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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (41811)	9/17/2011 7:05:15 PM
From: carranza2	Respond to of 71456

this week's all-u-can-eat data from safe haven: Greek two-year yields ended the week down 132 bps to 51.73% (up 3,949 bps y-t-d). Greek 10-year yields rose 66 bps to 20.19% (up 773bps). German bund yields rose 9 bps to 1.86% (down 110bps), and U.K. 10-year gilt yields jumped 22 bps this week to 2.28% (down 103bps). Italian 10-yr yields rose 10 bps to 5.50% (up 68bps), and Spain's 10-year yields jumped 14 bps to 5.28% (down 16bps). Ten-year Portuguese yields added 2 bps to 10.89% (up 431bps). Irish yields were down 4 bps to 8.40% (down 65bps). The German DAX equities index rallied 7.4% (down 19.4% y-t-d). Japanese 10-year "JGB" yields added one basis point to 1.01% (down 11bps). Japan's Nikkei gained 1.4% (down 13.4%). Emerging markets were mostly higher. For the week, Brazil's Bovespa equities index gained 2.6% (down 17.5%), and Mexico's Bolsa rallied 3.9% (down 8.7%). South Korea's Kospi index increased 1.5% (down 10.3%). India's equities index gained 0.4% (down 17.4%). China's Shanghai Exchange dipped 0.6% (down 11.6%). Brazil's benchmark dollar bond yields jumped 12 bps to 3.72%, while Mexico's benchmark bond yields added 4 bps to 3.44%. Freddie Mac 30-year fixed mortgage rates were down 3 bps to 4.09% (down 29bps y-o-y). Fifteen-year fixed rates slipped 3 bps to 3.30% (down 52bps y-o-y). One-year ARMs declined 3 bps to 2.81% (down 59bps y-o-y). Bankrate's survey of jumbo mortgage borrowing costs had 30-yr fixed jumbo rates unchanged at 4.80% (down 56bps y-o-y). Federal Reserve Credit expanded $3.6bn to $2.844 TN. Fed Credit was up $437bn y-t-d and $555bn from a year ago, or 24.3%. Elsewhere, Fed Foreign Holdings of Treasury, Agency Debt this past week (ended 9/14) declined $2.4bn to $3.475 TN. "Custody holdings" were up $125bn y-t-d and $265bn from a year ago, or 8.3%. Global central bank "international reserve assets" (excluding gold) - as tallied by Bloomberg - were up $1.650 TN y-o-y, or 19.2% to a record $10.229 TN. Over two years, reserves were $3.024 TN higher, for 42% growth. M2 (narrow) "money" supply increased $21.5bn to a record $9.591TN. "Narrow money" has expanded at a 12.4% pace y-t-d and 10.5% over the past year. For the week, Currency was unchanged. Demand and Checkable Deposits increased $12.8bn, and Savings Deposits rose $9.5bn. Small Denominated Deposits declined $2.6bn. Retail Money Funds increased $1. Total Money Fund assets declined $16.5bn last week to $2.633 TN. Money Fund assets were down $177bn y-t-d, with a decline of $181bn over the past year, or 6.4%. Total Commercial Paper outstanding dropped another $22.6bn (9-wk decline of $193bn) to $1.043 Trillion. CP was up $72bn y-t-d, or 8.6% annualized, with a one-year rise of $7bn.