Quick Updates

The following rates of USA is more indicative to the news of "No more mark-to-market" and so-called "improving home sales":

1. FED Fund Rate = -0.19%

2. 1-month LIBOR = 0.49%

3. 3-month LIBOR = 1.17%

4. 3-month T-Bill = 0.21% (difference between 3 and 4 is TED = 97pts)

5. 5-year 3A Banking and Finance Rate = 5.14%

6. 10-year 3A Banking and Finance Rate = 5.72%

7. Investment Grade Corporate Bond Yield = 7.32%

8. High-yield Grade Corporate Bond Yield = 16.32%

9. 30-year Fixed Mortgage = 5.05%

10. New Claim Jobless = 669k worse than expected 655k

11. Factory orders = 1.8% > expected 1.5% but mainly due to the increase on petro-chemicals not other orders.

12. Credit Card Bad debt = 8.82% of total credit card loan.

13. BDI continues to be soft at around 15xx level.

Money injection is the cause of the rise of stock market. But this cannot last long.