German Dax up 1.89%

In German yesterday the stock market was closed for Reformation Day. Today the buyers came in with a vengence and gapped higher and continued higher.

The German Dax is ending the day up 1.89% and outperformed the other major European indices which were mixed.

Looking at the major indice changes:

  • Germany's DAX up 1.89%
  • France's CAC up 0.3%
  • UK's FTSE 100 down 0.03%
  • Spain's Ibex down 0.03%
  • Italy's FTSE MIB up 0.87%
  • Portugal's PSI20 down 0.59%

IN the 10 year note sector, yields were mixed

  • Germany 0.372%, plus one basis point
  • France 0.762%, +0.7 basis points
  • UK 1.347%, +1.5 basis points
  • Spain 1.475%, +1.5 basis points
  • Italy 1.806%, -2.1 basis point
  • Portugal 2.108%, +3.3 basis points
  • Greece 5.273%, -19.5 basis points

A snapshot of other markets as London/European traders head for the exits:

  • Spot gold $1277, plus $5.86
  • WTI crude oil futures $54.34, unchanged
  • US treasury yields are mostly lower: two-year 1.6079%, +0.8 basis points. Five-year 2.009%, -0.6 basis points. 10 year 2.359%, -2 basis points. 30 year 2.845%, -3.4 basis points.. The US yield curve is getting flatter.
  • In the US stock market the major indices are mixed. S&P 500 is up 4.9 points or 0.19%. Dow industrial average is up 45 points or 0.19%, but the NASDAQ composite index is down 5.5 points or -0.8%.

The NZD is still leading the table as the strongest currency. The CHF has taken over as the weakest from the JPY (vs earlier in the NY session).