10 year benchmark yields ending the session mixed

The European major indices are starting the trading week with declines. Global growth remains a concern.

The provisional closes are showing:

  • German DAX, -0.6%
  • France's CAC, -0.8%
  • UK's FTSE, -0.9%
  • Spain's Ibex, -1.3%
  • Italy's FTSE MIB, -1.02%
  • Portugal PSI 20, -1.21%

In the benchmark 10 year note sector, yields are ending mixed.

  • Germany 0.205%, +1.2 basis points
  • France 0.608%, +1.0 basis points
  • UK 1.27%, -3.5 basis points
  • Spain 1.219%, -1.2 basis points
  • Italy, 2.662%, +1.3 basis points
  • Portugal, 1.6.9 percent, unchanged

In the forex market, the snapshot of the strongest and weakest now shows the EUR is the strongest, while the CAD has taken over as the weakest currency. At the start of the NA session, the CHF was the strongest, while the GBP was the weakest. Lower oil prices have helped to weaken the CAD. The EURUSD is stretching up toward the 100 day AM at 1.14489. The high just ticked to 1.1443 (new high since Jan 15).

10 year benchmark yields ending the session mixed

In other markets as European/London traders look to exit:

  • spot gold trades at $1303.51 up $.38 or 0.03%
  • WTI crude oil futures trade down $2.30 at $51.39. That is a -4.3% decline
  • Bitcoin on the Coinbase is trading down $-129 and $3412

In the US stock market, shares remain under pressure after Caterpillar earnings and revenue warning from Nvidia. Both blamed China.

  • S&P index -33.24 points or -1.25% at 2631.50
  • NASDAQ index -111 points or -1.56% at 7053
  • Dow industrial average -3 and 53 points or -1.43% at 24384

US yields are trading lower today with the 2-10 year spread down to 14.56 basis points. Below is a snapshot of current rates and the highs and lows for the day.

US yields curve.