -77 on higher volume with miserable internals. ALL DOWN cept XAU, XOI. Bonds up 10 yr -4bps 4.02, $ up vs 1.3637 & down vs 102.118y, WTI -4% $78.63 gold down $839.5, TED spread down -26bps 4.31%. 3 mo Libor still at 4.64.
WEN, and the black hole opened, DJIA -733 on average volume with disasterous internals. All DOWN 8%, XAU -11%; XOI -15%. Bonds up -7bps 10 yr 3.95, $ up vs 1.3484 & porked vs 99.855y, WTI -5% $73.25, gold up $844.5, TED spread UP +3bps 4.34%.; Libor -9bps 4.55
THU, wild swings, DJIA +401 on higher volume with sterling internals. All UP 4% cept XAU -7%. Bonds down 10 yr +1bps 3.96. $ down vs 1.3504 & vs 101.645y, WTI down $72.89, gold -5% $805.8; TED Spread down BIG -27bps 4.07%; Libor -5bps 4.5
FRI, wavy gravy, DJIA -127 on higher volume with midlin internals. All DOWN cept DJUA, XAU. Bonds up 10yr -3bps 3.93%. $ up vs 1.3409 & vs 101.684y, WTI -1% $71.85, gold -2% $787.7; TED Spread DOWN HUGE -44bps 3.63%; Libor down -8bps 4.42
This week, DJIA +400, since 09/19/05 DJIA -1710. CRB commodities down 289.89 to 282.14
XAU trounced 100.56 to 85.85 & gold slapped 859 to 787.7; XOI up 806.32 to 855.23 & WTI down 77.7 to 71.85; Volatility VIX explodes to all time high 69.95 to 70.33
TED Spread down HUGE -101bps 4.64 to 3.63%; 3 mo LIBOR down BIG -40bps 4.42%; Dollar index up 80.604 to 82.397; $ up vs Yen 100.68 to 101.684 & down vs E 1.3408 to 1.3409
This week bonds down as short bonds got HAMMERED.
30yr +18bps; 10yr +6bps, 5yr +7bps, 2yr -2bps, 6mo +41bps; 3mo +61bps.
30 yr @ 4.32%; 10 yr @ 3.93; 5 yr @ 2.83; 2yr @ 1.61; 6 mo @ 1.22; 3 mo @ 0.79
TUE, tech tanks -5%, DJIA -77 on higher volume with miserable internals. ALL DOWN cept XAU, XOI. Bonds up 10 yr -4bps 4.02, $ up vs 1.3637 & down vs 102.118y, WTI -4% $78.63 gold down $839.5, TED spread down -26bps 4.31%. 3 mo Libor still at 4.64.
WEN, and the black hole opened, DJIA -733 on average volume with disasterous internals. All DOWN 8%, XAU -11%; XOI -15%. Bonds up -7bps 10 yr 3.95, $ up vs 1.3484 & porked vs 99.855y, WTI -5% $73.25, gold up $844.5, TED spread UP +3bps 4.34%.; Libor -9bps 4.55
THU, wild swings, DJIA +401 on higher volume with sterling internals. All UP 4% cept XAU -7%. Bonds down 10 yr +1bps 3.96. $ down vs 1.3504 & vs 101.645y, WTI down $72.89, gold -5% $805.8; TED Spread down BIG -27bps 4.07%; Libor -5bps 4.5
FRI, wavy gravy, DJIA -127 on higher volume with midlin internals. All DOWN cept DJUA, XAU. Bonds up 10yr -3bps 3.93%. $ up vs 1.3409 & vs 101.684y, WTI -1% $71.85, gold -2% $787.7; TED Spread DOWN HUGE -44bps 3.63%; Libor down -8bps 4.42
This week, DJIA +400, since 09/19/05 DJIA -1710. CRB commodities down 289.89 to 282.14
XAU trounced 100.56 to 85.85 & gold slapped 859 to 787.7; XOI up 806.32 to 855.23 & WTI down 77.7 to 71.85; Volatility VIX explodes to all time high 69.95 to 70.33
TED Spread down HUGE -101bps 4.64 to 3.63%; 3 mo LIBOR down BIG -40bps 4.42%; Dollar index up 80.604 to 82.397; $ up vs Yen 100.68 to 101.684 & down vs E 1.3408 to 1.3409
This week bonds down as short bonds got HAMMERED.
30yr +18bps; 10yr +6bps, 5yr +7bps, 2yr -2bps, 6mo +41bps; 3mo +61bps.
30 yr @ 4.32%; 10 yr @ 3.93; 5 yr @ 2.83; 2yr @ 1.61; 6 mo @ 1.22; 3 mo @ 0.79
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