Stocks lower in Europe. 10 year yields higher. Dollar lower into the FOMC hike.
A look at the European markets as traders head for the exits shows:
Stocks in Europe lower:
- Germany's DAX fell -0.41%
- France's CAC fell -0.52%
- UK's FTSE 100 was unchanged
- Spain's Ibex was down -0.35%
- Italy's FTSE MIB fell -1.44%
- Portugal's PSI 20 fell -0.29%
10 year notes in Europe mostly higher:
- Germany 0.314% unchanged on the day
- France 0.659%, +1.6 basis points
- UK 1.216%, unchanged
- Spain 1.497%, +3.5 basis points
- Italy 1.797%, +9 basis points
- Portugal 1.84%, +4.3 basis points
In the US markets, a snapshot of the US stock market shows gains across the board:
- S&P up 4.1 points or 0.16%
- Dow industrial average of hundred and 29 points or 0.53%
- NASDAQ composite index of 22.2 points or +0.32%
In the US debt market yields still remain negative after the weaker CPI:
- two-year 1.823%, -0.4 basis points
- five year 2.1618%, -1.0 basis points
- 10 year 2.3868%, -1.4 basis points
- 30 year 2.7561%, -2 basis points
Spot gold is trading up a dollar 43 or 0.11% at $1246
WTI crude oil futures are trading down $.47 or -0.84% at $56.67
Bitcoin is trading at $16644.
In the forex market at the NY midday/London close, the NZD is the strongest currency and the CAD is the weakest. The USD is moving lower into the FOMC decision at 2 PM ET (hike of 0.25% expected). The lower CPI today has hurt the USD. It is off the lows however.
