UK FTSE 100 up 0.7%. German Dax up 0.32%. 10 year yields higher.
The European stocks markets are closed and the UK FTSE 250 closing at record high (the FTSE 100 is ending short of the mark). The German Dax is also closing at a record high.
- The German Dax is up 0.32%. Record high close at 13043.
- The French Cac is up 0.38%
- The UK FTSE 100 is up 0.7%
- The Spanish Ibex is up 0.57%
- The Italian FTSE MIB is up 0.08%
- The Portuguese PSI20 is up 0.17%
In the 10 year debt market today, yields rebounded higher.
- Germany 0.396%, up 3.1 bp
- France 0.808%, up 3.0 bp
- UK 1.316%, up 4 bp
- Spain 1.623%, up 7.5 bp
- Italy 2.046%, up 4.6 bp
- Portugal 2.353%, up 3.2 bp
- Greece 5.516%, up 5.6 bp
In other markets as London/European traders look to exit:
- Spot gold is down -$4.00. That is a bit higher than levels at the start of the NY trading day (see prior post here).
- WTI crude is down -$0.07 or -0.13% to $51.83. The showed a drawdown of -5.73M barrels but it seemed to be priced in after the private data release yesterday.
- US stocks show the Dow leading the way up 141 points or 0.61% on the back of a surge in IBM. The S&P and Nasdaq are lagging. The S&P is up 1.9 points or 0.7%. The Nasdaq is trading unchanged.
- US yields are higher across the board. 2 year is up 1.7 bp. 5 year is up 3.0 bp. 10 year is up 3.9 bp. 30 year is up 4.5 bp
In the forex market, the CAD is the strongest currency now. The manufacturing sales data was stronger than expectations. The JPY remains the weakest currency today. The USD was the strongest of the majors at the start of the US trading day. It has given up some of the gains as housing data was not as good as expectations.
Later in the afternoon, the Fed will release the Beige Book. That "book" is a anecdotal view of the US economy by Federal Reserve district.
