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Monday, July 27, 2009

Morning Market Report

It was a monster week last week. Most of the idices gain north of 7% for the week. Futures are currently marginally up, about a quarter of a percent. Aetna just released their numbers and they were well below expectations. That stock is down nearly 8% prior to the opening. Earnings will continue to come fast and furious this week. About 30% of the S&P 500 will report this week. Then, next week all eyes will be on Friday morning when the unemployment numbers come out for July.

Markets in the Far East were all higher. The Hang Seng in China was up 1.35%, the NIKKEI in Japan was up1.45%, while the Straits Time Index in Singapore was up 1.71%. In Europe it was also mostly positive though not nearly to the same intensity. In London, the FTSE was up .08%, the DAX in Germany was up .7%, while the Spanish index was up 1.2%. The Swedish index was the only in both Europe and the Far East to be down and it was down 1.36%.

Crude oil has climbed over $68 ber barrel. It's currently trading at $68.22. Meanwhile, Treasury rates continue to climb. The Ten year is currently trading at 3.72%. The spread between the 2 and 10 year is 2.66% and that also inches higher. The yield spread measures the likelihood of future inflation. It reached record highs of 2.75% and is now inching toward that record again. Meanwhile, an enormous amount of Treasuries will be auctioned off this week. $115 billion in Treasuries will be auctioned off this week.

The Dollar is mostly weaker. It's off .4% versus the Euro, down .42% versus the British Pound, and off .34% against the Yen.

My analysis:

Watch the Ten year bond. If this rally causes the Treasury bond to approach 4%, it will be short lived because borrowing costs will simply be too high to sustain it.


All information here is meant for informational purposes and not meant as an endorsement of an investment and shouldn't be taken as such. I am NOT a licensed investment professional and all investment strategies should be made on a personal level.

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