Morning Market Report

Yesterday wound up being a monster day in the market. It goes to show just how fickle the market is day to day. An announcement by the G20 recommitting to continued stimuli was the driving force behind a move up by the Dow of 203.52 points. The NASDAQ and S&P 500 had similarly good days. The Dow is off just a bit this morning. It's currently off 33 points in the pre market futures.

Meanwhile, the bond offering went off without a hitch yesterday. $30 billion in new 3 year treasuries were auctioned off yesterday afternoon. Bonds were just slightly better. Bonds improved by two basis points yesterday and the ten year closed at 3.49%. They're trading significantly better this morning and the ten year is currently at 3.43%. The yield spread is also tightening. It's currently at 2.59%. That's tightened a bit in the last half week. Bonds were slightly worse across the board in Britain while they were slightly better across the board in Germany. Crude oil, meanwhile, continues to rise. It's now pushing $80 a barrel again. It's currently trading at $79.72 a barrel.

It was a good day in the Far East and a bad day in Europe today. The Hang Seng in China was up .27%, the NIKKEI in Japan was up .63%, and the Straits Time Index in Singapore was up .53%. In Europe, the FTSE in London was down .16%, the DAX in Germany was down .01%, and the Spanish Index was down .13%. All major indices in Europe are currently down except the Swedish index which is up 1.33%.

In currencies, the dollar is rallying some. It's better by .34% against the Euro, by .4% against the British Pound, but down .18% against the Japanese Yen.