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Note all components are above the 10-year Treasury yield.

The just announced 2GB — Second Greece Bailout — is a misnomer. We wouldn’t exactly call a deal where private creditors reschedule all maturing bond payments for the next ten or so years into a 30-year bullet with a 50+ percent effective…

Great data from Bespoke. Looks like Portugal is the odd man out as the only government in which its CDS spreads have widened this year.

Interesting couple of charts on the S&P500. The top shows the narrowing upward channel in which the index has traded since the beginning of the year relative to the wider medium-term channel. The collapse in volatility was the direct…

Interesting couple of charts on the S&P500. The top shows the narrowing upward channel in which the index has traded since the beginning of the year relative to the wider medium-term channel. The collapse in volatility was the direct…

Watch gold as it pushes up against the downtrend line. Any hints from the Fed of QE3 could send it “to the Moon, Alice!” The Fed rejoining the party and the LTRO2 coming next month could be an explosive mix.

Shanghai’s channel surfing Panda bears are speaking with a little higher pitch this weekend after getting their ‘hood caught in a vicious squeeze and reversal. The stock index has bounced 8.7 percent off its January 6th lows after falling…

A chart of gasoline consumption and oil prices for the years 2000-2011.

After the better than expected Spanish bond auction, eurozone sovereign spreads came in significantly yesterday. Even before today's auction, the widely watched Italian 10-year bond yield had fallen to 6.63 percent.

Stunning! Guess it’s time for our annual physical with Dr. iPhone.