It's The Economy Stupid: The Bernanke

The Bernanke talked.  He answered questions. He lowered economic expectations.  He raised unemployment expectations.  Europe hasn’t come up with a solution for Greece yet.

 

And the market was up today.  Go figure.

 

Description	Ticker	Last	CHANGE	% Chg Today	Pct Chg 1Yr
STOCK MARKETS
Dow Jones Industrial Average	INDU Index	11835.81	177.8500	1.5256	5.8849
S&P 500 Index	SPX Index	1237.9	19.6200	1.6105	3.8289
NASDAQ Composite Index	CCMP Index	2639.98	33.0200	1.2666	4.2502
Russell 3000 Index	RAY Index	732.58	12.3700	1.7176	3.6992
Russell 2000 Index (Small)	RTY Index	733.23	19.3400	2.7091	2.8840
S&P 400 Mid Cap Index	MID Index	877.28	18.6000	2.1661	4.7731
S&P 600 Small Cap Index	SML Index	402.53	8.3900	2.1287	6.4725
TREASURIES	% Yield
2 Year Treasury	0.2131	100.28125	0.0117	0.0117
5 Year Treasury	0.8150	103.1875	0.0938	0.0909
10 Year Treasury	1.9334	110.359375	-0.0156	-0.0142
30 Year Treasury	3.0033	126.84375	-0.4219	-0.3315
ENERGY
Crude Oil, Brent Index	Brent	109.26	-0.2800	-0.2556	23.5753
Crude Oil, Louisiana Light Sweet	LA Light Sweet	110.26	-0.0300	-0.0272	26.3000
Natural Gas, Henry Hub Index	Nat Gas	3.756	-0.0250	-0.6612	-24.1678
PRECIOUS METALS
Spot Gold $/oz	GOLD	1735.5	15.6000	0.9070	27.8500
Spot Silver $/oz	SILVER	34.14	0.8225	2.4687	37.3281
CURRENCIES
Euro	EUR Curncy	1.3728	0.0025	0.1824	-2.0095
Japanese Yen	JPY Curncy	78.08	-0.2900	-0.3700	3.2663
British Pound	GBP Curncy	1.5932	-0.0017	-0.1066	-0.5486
Swiss Franc	CHF Curncy	0.8851	-0.0020	-0.2255	10.8270
Canadian Dollar	CAD Curncy	1.0141	-0.0062	-0.6077	-0.4935
Chinese Yuan	CNY Curncy	6.3573	-0.0017	-0.0267	5.0540

 

 

 

Boudin Chaud. Cous Cous Froide. Allons Tigres--Poussez Poussez Poussez

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street, Turn Left to get to North Blvd

 

It's The Economy Stupid: The Greece, is it time to change it?

Markets took a dive on questions about the Greece bailout/Greece austerity/Greece government/Euro future.

 

Gee, the markets were surprised that the Greeks can’t manage an austerity program any better than they have managed their economy for the last couple of decades???

 

Description	Ticker	Last	CHANGE	% Chg Today	Pct Chg 1Yr
STOCK MARKETS
Dow Jones Industrial Average	INDU Index	11657.96	-297.0500	-2.4847	4.7942
S&P 500 Index	SPX Index	1218.29	-35.0100	-2.7934	2.8631
NASDAQ Composite Index	CCMP Index	2606.96	-77.4500	-2.8852	4.0769
Russell 3000 Index	RAY Index	720.22	-21.4400	-2.8908	2.7975
Russell 2000 Index (Small)	RTY Index	713.95	-27.1100	-3.6583	2.2088
S&P 400 Mid Cap Index	MID Index	858.71	-29.2200	-3.2908	3.6300
S&P 600 Small Cap Index	SML Index	394.58	-13.8000	-3.3792	6.3497
TREASURIES	% Yield
2 Year Treasury	0.2156	100.2773438	0.0117	0.0117
5 Year Treasury	0.8170	103.171875	0.3125	0.3038
10 Year Treasury	1.9005	110.6015625	1.3281	1.2154
30 Year Treasury	2.9471	128	3.6875	2.9663
ENERGY
Crude Oil, Brent Index	Brent	108.33	-1.2300	-1.1227	23.5381
Crude Oil, Louisiana Light Sweet	LA Light Sweet	109.14	-2.5500	-2.2831	26.4700
Natural Gas, Henry Hub Index	Nat Gas	3.788	-0.1460	-3.7112	-23.2266
PRECIOUS METALS
Spot Gold $/oz	GOLD	1719.15	4.3000	0.2508	26.9823
Spot Silver $/oz	SILVER	33.27	-1.0275	-2.9959	34.7483
CURRENCIES
Euro	EUR Curncy	1.3709	-0.0148	-1.0681	-1.3676
Japanese Yen	JPY Curncy	78.34	0.1700	0.2175	2.7569
British Pound	GBP Curncy	1.5957	-0.0130	-0.8081	-0.5051
Swiss Franc	CHF Curncy	0.8864	0.0095	1.0834	11.8403
Canadian Dollar	CAD Curncy	1.0174	0.0166	1.6587	-0.2260
Chinese Yuan	CNY Curncy	6.359	-0.0005	-0.0079	5.2036
OTHERS OF INTEREST:
Copper	Copper Per LBS	321.9	16.4500	0.0539	-14.7400

 

 

 

 

 

Boudin Chaud. Cous Cous Froide. Allons Tigres--Poussez Poussez Poussez

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street, Turn Left to get to North Blvd

 

It's The Economy Stupid: Greece is the word...again

The Greece situation is likely to get ugly (uglier?).  Such a beautiful country, such an ugly economic model.

 

 

Wire: BLOOMBERG News (BN) Date: Nov 1 2011  8:32:45

Stocks, Euro Decline as German Bunds Rally on Greek Referendum

 

 

By Stephen Kirkland

     Nov. 1 (Bloomberg) -- Stocks sank, while a rally in German

bunds sent yields down the most on record, as Greek Prime

Minister George Papandreou’s plan to hold a referendum on

Europe’s bailout fueled concern the debt crisis will worsen. The

Dollar Index headed for its biggest two-day rally since 1992.

     The MSCI All-Country World Index retreated 2.4 percent at

9:30 a.m. in New York, with gauges in Italy, France and Germany

sliding more than 5 percent. The Standard & Poor’s 500 Index

lost 1.9 percent. German 10-year yields fell as much as 26 basis

points to 1.77 percent. Rates on 10-year Italian and French debt

reached euro-era records above benchmark German bunds. The euro

fell 1.7 percent to $1.3629, a three-week low. Copper lost 4.4

percent and oil decreased 3.9 percent to lead commodities lower

after China’s manufacturing growth cooled.

     Greece’s referendum poses a threat to financial stability

in the euro region and increases the risk of a “disorderly”

default, Fitch Ratings said. Papandreou’s grip on power weakened

before a confidence vote on Nov. 4 as six senior members of the

ruling party called on the prime minister to step down, state-

run Athens News Agency reported, without citing anyone.

     “The risk of a Lehman-style disorderly default now looms a

bit larger than before, including some residual risk that Greece

may leave the euro zone if it rejects the offer of orderly debt

relief in exchange for harsh new spending cuts and reforms,”

Holger Schmieding, chief economist at Joh Berenberg Gossler &

Co. in London, wrote in a note. “This could be negative for

markets for equities and other risk assets. It could exacerbate

potential financial turbulence and the euro-zone recession.”

 

 

Boudin Chaud. Cous Cous Froide. Allons Tigres--Poussez Poussez Poussez

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street, Turn Left to get to North Blvd