2011 has started of on a positive not for stocks, as we hit triple digit gains on the Dow and as of now we are higher once again.
Bonds as you expect have come off, Euribor spreads have been fairly flat as of now, with a slight bias on the short side as the front end is seeing most of the selling.
I've started of my trading on the cautious side as I try evaluate where we stand. I managed to short 25s in dec11-mar12 short sterling to nick a tick, and sold some 29s in the sep12-dec12 spread. It all seems a bit flat now so going to wait for the afternoon, to look for more opportunities.
I think Fridays non farm payroll report will really set the scene for this month. I would expect a much better number then last month as we have been seeing improving weekly jobless claims, and last week we hit below the 400k mark for the first time in over a year.
In other news, it looks like facebooks world domination continues, as they have added Goldman Sachs to their list of investors. This puts Goldman in prime position should facebook do an IPO this year. Clever thinking indeed. The Goldman investment values FB at 50 billion dollars! A bit far fetched it seems, but it doesn't look like the growth of the company is slowing down any time soon.
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