What Happened to Indicators

• The yield on 3 month treasuries fell to 0.44% from 0.47%.

It was 0.47 yesterday and slightly getting worse. Usually the 3 month trades below the target Fed Funds rate by around 25 bps, so this is too low with the Fed funds rate at 1.0%. It should increase closer to the target rate. Still low.

• Libor declined again today.Three-month U.S. dollar slid 0.21 point to 2.51 percent from 2.72.

This is so good. I was waiting Libor comes below 3. Signs are slightly better. Waiting for 2.

• The TED spread 2.07, down from 2.33.

Also nice change today again. Its still too high but better than the peak of 4.63. TED spread should move back down to 2. Close

• USD-JPY currencies up to 98.4600.

It fell from 99.6850. Seems not well/

• Nonfinancial A2/P2 spread is down to 4.18 from 4.45.

Slightly better. But it should decline more and more.

• VIX up to 55.07.

Bad. It was 48.95 yesterday but the record was 80.6 this year. Dow slumped today and volatility getting rise.

Economic datas make us frightening and indicators show nothing about real economy for today.