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Bond Market

Discussion in 'Forex Daily News & Outlook' started by MTnews, Jul 28, 2008.

  1. MTnews

    MTnews Content Contributor

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    Daily Market Commentary for July 28, 2008 from Millennium-Traders.Com

    Covered bonds are issued by banks and backed by cash flows from mortgages or other types of debt. Under this new approach, banks guarantee the bonds, thereby providing an incentive for less risky lending practices. (read more)

    Crude oil moved slightly higher today, possibly as a result of word from Iranian President Mahmoud Ahmadinejad that Iran had 6,000 uranium-enriching centrifuges. Average gallon of gas at the pump in Southeastern Pennsylvania sits at $3.79.

    Stock pick on the move today for day trading: Transocean Incorporated (NYSE: RIG) after Northern Offshore Limited agreed to acquire semisubmersible drilling rigs GSF Arctic IV and GSF Arctic II currently located and operating in the U.K. for the amount of approximately $750 Million. The complete acquisition is expected to close during the third quarter of 2008 and during the fourth quarter of 2008. The large transaction is expected to greatly improve the earnings visibility for the Transocean. Transocean will provide $745 million in seller financing through December 31, 2010 at an interest rate of 10% per annum. The Company will enter into a bareboat charter agreement with Transocean for the GSF Arctic IV for the duration of the Shell contract at a rate of US$180,000 per day. The seller financing will also require principal and interest payments of $200,000 per day on the GSF Arctic II, commencing one month after closing of the purchase of GSF Arctic II. Lehman Brothers Inc. served as exclusive financial advisor to Northern Offshore in the transaction. Transocean was quite active today providing volatility for the active day trader. At the closing bell, Transocean posted a gain of $0.89 with a closing bell stock price of $133.91.

    At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the session on the world market as well as the emerging markets including the stock market closing bell price:
    DOW (Dow Jones Industrial Average) triple digit loss of 239.45 points on the day to end the trading session at 11,131.24
    NYSE (New York Stock Exchange) triple digit loss of 135.39 points to end the trading session at 8,260.19
    NASDAQ loss of 46.31 points to end the trading session at 2,264.22
    S&P 500 loss of 23.32 points to end the trading session at 1,234.44
    FTSE All-World excluding-U.S. loss of 1.97 points to end the trading session at 222.67
    FTSE RAFI 1000 triple digit loss of 104.93 points to end the trading session at 4,811.34
    BEL 20 (BEL20) loss of 59.79 points to end the trading session at 2,999.77
    CAC 40 (CAC40) loss of 52.73 points to end the trading session at 4,324.45
    FTSE100 (UKX100) loss of 40 points to end the trading session at 5,312.6
    NIKKEI 225 (NIK/O) gain of 19.02 points on the day to end the trading session at 13,353.78

    New York Stock Exchange (NYSE) stock market indicators for the day:
    Advanced stock prices 878; declined stock prices 2,323; unchanged stock prices 81; stock prices hitting new highs 14; stock prices hitting new lows 72.
    NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Transocean Incorporated (NYSE: RIG) stock price gained 0.89 points on the trading session, high on the trading session $137.40, low on the trading session $133.78 for a closing stock price at $133.91; ITT Educational Services Incorporated (NYSE: ESI) stock price shed 10.41 points on the trading session, high on the trading session $98.08, low on the trading session $86.41 for a closing stock price at $87.20; Mobile TeleSystems OJSC (NYSE: MBT) stock price shed 1.46 points on the trading session, high on the trading session $69.03, low on the trading session $65.23 for a closing stock price at $66.87; Intercontinental Exchange Incorporated (NYSE: ICE) stock price shed 3.90 points on the trading session, high on the trading session $104.87, low on the trading session $98.31 for a closing stock price at $99.00; MasterCard Incorporated (NYSE: MA) stock price shed 9.85 points on the trading session, high on the trading session $269.47, low on the trading session $252.60 for a closing stock price at $253.70; ULTRASHORT Financial Corporation (NYSE: SKF) stock price gained 9.10 points on the trading session, high on the trading session $144.10, low on the trading session $128.27 for a closing stock price at $141.98; Mechel OAO (NYSE: MTL) stock price shed 6.70 points on the trading session, high on the trading session $24.15, low on the trading session $16.12 for a closing stock price at $19.50.

    National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
    Advanced stock prices 742; declined stock prices 2,144; unchanged stock prices 120; stock prices hitting new highs 34; stock prices hitting new lows 90.
    NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Sohu.com Incorporated (NasdaqGS: SOHU) stock price shed 4.17 points on the trading session, high on the trading session $87.99, low on the trading session $77.11 for a closing stock price at $78.65; Amgen Incorporated (NasdaqGS: AMGN) stock price gained 7.45 points on the trading session, high on the trading session $62.50, low on the trading session $59.53 for a closing stock price at $61.63; Baidu.com Incorporated (NasdaqGS: BIDU) stock price gained 2.24 points on the trading session, high on the trading session $345.50, low on the trading session $332.09 for a closing stock price at $334.64; Amazon.com Incorporated (NasdaqGS: AMZN) stock price shed 2.51 points on the trading session, high on the trading session $77.44, low on the trading session $74.86 for a closing stock price at $75.80; Google Incorporated (NasdaqGS: GOOG) stock price shed 13.98 points on the trading session, high on the trading session $492.09, low on the trading session $475.13 for a closing stock price at $481.33; First Solar Incorporated (NasdaqGS: FSLR) stock price gained 4.03 points on the trading session, high on the trading session $271.37, low on the trading session $259.38 for a closing stock price at $266.49.

    Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
    Advanced stock prices 474; declined stock prices 725; unchanged stock prices 98; stock prices hitting new highs 54; stock prices hitting new lows 30.

    Chicago Board of Trade Futures Market activity for the day, at time of this posting for September 2008 Contracts:
    E-mini S&P 500 (ES) end of day price 1,234.50, change -19.25
    E-mini NASDAQ-100 (NQ) end of day price 1,810.75, change -29.75
    E-mini S&P SmallCap 600 (SMP) end of day price 363.90, change -6.40
    $5 DJIA (YM) end of day price 11,126, change -190

    World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
    Euro 0.6353 to U.S. Dollars 1.5741
    Japanese Yen 107.55 to U.S. Dollars 0.0093
    British Pound 0.5019 to U.S. Dollars 1.9923
    Canadian Dollar 1.0198 to U.S. Dollars 0.9806
    Swiss Franc 1.0341 to U.S. Dollars 0.967

    Commodity Markets:
    Energy Sector: Light Crude (NYMEX: NYM) gained $1.47 on the day for a closing price of the range of $124.73 a gallon ($US per barrel)
    Heating Oil (NYMEX: NYM) gained $0.04 on the day for a closing price of $3.58 a gallon ($US per gallon)
    Natural Gas (NYMEX: NYM) gained $0.07 on the day for a closing price of $9.20 per million BTU ($US per mmbtu.)
    Unleaded Gas (NYMEX: NYM) gained $0.04 on the day for a closing price of $3.07 a gallon ($US per gallon)

    Metals Markets:
    Gold Market Price (COMEX: CMX) gained $0.90 on the day for a closing price of $937.80 ($US per Troy ounce)
    Silver (COMEX: CMX) gained $0.09 on the day for a closing price of $17.47 ($US per Troy ounce)
    Platinum (NYMEX: NYM) gained $18.00 on the day for a closing price of $1,776.70 ($US per Troy ounce)
    Copper (COMEX: CMX) gained $0.01 on the day for a closing price of $3.61 ($US per pound)

    Livestock and Meat Markets (cents per lb.):
    Lean Hogs (Chicago Mercantile Exchange: CME) shed 0.48 on the day for a closing price of 73.35
    Pork Bellies (Chicago Mercantile Exchange: CME) shed 1.88 on the day for a closing price of 72.45
    Live Cattle (Chicago Mercantile Exchange: CME) shed 0.30 on the day for a closing price of 104.80
    Feeder Cattle (Chicago Mercantile Exchange: CME) shed 0.83 on the day for a closing price of 111.10

    Other Commodities (cents per bushel):
    Corn (Chicago Board of Trade: CBT) gained 4.75 on the day for a closing price of 601.25
    Soybeans (Chicago Board of Trade: CBT) gained 9.50 on the day for a closing price of 1,396.00

    Bond Market:
    2 year bond gained 6/32 on the day for a closing price of 100 8/32 with a Yield of 2.58, Yield Change -0.13
    5 year bond gained 14/32 on the day for a closing price of 100 4/32 with a Yield of 3.32, Yield Change -0.12
    10 year bond gained 21/32 on the day for a closing price of 98 27/32 with a Yield of 4.01, Yield Change -0.08
    30 year bond gained 1 9/32 on the day for a closing price of 96 9/32 with a Yield of 4.61, Yield Change -0.07

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