10 year yields are lower.  Gold up. WTI crude down.  A snapshot as London/Europe look to exit

The European stock markets are closed and the German Dax is the worst performer in what has been a down day for the major indices.

  • German Dax fell -1.0%
  • France’s Cac fell -0.22%
  • UK FTSE fell -0.65%
  • Spain’s Ibex fell -0.54%
  • Italy’s FTSE MIB fell -0.71%
  • Portugal’s PSI20 fell -0.62%

In the 10 year note sector yields were lower:

  • Germany 0.469%, -3.8 bps
  • France 0.758%, -5 bps
  • UK 1.397%, -4.2 bps
  • Spain 1.392%, -5.2 bps
  • Italy 2.40%, unchanged
  • Portugal 1.907%, -5.0 bps

In other markets today:

  • Spot gold is up $11.74 or 0.91% at $1305.10. The cancellation of the US/N. Korea summit has pushed the flows into the safety of gold
  • WTI crude oil is down -$0.75 or -1.02% at $71.12. The low reached $70.52. The high at $72.00.  The higher than expected inventory data is helping to keep downward bias, but the price remains above $70.00
  • Bitcoin is trading down -$44 at $7545. The low reached $7269. The high reached $7735.

In the US stock market, the snapshot shows lower levels but off the lows for the day:

  • S&P is down-13.45 points at 2719. The low reached 2707.38. The 100 day MA is at 2710
  • Nasdaq is down -30 points st 7395.  The low reached 7357.50
  • Dow is down -188 points at 24699.  The low reached 24605.

US yields are lower

  • 2 year 2.5%, down -2.8 bps
  • 5 year 2.804%, down -2.1 bps
  • 10 year 2.964%, -2.9 bps
  • 30 year 3.116%, -3.6 bps

In the forex market, the JPY and CHF are the strongest on the flight into the safety of those currencies today. The CAD is the weakest.  Concerns about NAFTA and lower oil are working to weaken the CAD.  The USD is lower mostly with the USDJPY and USDCHF the largest decliners. The greenback is strongest vs the CAD.

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