10 year yields lower. Gold little changed. US yield recover as do US stocks
The European major stock indices are ending the session lower with the German Dax leading the way. Trade concerns and immigration problems in Germany, have investors nervous. The German Dax is now down on the year (down about -0.6%).
On the day:
- German DAX down -1.3%
- France's CAC down -1.0%
- UK's FTSE down -0.05%
- Spain's Ibex, down -0.8%
- Italy's FTSE MIB, down -0.41%
- Portugal's PSI 20, unchanged
In the 10 year note sector, yields are mostly lower
- Germany 0.396%. -0.7 basis points
- France 0.721%, -1.2 basis points
- UK 1.323%, -0.5 bps
- Spain 1.254%, -4.3 basis points
- Italy 2.556%, -5.3 basis points
- Portugal 1.745%, -7.8 basis points
In other markets as London traders head to the pubs for the start of England vs Tunisia:
- Spot gold down -$1 at $1278.57
- WTI crude oil futures up $.13 or 0.20% at $65.17
- Bitcoin is down $42 and $6455
IN the US market stocks have rebounded but are still lower. The Dow lags on a downgrade of Intel today:
- S&P index is down -10.5 points or 0.3% at 2769.14. That is off the high at 2773.92
- Nasdaq is down -13 points or -0.16% at 7733.59. The high reach 7748.37. The low 7676.83
- Dow is down -171 points or -0.68% at 24918.68. The high reached 24959. The low extended to 24825.72
In the US debt markets, yields have inched back toward unchanged levels (from lower earlier).
- 2 year 2.549%, +0.2 basis points
- 5 year 2.796%, -0.2 basis points
- 10 year 2.924%, +0.4 basis points
- 30 year 3.056%, +0.9 basis points
IN the forex market, the strongest currency remains the CHF. The weakest is the AUD now. The USD is mixed but mostly higher (modestly) now.
Near the North American opening the GBP was the weakest and the USD was slightly lower. The fortunes of the GBP has been helped by weaker NZD, CAD and AUD since the start of the NA day.
In the World Cup:
- Sweden beat S. Korea 1-0
- Belgium vs Panama are 0-0 at halftime
- England vs Tunisia will kick off in a few hours.
