Higher rates weigh on equities
The yields on European debt moved back to the upside with the
- German 10 year up 8.3 bp,
- France up 9 bp,
- Italy up 12.6 bp,
- Spain up 11.1 bps and
- UK up 10 bps
Those surges in rates, helped to depress stock prices in the process.
Specifically,
- German Dax down -1.9%
- France CAC down -1.9%
- UK FTSE down -0.5%
- Spain Ibex down -1.7%
- Italy FTSE MIB down -1.63%
- Portugal PSI20 down -0.89%
The US market did not help today. Despite the financials being buoyed higher after the dividend and buybacks announced yesterday, the major indices are hitting the skids.
- Nasdaq down 102 points or -1.63%
- S&P down -20 points or -0.82%
- Dow down -126 points or -0.59%
