Archived IMT (2009.06.19)

CALIFORNIA SCREAMIN': Moodys' Puts California on Watch for a possible credit DOWNGRADE that could be by several notches. Dollar was deepenening weakness despite stocks paring their earlier gains as bond yields fall sharply. MORE UPDATES http://twitter.com/alaidi Bargain hunting is said to be behind the bond buying, but the Fed also bought Agency securities earlier today. Gold remains little changed at $930s while oil retains bid at $71.80s. Interestingly, Emerging markets retain strong footing as Brazils Bovespa and Indias Sensex +1.4% and 1.8% respectively, Note Swiss franc strengthening as EURCHF and CADCHF near session lows, while EURJPY also pushes lower. USDJPY eyes 95.70.