Market Report as of 8th March 2010

FOREIGN EXCHANGE
U.S. Dollar slid against most of its major counterparts on Friday except against the Japanese yen. On the economic data front, nonfarm payrolls declined by 36,000 jobs in February. Thus, the U.S. unemployment rate stayed at 9.7% (vs. 9.8% expected).

The Euro was still under pressure against the British pound. Greece’s parliament approved a package of budget cuts to help reduce its deficit.

The Japanese Yen slumped against its major counterparts.

Market Report as of 8th March 2010

US MARKETS
US indices jumped after a better than expected February employment report. Shares in the real estate, banks and diversified financial sectors led the rally. 95% of S&P 500 shares trade above their 20d moving average, a proportion not seen in more than a year.

95% of S&P500 constituents traded higher Friday.
95% trade above their 20D MA vs 89% Thursday (above the 20D moving average).
88% trade above their 200D MA vs 85% Thursday (above the 20D moving average).

The VIX index eased 1.3pt to 17.42, a new 52w low. The VXN index closed at a new 52w low at 17.92.

The 10yr yield rose 7.7bps to 3.6% (below the 20D moving average). The 2yr-10yr spread fell 3.8bps to -279bps (above its 20D MA).

Market Report as of 4th March 2010

COMMODITIES
Crude oil prices (April contract) jumped above $80.50 a barrel yesterday. U.S. crude oil inventories rose 4 million barrels in the week ended February 26th according to the Energy Information Administration.

Gold was still firm and rose above $1140 an ounce supported by a weak U.S. dollar.

Market Report as of 4th March 2010

US MARKETS
US indices closed unchanged after the Beige book report. Gains in the auto and materials sectors were offset by losses in the semiconductors and pharmaceuticals sectors.

The 10yr yield rose 1.3bp to 3.62% (below its 20D MA). The 2yr-10yr spread rose 0.3bp to -281bps (above its 20D MA).

Market Report as of 3rd March 2010

FOREIGN EXCHANGE
U.S. Dollar was slightly lower against most of its major counterparts on Tuesday. There was no major economic data released in the U.S. yesterday.

The Japanese Yen was firm against its major counterparts. Japan’s unemployment rate fell sequentially to a better-than-expected 4.9% in January.

The Canadian Dollar was still firm against its major counterparts. The Bank of Canada held interest rates steady at 0.25% but said “core inflation has been slightly firmer than projected”.

The Australian Dollar rose against the U.S. dollar. The Reserve Bank of Australia raised the benchmark overnight cash rate target to 4% from 3.75%.