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| Treasure
State |
| Corporate
Credit Union |
101 N Rodney Suite 2 |
Helena,
Montana |
59601 |
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Copyright
© 2010 |
| Treasure
State |
| Corporate
Credit Union |
All
Rights Reserved
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| Welcome to Treasure State Corporate Credit Union's Web Site. |
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| Market
Commentary for July 30, 2010
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7/28/10 Improving earnings are moving stocks higher, and the euro and copper are stronger on better confidence in Europe’s economy. Initial jobless claims were very close to estimates and Exxon Mobil rose the most since 2003.
Since peaking in early June, not long after the height of the European banking crisis, the dollar continues its slide. The dollar is now down nearly 8% from its peak just 6 weeks ago. A weaker dollar is positive for exports, perhaps being a catalyst for an economy looking for anything to provide growth.
Commodities are also up more than 8% since the same early June timeframe. Considering the safe haven of gold is down more than 6%, the move has been concentrated in the industrial area. For example, copper is up nearly 19% from the June lows. There is an interesting dichotomy when you compare the commodity complex against Treasuries; lower Treasury yields in the same horizon would seem to be contrary to the story being told by commodities.
The architects of the Financial Reform bill, Chris Dodd and Barney Frank, are planning hearings to discuss the status of global bank-capital standards in September. Basel III capital standards may force banks to increase capital levels, as much as double in some cases.
Dave Filby, CFA
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NCUA NEWS |
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NCUA has extended the expiration date of the Temporary Share Guarantee Program through September 30, 2012. With this extension, new investments in corporates are covered under the guarantee if they mature between now and the new expiration date. This is in addition to the existing deposits already covered. |
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| In addition to this web site, TSCCU offers printed, timely information via its Weekly Rate Review, our monthly newsletter, Corporate Resource, and Network News, a publication of the Montana Credit Union Network |
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