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The Banks Thank You
publication date: Feb 12, 2010
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author/source: Brad Hamill
Greetings,
I have a very
short update today:
http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1287086
It’s
worth your time.
In addition, we have this:
Citi
to let distressed homeowners stay for 6 mos.
Isn’t that nice of
them? There’s only one “small” catch. You need to turn over the deed to your
property. Isn’t that special?
Lastly, we have this gem:
Fed
in Talks With Money Market Funds to Help Drain $1 Trillion
The
Feds want to “allow” the banks that hold the retirement accounts of average
“Joe’s” to use the money to buy toxic Mortgage-backed securities.
Have I
mentioned that now is a good time to hold cash (in my
opinion)? ______________________________________________________
Watch
for these indexes to drop:
Chinese Shanghai Composite Index: 2,985.50
(change of 8.61% from July 20, 2009 base
value of 3,266.92) Shenzhen Stock Exchange Component Stock Index (SSE):
12,224.60 (change of 8.64% from July 20,
2009 base value of
13,381.22) ________________________________________________________
Here
are today’s numbers for the economic indicator:
1) Gold = $1,092.60 2) Silver = $15.61 3) Dollar
Index = 79.99 4) Oil = $75.28 5) S&P 500 Index = 1,078.47 6)
3-month Treasury Bill yield = 0.09 7) 3-month OIS = 0.16
HEI =
33.86
(A value of under 100 indicates deflation, while over 100 indicates
inflation – as referenced to Sept. 12, 2008…the day before Lehman Brothers
collapsed)
__________________________________________________________
Here
are the numbers for the day:
Dollar Index adjusted indexes: Dow =
(10,144.19) x (0.7999) = 8,114.34 S&P 500 = (1,078.47) x (0. 7999) =
862.67 Nasdaq = (2,177.41) x (0. 7999) = 1,741.71
3-month Treasury:
0.09
2-year Treasury: 0.87
10-year Treasury: 3.72
30-year
Treasury: 4.67
2-yr vs. 10-yr Spread (Target > 273): 285 basis points – (Danger Zone)
2-yr vs.
30-yr Spread (Target > 369): 380 basis points –
(Danger Zone)
3-month LIBOR: 0.25
3-month EURIBOR:
0.66
3-month OIS: 0.16
TED Spread: 15 basis
points
LIBOR/OIS Spread: 10 basis points
Dollar Index:
79.99
Volatility Index: 23.96
JPY-EUR Exchange Rate (Target <
115): 122.8643
JPY-GBP Exchange Rate (Target < 145): 140.8869 – (Danger Zone)
JPY-USD Exchange
Rate (Target < 90): 89.754 – (Danger
Zone)
USD-EUR Exchange Rate (Target < 1.25):
1.3689
USD-CNY Exchange Rate (Target > 7.0):
6.8338
Warmly,
Brad
Comments or questions? brhamill@hamill.com
If you are not
currently on the Economic Update email list you can email me at: economics@datatogo.com to be
added.

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