February was not great either.
The European stocks took it on the chin today with the German Dax leading the downside tumble with a -2.23% decline. That is on the back of a -5.71% fall in February. Combine the two and Europe's biggest economic powerhouse is down nearly -8%.
A summary today is showing:
- German DAX down -2.23%
- France's CAC down -1.17%
- UK's FTSE down -1%
- Spain's Ibex down -1.2%
- Italy's FTSE MIB down -0.7%
- Portugal's PSI 20 down -1.6%
The fall in stocks is not giving confidence for the 10 year debt sector. Yields are lower again today:
- Germany 0.643%, -1.3 basis points
- France 0.91%, -1.0 basis points
- UK 1.466%, -3.4 basis points
- Spain 1.508%, -3.0 basis points
- Italy 1.947%, -2.7 basis points
- Portugal 1.948%, -4.3 basis points
In other markets as the London/European traders look to exit:
- Spot gold $-7.50 or -0.57% at $1310.80
- WTI crude oil futures down $.40 or -0.63% at $61.25
US stocks are hanging above and below the unchanged levels today
- S&P index +4 points or 0.15% at 2717.88
- NASDAQ composite index +10.4 points or 0.15% at 7284
- Dow industrial average up 30 points or 0.13% at 25061
US yields are near unchanged levels after being a bit lower earlier in the session
- 2 year 2.252%, unchanged
- 5 year 2.628%, -1.1 basis points
- 10 year 2.855%, unchanged
- 30 year 3.13%, +0.5 basis points
The NZD is the strongest. the JPY is the weakest. The USD is mixed at NY midday.
