Daily Financial Comment. Everything's good (Apparently).

Another positive Monday for markets- where else could we all have this much fun AND be paid for it (that's a rhetorical question...please don't send me answers or suggestions). S&P
index up 1%- the Dow slightly less. CDX high grade index tightened over 3bp, the high yield over 10bp and Goldmans sold $2bn 10 year notes at a spread 44% under the level of their last 10yr deal,
issued in May 2009. In other news- it didn't snow yesterday in New York, no polls were announced increasing Labour's vote, no European countries went bankrupt and the US
deficit only increased $4 billion in the last 24 hours. Today, therefore, should be another good day. GM has recalled 1.3 million vehicles over steering problems- leaving them about 2 billion
vehicles behind Toyota in the recall league tables. Consumer confidence and vehicle sales figures (they could be quite funny.. does it count twice if you've had it recalled and been given another one instead?) in the USA, PMI construction in the UK.