Archive - May 18, 2009 - Story

Today's SPY advertised volume presented without much commentary, merely with the observation that, while Morgan Stanley is nowhere to be found in the top SPY IOIA advertised brokers (in a bizarro market, normal things make no sense, and vice versa), DB (together with JPM, RIEF's PBs) is scarfing up SPYs and having seconds.. and thirds...

Today's SPY advertised volume presented without much commentary, merely with the observation that, while Morgan Stanley is nowhere to be found in the top SPY IOIA advertised brokers (in a bizarro market, normal things make no sense, and vice versa), DB (together with JPM, RIEF's PBs) is scarfing up SPYs and having seconds.. and thirds...

Today's SPY advertised volume presented without much commentary, merely with the observation that, while Morgan Stanley is nowhere to be found in the top SPY IOIA advertised brokers (in a bizarro market, normal things make no sense, and vice versa), DB (together with JPM, RIEF's PBs) is scarfing up SPYs and having seconds.. and thirds...

Yet another low volume, TurboTICK upside day. Nothing to see here, except for some unprecedented odd behavior... Actually for something more to see here, check out Sentiment Trader's thoughts. And a question for readers: did anyone trade today or was it mostly RIEF trading with Medallion?

Yet another low volume, TurboTICK upside day. Nothing to see here, except for some unprecedented odd behavior... Actually for something more to see here, check out Sentiment Trader's thoughts. And a question for readers: did anyone trade today or was it mostly RIEF trading with Medallion?

Yet another low volume, TurboTICK upside day. Nothing to see here, except for some unprecedented odd behavior... Actually for something more to see here, check out Sentiment Trader's thoughts. And a question for readers: did anyone trade today or was it mostly RIEF trading with Medallion?

The market did some strange things today. Those who follow it (and maybe trade it), will tell you it went up. The catalyst: communists lose some Indian political leverage, which will usher American style... socialism... in India, and homebuilders apparently are building homes again. The first item is open to discussion (mostly by political pundits), however to assume that the Indian market can shoot 20% higher on a "surge of urgency" seems like a bit of a pipe dream.

The market did some strange things today. Those who follow it (and maybe trade it), will tell you it went up. The catalyst: communists lose some Indian political leverage, which will usher American style... socialism... in India, and homebuilders apparently are building homes again. The first item is open to discussion (mostly by political pundits), however to assume that the Indian market can shoot 20% higher on a "surge of urgency" seems like a bit of a pipe dream.

The market did some strange things today. Those who follow it (and maybe trade it), will tell you it went up. The catalyst: communists lose some Indian political leverage, which will usher American style... socialism... in India, and homebuilders apparently are building homes again. The first item is open to discussion (mostly by political pundits), however to assume that the Indian market can shoot 20% higher on a "surge of urgency" seems like a bit of a pipe dream.

Spreads were tighter in the US as all the indices improved. Indices generally outperformed intrinsics with skews mostly narrower (with the late-day gap tighter in indices not seen in single-names and rumored to be driven by a couple of dealers caught short) as IG's skew decompressed as the index beat intrinsics, HVOL underperformed but narrowed the skew, ExHVOL outperformed pushing the skew wider, XO underperformed but compressed the skew, and HY outperformed but narrowed the skew.

Submitted by David Galland, Managing Editor, The Casey Report

Submitted by David Galland, Managing Editor, The Casey Report

Submitted by David Galland, Managing Editor, The Casey Report

At least not the way that Americans are viewing it. There have been many, many comparisons in the media to the Great Depression, the worst economic climate in the past 70 years, etc. but the reality is that this is only slightly worse than normal for the Japanese (especially in the context of the last 20 years). With the release of consumer confidence numbers yesterday, it's interesting to see the Japanese consumer reaction.

At least not the way that Americans are viewing it. There have been many, many comparisons in the media to the Great Depression, the worst economic climate in the past 70 years, etc. but the reality is that this is only slightly worse than normal for the Japanese (especially in the context of the last 20 years). With the release of consumer confidence numbers yesterday, it's interesting to see the Japanese consumer reaction.