Italian 10 year yields down on budget hopes
The European share are ending the day with solid gains.
- German DAX, up 1.6%
- UK's FTSE, up 1.3%
- France's CAC, up 1.1%
- Spain's Ibex, up 2.2%
- Italy's FTSE MIB, up 2.77%
- Portugal's PSI 20, up 1.25%
In the benchmark 10 year note sector, yields are mixed with the Italian ten-year yields falling sharply on budget/debt hopes.
- Germany, 0.36%, +2.0 basis points
- UK, 1.409%, +2.8 basis points
- France, 0.73%, +1.7 basis points
- Spain, 1.563%, -6.9 basis points
- Italy, 3.271%, -13.6 basis points
- Portugal, 1.86%, -5.6 basis points
In other markets:
- spot gold is down $1 or -0.8% at $1222
- WTI crude oil futures are up $1.20 or 2.4% at $51.63
- Bitcoin on Coinbase is down $-485 at $3564. The price is down sharply from the highs at $4090
In the US stock market, major agencies or higher are off the highest levels.
- S&P index is up 28 points or 1.07% at 2660.7. The high reached 2671.64
- Nasdaq indexes up 89 points or 1.3% at 7028.90. The high reached 7065.99
- Dow is up 267 points or 1.10% at 24,554. The high reached 24,673.29
in the US debt market yields are higher. Both the two-year and the 10 year are up 2.5 basis points on the day.
In the Forex market, the major pairs have all moved back toward unchanged on the day vs the USD. The exception is the USDJPY. In fact, that is the pattern for all the major pairs. There are little changes vs. each other with the exception of the JPY. That's a different.
Looking at the ranges and changes chart below, the JPY pairs are all higher, while the other pairs are trading +/- 12 or less pips from the unchanged line.
