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Wednesday, June 23, 2010

Market Update-06.23.2010


Equity Indexes
INDU- 10298.40 4.92 (+0.05%)
NASDAQ- 2254.23 -7.57 (-0.33%)
SPX- 1092.04 -3.27 (-0.30%)

Commodities
WTI Crude Oil- $76.14 -0.21 (-0.28%)
Brent Crude Oil- $76.270 -1.770 (-2.27%)
Natural Gas- $4.7990 -0.005 (-0.10%)
Gold Spot- $1238.00 3.20 (+0.26%)
Silver Spot- $18.585 0.081 (+0.44%)

Bonds
2 Year UST- Price:99.89 (-0.02) Yield: 0.68% (+0.68)
10 Year UST- Price:103.20 (-0.02) Yield: 3.12% (-0.05)
10 Year Gilt- Price:110.75 (+0.17) Yield: 3.43% (-0.02)
10 Year Bund- Price:103.05 (+0.39) Yield: 2.64% (-0.04)
10 Year Oats- Price:103.51 (-0.11) Yield: 3.08% (+0.01)
10 Year JGB- Price:101.32 (+0.12) Yield: 1.15% (-0.04)
10 Year Greek- Price: 74.97 (-2.91) Yield: 10.36% (+0.59)

Foreign Exchange
EUR/USD = 1.2313
GBP/USD = 1.4973
USD/JPY = 89.9340
USD/CAD= 1.0394
EUR/JPY = 111.1698
EUR/HUF= 279.5028

Equity Index Futures
Nikkei 225- 9,950.00 +50.00
Hang Sang- 20,935.00 +96.00
SPI 200- 4,481.00 +8.00

10 year Greek debt is now trading at a whopping 772 bp over 10 year Bunds. It will be nearly impossible for the Greek government to roll over their debt in private markets or access short-term financing for their day-to-day operations, if spreads continue to widen. Unfortunately this story did not get enough play today.

The U.S. economy was front and center. Bernanke reminded us he and his team can continue to drop money out of the FED's helicopter if needed. Kansas City President Hoening was the lone dissenter today.

I took some profits on my SPX puts early in the session today. Tomorrow I'm looking to go long Nat Gas for part of the session. Crude is in play too.

By the way, All Kobe does is win! Good luck trading tomorrow!

Related ETF's: United States Oil Fund LP (USO:US), United States Natural Gas Fund LP (UNG:US), United States 12 Month Natural Gas Fund LP (UNL:US)

Patrick M. Ambrus
Analyze Capital LLC
ambrus.anlzgroup@gmail.com

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