Opening Comments
First Published Friday, 10 July 2009 12:46 am - © 2009 Need to Know News
European and Asian equities are down sharply on recession concerns. US equities are set to open lower today with Dow futures down three quarters of a percent. S&Ps and Nasdaq futures are both down one percent. President Bush raised the notion of an orderly bankruptcy yesterday at the American Enterprise Institute and TSY Secretary Paulson appeared to support that stance in comments last night.
Bonds are down after a week of gains. The thirty year is down about a point to 140-28. The ten year is down nine ticks to 127-23. The five and two year are also down, albeit less than 0.1%.
The dollar index is up almost two percent. EUR/USD is down about 250 pips to just below 1.4 while Cable is down three tenths of a percent. The USD/JPY continues trading just below 90. USD/CAD is up one and a half percent.
Crude continues falling and is down $2 to $34.15. Gold is taking a beating, falling about $26 to $834.
There are no economic releases or FED speakers today.
