UK FTSE 100 leads the move to the downside
The major European indices give up gains of over 1% and are ending the day around or below unchanged (and at session lows). The UK FTSE is the biggest decliner. The GBP is also the strongest currency on the day.
The provisional closes are showing:
- German DAX, +0.1%. The traders highs +1.2%
- France's CAC, +0.1%. It traded as high as 1.3%
- UK's FTSE 100, -1.1%. It traded as high as 1.13%
- Spain's Ibex, fell -0.03%. It traded as high as 1.49%
- Italy's FTSE MIB fell -0.3%.. It traded as high as 1.26%
As London traders head for the exit, the GBP remains the strongest of the major currencies. The JPY remains the weakest. The USD has stayed mostly lower on the day but has traded up and down in choppy trading.
In other markets as London/European traders look to exit:
- The S&P index is -2.3 points or -0.07% the 3428.50
- The NASDAQ index is up 11 points or 0.09% 11390.95
- The Dow is down -197 points or -0.70% at 28110.64
- Spot gold is trading down $13.42 or -0.7% at $1915.36. It is trading near its low for the day at $1914.31
- WTI crude oil futures are trading up $0.52 or 1.22% of $43.14
In the US debt market yields remain higher:
- 2 year 0.161%, +1.0 basis points
- 5 year 0.307%, +2.5 basis points
- 10 year 0.701%, +4.7 basis points
- 30 year 1.408%, +5.2 basis points
The US treasury will auction off US$50 billion of two-year notes at 1 PM. This is the 1st of 3 longer dated auctions. Tomorrow the treasury will auction off $51 billion of 5 year notes. On Thursday, they will auction off $47 billion of 7 year notes.
