Forbes . com : Fisher Newsletter

FORBES.COM KEN FISHER NEWSLETTER JANUARY 04, 2010
A Grateful Dead Year 12.31.2009, 22:40:00 EST Ken Fisher 2009 was a textbook case of how stock markets are supposed to react to big bear markets and recessions. The Old Normal 12.04.2009, 18:00:00 EST Ken Fisher A decade ahead of lackluster earnings and economic growth? Don't believe that rubbish. The Old Normal 11.29.2009, 18:00:00 EST Ken Fisher A decade ahead of lackluster earnings and economic growth? Don't believe that rubbish. Viva The V 10.15.2009, 23:20:00 EDT Ken Fisher If history repeats, the current V recovery is far from over. Expect another 20%-to-25% gain by January.
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Daily Treasury Yield Curve Rates

  Get e-mail updates when this information changes.

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Historical Data

  This data is also available in XML format by clicking on the XML icon

January 2010

Date	1 mo	3 mo	6 mo	1 yr	2 yr	3 yr	5 yr	7 yr	10 yr	20 yr	30 yr
01/04/10	0.05	0.08	0.18	0.45	1.09	1.66	2.65	3.36	3.85	4.60	4.65

* 30-year Treasury constant maturity series was discontinued on February 18, 2002 and reintroduced on February 9, 2006. From February 18, 2002 to February 8, 2006, Treasury published alternatives to a 30-year rate. See Long-Term Average Rate for more information.
Treasury discontinued the 20-year constant maturity series at the end of calendar year 1986 and reinstated that series on October 1, 1993. As a result, there are no 20-year rates available for the time period January 1, 1987 through September 30, 1993.
Treasury Yield Curve Rates. These rates are commonly referred to as "Constant Maturity Treasury" rates, or CMTs. Yields are interpolated by the Treasury from the daily yield curve. This curve, which relates the yield on a security to its time to maturity is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations obtained by the Federal Reserve Bank of New York. The yield values are read from the yield curve at fixed maturities, currently 1, 3 and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years. This method provides a yield for a 10 year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity.
Treasury Yield Curve Methodology. The Treasury yield curve is estimated daily using a cubic spline model. Inputs to the model are primarily bid-side yields for on-the-run Treasury securities. See our Treasury Yield Curve Methodology page for details.
Negative Yields and Nominal Constant Maturity Treasury Series Rates (CMTs). Current financial market conditions, in conjunction with extraordinary low levels of interest rates, have resulted in negative yields for some Treasury securities trading in the secondary market. Negative yields for Treasury securities most often reflect highly technical factors in Treasury markets related to the cash and repurchase agreement markets, and are at times unrelated to the time value of money.
As such, Treasury will restrict the use of negative input yields for securities used in deriving interest rates for the Treasury nominal Constant Maturity Treasury series (CMTs). Any CMT input points with negative yields will be reset to zero percent prior to use as inputs in the CMT derivation. This decision is consistent with Treasury not accepting negative yields in Treasury nominal security auctions.
In addition, given that CMTs are used in many statutorily and regulatory determined loan and credit programs as well as for setting interest rates on non-marketable government securities, establishing a floor of zero more accurately reflects borrowing costs related to various programs.
For more information regarding these statistics contact the Office of Debt Management by email at debt.management@do.treas.gov.
For other Public Debt information contact (202) 504-3550.
This document was generated from the XML data using the XSL transformation. Click on the XSL icon to view the XSL file.

What's New at the CFTC

CFTC Adopts Amendments to Minimum Adjusted Net Capital Requirements of Futures Commission Merchants and Introducing Brokers, December 31, 2009
Federal Court Issues Preliminary Injunction against Matthew Pizzolato, William Guidry and Guidry’s Company, Capital Funding Consultants, L.L.C., in CFTC Multi-Million Dollar Fraud Action, December 31, 2009
CFTC Adopts Amendments to Electronic Filing Regulations and Certain Other Financial Reporting Requirements Applicable to Futures Commission Merchants and Introducing Brokers, December 30, 2009
CFTC Staff Allows Singapore Exchange Derivatives Trading Limited’s Mini Futures Contract Based on the Nikkei 225 Stock Index To Be Offered and Sold in the United States, December 29, 2009
Federal Court in Florida Imposes More Than $5.4 Million in Restitution and Fines in CFTC Action Charging Commodity Options Fraud, December 23, 2009

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NFA Notification: NFA Permantly bars Commodity trading advisor Parman Financial and its principal...

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For Immediate Release For More Information Contact:
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org

NFA permanently bars California commodity trading advisor Parman Financial and its principal
January 4, Chicago - National Futures Association's (NFA) has permanently barred Parman Financial (Parman) and its principal, Lyndon L. Parrilla, from NFA membership. Parman is a Commodity Trading Advisor located in Woodland Hills, California. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in June 2009.
The Panel found that Parman and Parrilla failed to cooperate with NFA during its examination of the firm. While Parrilla submitted a written response in regards to NFA's request for documents, Parman and Parrilla failed to submit all of the requested documents and information needed for NFA to conduct its audit of the firm. Parman and Parilla may appeal the Panel's Decision to NFA's Appeals Committee.
The complete text of the Complaint and Decision can be found on NFA's website (www.nfa.futures.org).
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.