Monthly Archives: March 2012

The MorningSnapshot- 03/22

Stocks pared gains and sentiment turned sour on poor manufacturing reports out of China and Europe this morning. The dollar and yen are strengthening as investors move to risk averse assets, and crude oil is falling amid speculation industrialized nations are considering a release of strategic stockpiles. U.S. futures are pointing lower with the S&P 500 down -0.555% and the 10yr yield is trading down -4bps to 2.258%. Sovereign yields in Europe are lower except for Italy and Spain whose 10yr borrowing costs are up +4bps and +6bps respectively.

The MorningSnapshot- 03/21

Sentiment is mixed coming up on trading hours in New York, with S&P 500 futures up +0.196%, the Euro Stoxx 50 is little changed, and the Nikkei 225 closed down -0.55%. The U.S. 10yr Treasury yield is holding above its 2.32% level of support, but it has not taken out the late October high of 2.3964% that serves at the next level of resistance. German Bund yields were pushed to a three-month high after Greece won approval for its €130B bailout; the 10yr Bund is trading at 2.04%. Other Euro-area sovereign debt yields were mainly higher on the day. The dollar weakened -0.2% versus the euro to $1.3257 and declined against all but four of its 16 most-traded peers.

The MorningSnapshot- 03/20

Sentiment is mostly down this morning, with the dollar down versus the euro for the first time in four-days, U.S. equity futures pointing to a lower open, and the 10yr Treasury up +5bps to 2.346% amid falling commodity prices and fears of a slowdown in China. Volatility in equities fell yesterday with the VIX closing at 15.04, but the MOVE Index, an indication of Treasury market volatility, spiked +22bps since last Friday to 92.3.