Market Soapbox Week Ending 11/14/08
MON, large gains fail late, DJIA -73 on low volume with poor internals. All DOWN cept DJTA, XAU, XOI. Bonds up 10 yr -5bps 3.74%. $ down vs 1.2751 & vs 97.935y, WTI +2% $62.22, gold +2% $746.9; TED Spread up +3bps 2.04%; 3 mo Libor down -5bps 2.24
TUE, triple digit followthrough, DJIA -177 on lower volume with dismal internals. ALL DOWN 2%. Bond market closed, $ up BIG vs 1.2541 & down vs 97.482y, WTI -6% $58.89 gold -2% $731.8, TED spread -22bps 1.82%. 3mo Libor -6bps 2.18.
WEN, house of cards, DJIA -411 on higher volume with disasterous internals. All DOWN 5%+. Bonds up -9bps 10 yr 3.65, $ up vs E1.2478 & down BIG vs 94.883y, WTI -6% $55.77, gold -3% $710.3, TED spread +16bps 1.98%.; 3 mo Libor -5bps 2.13%
THU, violent swing, DJIA +553 on very high volume with sterling internals. All UP 6%+ Bonds down 10 yr +21bps 3.86. $ clubbed vs E1.2782 & down vs 97.664y, WTI +5% $58.24, gold -1% $705; TED Spread -1bps 1.97%; 3mo Libor +2bps 2.15
FRI, reality, DJIA -338 on high volume with dismal internals. All DOWN 4%+. Bonds up 10 yr -13bps 3.73%. $ up vs 1.2608 & down vs 97.038y, WTI -3% $56.35, gold +5% $742.1; TED Spread +14bps 2.11%; 3 mo Libor +9bps 2.24
This week, DJIA -446, since 09/19/05 DJIA -2164. CRB commodities down 256.84 to 247.58
XAU down 85.16 to 80.2 & gold up 734.2 to 742.1; XOI down 945.83 to 912.18 & WTI down 61.04 to 56.35; Volatility VIX up 56.1 to 66.31
TED Spread +10bps 2.11%; 3 mo LIBOR -5bps 2.24%; Dollar index up 86.123 to 87.435; $ up vs Yen 98.235 to 97.038 & vs E 1.2718t o 1.2608
This week bonds UP with short bonds UP HUGE.
30yr -4bps; 10yr -6bps, 5yr -23bps, 2yr -11bps, 6mo +6bps; 3mo -15bps.
30 yr @ 4.23%; 10 yr @ 3.73; 5 yr @ 2.33; 2yr @ 1.21; 6 mo @ 0.88; 3 mo @ 0.13
TUE, triple digit followthrough, DJIA -177 on lower volume with dismal internals. ALL DOWN 2%. Bond market closed, $ up BIG vs 1.2541 & down vs 97.482y, WTI -6% $58.89 gold -2% $731.8, TED spread -22bps 1.82%. 3mo Libor -6bps 2.18.
WEN, house of cards, DJIA -411 on higher volume with disasterous internals. All DOWN 5%+. Bonds up -9bps 10 yr 3.65, $ up vs E1.2478 & down BIG vs 94.883y, WTI -6% $55.77, gold -3% $710.3, TED spread +16bps 1.98%.; 3 mo Libor -5bps 2.13%
THU, violent swing, DJIA +553 on very high volume with sterling internals. All UP 6%+ Bonds down 10 yr +21bps 3.86. $ clubbed vs E1.2782 & down vs 97.664y, WTI +5% $58.24, gold -1% $705; TED Spread -1bps 1.97%; 3mo Libor +2bps 2.15
FRI, reality, DJIA -338 on high volume with dismal internals. All DOWN 4%+. Bonds up 10 yr -13bps 3.73%. $ up vs 1.2608 & down vs 97.038y, WTI -3% $56.35, gold +5% $742.1; TED Spread +14bps 2.11%; 3 mo Libor +9bps 2.24
This week, DJIA -446, since 09/19/05 DJIA -2164. CRB commodities down 256.84 to 247.58
XAU down 85.16 to 80.2 & gold up 734.2 to 742.1; XOI down 945.83 to 912.18 & WTI down 61.04 to 56.35; Volatility VIX up 56.1 to 66.31
TED Spread +10bps 2.11%; 3 mo LIBOR -5bps 2.24%; Dollar index up 86.123 to 87.435; $ up vs Yen 98.235 to 97.038 & vs E 1.2718t o 1.2608
This week bonds UP with short bonds UP HUGE.
30yr -4bps; 10yr -6bps, 5yr -23bps, 2yr -11bps, 6mo +6bps; 3mo -15bps.
30 yr @ 4.23%; 10 yr @ 3.73; 5 yr @ 2.33; 2yr @ 1.21; 6 mo @ 0.88; 3 mo @ 0.13
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