Daily Market Commentary
Commentary prepared by Balance Sheet Solutions, LLC, Member FINRA/SIPC
Thursday, March 11, 2010 at 9:00 a.m. CST

 
Market Indications .
.
    market indications
Other Market Indicators
2s/5s Tsy Spread
1.47
-0.01
DJIA-30
10543.00
-24.56
Dollar Idx

80.47

+0.00
2s/10s Tsy Spread
2.80
+0.02
NASDAQ
2352.31
-6.70
CRB Idx
273.93
-0.69
2s/30s Tsy Spread
3.77
-0.02
S&P-500
1142.40
-3.21
 
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.

   

March 8 - 12, 2010: The Week Ahead
Sources: Bloomberg
economic calendar

   
future fed expectations
   
expected fed funds path
   
 
Select Probabilities based on the Futures
Probability of No Change (0-0.25%) Fed Funds on March 16, 2010
72%
Probability of No Change (0-0.25%) Fed Funds on April 28, 2010
76%

 

**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.