Stocks in Europe end the day with losses

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Major European indices are lower to start the week

The major European indices are ending the day lower.  Concerns about Brexit are weighing on confidence:

  • German DAX down -0.3%
  • France’s CAC down -0.7%
  • UK’s FTSE down -0.2%
  • Spain’s Ibex down -0.4%
  • Italy’s FTSE MIB down -0.55%
  • Portugal’s PSI 20 down -0.75%

In the 10 year debt sector yields are unchanged to lower:

  • Germany 0.416%, unchanged
  • France 0.779%, unchanged
  • UK 1.331%, -1 basis point
  • Spain 1.533%, -4.3 basis points
  • Italy 1.835%, -1.1 basis points
  • Portugal 1.992%, -6.7 basis points
  • Greece 5.09%, -8.9 basis points

In other markets as London/European traders look to exit:

  • Spot gold is up $3.60 or +0.28% at $1279.11
  • WTI crude oil futures are unchanged at $56.75
  • US stock indices are trading above and below unchanged levels today.   S&P index unchanged at 2582.50.  NASDAQ composite index up 2.3 points orb +0.3% at 6753.38.  Dow industrial average up 7.9 points or +0.3%
  • US treasury yields are higher in the shorter end and lower in the longer.  Two-year 1.670%, up 1.6 basis points.  5 year 2.061%, up one basis point.   10 year 2.393%, -0.5 basis points.  30-year 2.8638%, -1.5 basis points

IN the forex market in the NY morning, the USD has gotten stronger erasing losses versus the JPY and CHF and advancing against the CAD, AUD and NZD.

The weakest currency remains the GBP but some of the declines seen earlier have been retraced in the NY session.

Source