German Dax down -0.4%. UK FTSE unchanged
The European stocks are closed for the day and the major indices are mostly lower:
- German Dax fell -0.4%
- France's Cac fell -0.3%.
- UK FTSE is ending unchanged
- Spain's Ibex is flat
- Italy's FTSE MIB is down -0.06%
- Portugal's PSI20 is up 0.2%
In the 10 year note sector, yields are higher with the UK 10 year up the most (up 7.3 bps). The BOE are expected to raise rates by 0.25% on Thursday.
In other markets as London/European traders look to exit:
- spot gold is up $.73 or 0.06% at $1224
- WTI crude oil futures are up $1.34 or 1.95% at $70.02
- Bitcoin is down $60 and $8133
In the US stock market, the tech heavy NASDAQ index is leading the way to the downside:
- The NASDAQ is down -88.4 points or -1.14% at 7649
- The S&P indexes down -11.54 points or -0.41% at 2807.41
- Dow industrial average is down 72 points or -0.28% at 25,378.
US yields are higher but off the highest levels for the day. The 2 year is up 0.4 bps, while the 10 year is up 1.7 bps. So the yield curve has steepened by 1.3 bps at 29.7 bps.
IN the forex market, the CHF is the strongest while the USD has moved to the weakest currency on the day.
