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European indices post gains to start the week

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German DAX +1.0%

The major European indices posted gains to start the trading week. The provisional closes are showing:

  • German DAX, +1.0%
  • France’s CAC, +0.5%
  • UK’s FTSE 100, +0.6%
  • Spain’s Ibex, +0.15%
  • Italy’s FTSE MIB, +0.6%

In the European debt market, the benchmark 10 year yields ended mostly higher with Germany 10 year yield up 2.8 basis points. Spain’s yield were near unchanged.

German DAX +1.0%_

In the forex market as London/European traders look to exit, the GBP is the strongest, while the JPY is the weakest.  The USD is weaker after Bullard/Kaplan perhaps were little less hawkish than expectations. 

The US dollar is stronger weaker

In other markets:

  • Spot gold is up $19.84 was 1.13% $1784.07. The hi reach $1786.52. The low has extended to $1766.61.
  • Spot silver is up $0.20 or 0.78% at $25.98
  • WTI crude oil futures are up $1.35 or 1.80% at $72.99. That is just off the high of $73.06
  • The price of bitcoin is trading at $32,580. The low price reached $31,700. The high price was at $35897

In the US stock market, the Dow industrial average is leading the way with a 1.58% gain. The NASDAQ lags but is still higher by 0.61%

  • S&P index up 51 points or 1.23% for 217.52
  • NASDAQ index up 85 points or 0.61% at 14115
  • Dow up 525 points or 1.58% of 33816

In the US, the yields and the yield curve are moving to the upside. The two year yield is near unchanged, while the 10 year yield is up 3.5 basis points. The 30 year is up 6.1 basis points.

US yields are higher

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