Major indices are higher on the day
The UK FTSE 100 has moved up by 1.1% on the day after Boris Johnson - and the Tories - return the power with a big majority. The other indices were dragged higher as well as fears of a hard Brexit faded away.
The provisional closes are showing
- German DAX, +0.46%
- France's CAC, +0.6%
- UK's FTSE 100, +1.1%
- Spain's Ibex, +0.9%
- Italy's FTSE MIB bucked the trend and is ending down -0.26%
For the week, the major indices also closed with gains
- German DAX, +0.9%
- France's CAC, +0.9%
- UK's FTSE 100, +1.56%
- Spain's Ibex, +1.9%
- Italy's FTSE MIB, +0.6%
A snapshot of the European 10 year benchmark debt market shows that yields today were mostly lower. The exception was Italy which saw investors push yields up by 2.3 basis points.
In other markets as London/European traders look to exit for the weekend shows:
- S&P index, -5.8 points or -0.18% at 3162.74
- NASDAQ +2 points or 0.02% at 8719
- spot gold is up $7.66 or 0.52% $1477.50
- WTI crude oil futures are up $0.61 or 1.03% of $59.79
In the US debt market yields are sharply lower with the 10 year down 7.1 basis points. The 30 year bond yield is down to 2.239%. Recall from yesterday the US auctioned off $16 billion of 30 year bonds at 2.302%, which was 2.1 basis points below the WI level at the time of the auction. The phase 1 deal by the US and China has not helped to send yields higher (skeptical?). Moreover retail sales today were weaker than expectations.
Looking at the changes for the major currency pairs versus the US dollar, apart from the sharp rise in the GBPUSD and a 39 pip fall in the AUD, the other pairs are within 16 pips of being unchange on the day. The EURUSD is unchanged in the snapshot.
