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Daily
Market Commentary
Commentary prepared by Balance Sheet Solutions,
LLC, Member FINRA/SIPC
Thursday, March 11, 2010 at 9:00 a.m. CST |
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Market
Indications 
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Other Market Indicators |
| 2s/5s
Tsy Spread |
1.47 |
-0.01
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DJIA-30 |
10543.00 |
-24.56 |
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Dollar
Idx |
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+0.00 |
| 2s/10s
Tsy Spread |
2.80 |
+0.02 |
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NASDAQ |
2352.31 |
-6.70 |
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CRB
Idx |
273.93 |
-0.69 |
| 2s/30s
Tsy Spread |
3.77 |
-0.02 |
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S&P-500 |
1142.40 |
-3.21 |
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| Today's
Market Comments and Strategy |
The Treasury is scheduled to auction $13 billion in 30s, in line with the previous reopening. Recent auction statistics highlight that demand for the sector has not been strong. The bid-cover ratio has hovered around 2.5, with the latest at 2.36. In addition, the tails data also shows the poor performance of bond auctions; most have tailed, with only three over the past year coming through.
This morning, weekly jobless claims showed little improvement. Initial claims came in at 462,000 whereas continuing claims were a touch higher than expected. At noon, the Fed will release the Q4 Flow of Funds report.
In early morning trade, Treasuries are trading modestly lower in advance of the 30-year auction. Equities are pointing to a lower opening and commodities are flat-lining.
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March 8 - 12, 2010: The Week Ahead
Sources:
Bloomberg
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| Select
Probabilities based on the Futures |
Probability
of No Change (0-0.25%) Fed Funds on March 16, 2010
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72% |
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| Probability
of No Change (0-0.25%) Fed Funds on April 28, 2010 |
76% |
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**All
quoted rates are indications and are subject to change without
notice.
*
Balance Sheet Solutions, LLC is a member of the FINRA/SIPC. |
The information
contained herein is prepared by Balance Sheet Solutions, LLC
for general circulation and is distributed for general information
only. This information does not consider the specific investment
objectives, financial situations or particular needs of any specific
individual or organization that may receive this report. Neither
the information nor any opinion expressed constitutes an offer,
or an invitation to make an offer, to buy or sell any securities.
All opinions, prices, and yields contained herein are subject
to change without notice. Investors should understand that statements
regarding future prospects might not be realized. Please contact
Balance Sheet Solutions to discuss your specific situation and
objectives.
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