Europe stocks end the session lower….10 year yields rebound


All major indices lower in trading today

The major European stock indices are ending the session lower but off the lows:

  • German DAX fell -0.4% 
  • France’s CAC is down -0.1%
  • UK’s FTSE is down -0.5%
  • Spain’s Ibex is down -0.4%
  • Italy’s FTSE MIB is down -0.62%
  • Portugal’s PSI 20 is down -0.02%

In the European debt market, 10 year yield rebounded off the low and are mixed on the day:

  • Germany 0.377%, -2 basis points.  The low yield reached 0.347%
  • France 0.733%, -2.7 basis points.  The low yield reached 0.704%
  • UK 1.285%, -3.6 basis points.  The low yield reach 1.259%
  • Spain 1.536%, unchanged.  The low yield reach 1.507%
  • Italy 1.821%, -0.8 basis points. The low yield reached 1.797%
  • Portugal 1.986%, +1.7 basis points the low yield reach 1.958%

In other markets as London traders look to exit

  • Spot gold is training down $2.50 or -0.2% at $1277.85
  • WTI crude oil futures is down $-.24 or -0.41% $55.46
  • US yields are still mostly lower.  Two-year 1.691%, +0.4 basis points. Five-year 2.051%, -0.6 basis points,  10 year 2.352%, -1.9 basis points,  30 year 2.806%, -2.3 basis points,
  • US stocks are lower but off lowest levels of the day.  S&P index down eight points or -0.31% at 2570.92.  NASDAQ down 18.6 points or -0.28% at 6719.30.  Dow industrial average is down 78.5 points or -0.33%.

In the forex market the JPY is still the strongest of the major currencies but it has seen a rebound from it’s lows. The AUDUSD remains the weakest. The USD in aggregate was lower at the start of the day but is higher now.  It has moved back toward unchanged levels vs the EUR, GBP, CHF and NZD and higher vs the CAD and AUD.  It is only lower vs the JPY now (it was down vs the EUR, JPY, CHF and NZD earlier in the day).