Bloomberg Commodity Index a break of 77.83 would signal acceleration to test record low ~72.50
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rssEuropean shares end the day with mostly modest gains
Italy’s FTSE MIB the exception
The European stock markets are closed with most of the major indices ending with modest gains. The the exception is the Italian FTSE MIB:
- German DAX, +0.20%
- France’s CAC, +0.21%
- UK’s FTSE, +0.39%
- Spain’s Ibex, +0.66%
- Italy’s FTSE MIB, -0.20%
In the benchmark 10 year note sector, yields are higher on the day:
US Dollar Index ETF at its highest level since Nov 2008
Nikkei 225 closes lower by 0.29% at 20,942.53
Tokyo’s main index closes lower but it belies underlying risk sentiment
Asian stocks may be trading lower on the day but it’s more of a reflection of overnight trading in Europe and US because sentiment is faring slightly better in general today. US equity futures are trading up by 0.2% and European equity futures are also signaling slightly more positive tones at the open later.
More importantly, bond yields are holding steady for the most part with US 10-year Treasury yields up 0.5 bps at 2.266% currently. That is helping USD/JPY inch higher towards 109.70 but do be aware that there are also large expiries resting at 109.75 today that could help to limit gains alongside swing region resistance.
European stocks end with sharp losses on the day
German Dax -1.5%. UK FTSE -1.15%.
The major European stock in season ending the day with sharp losses. The provisional closes are showing:
- German DAX, -1.54%
- France’s CAC, -1.70%
- UK’s FTSE, -1.15%
- Spain’s Ibex, -1.2%
- Italy’s FTSE MIB, -1.24%
In the benchmark 10 year note sector, yields have continued their trend lower with the larger declines in the more “risky” countries ( Spain Italy Portugal).
In other markets, as traders in London/Europe look toward the exits:
- Spot gold is trading at $3.28 or 0.25% at $1282.61
- WTI crude oil futures are getting smashed at $-2.04 or -3.42% at $57.11. The oil complexes getting hurt on expectations for weaker global demand
Nikkei 225 closes lower by 1.21% at 21,003.37
Tokyo’s main index closes lower following overnight losses in Wall St
Asian equities are on the back foot for the most part today after weaker sentiment seen from overnight trading in Europe and US markets. Chinese stocks have recovered some ground after the lunch break but the general mood remains softer as we see the Nikkei end with losses of more than 1% and falling back below its 100-day moving average (red line).
Bond yields in general are also weaker with Treasury yields lower and we’re seeing Japanese 10-year bond yields also fall to -0.1%, its lowest level since March now. That is keeping pressure on yen pairs with USD/JPY holding lower at 109.25 as we begin the session.
European shares end the session lower, erasing earlier gains
US stocks are clinging to gains
The European shares are ending the session lower, erasing earlier gains:
- German DAX, -0.43%
- France’s CAC, -0.44%
- UK’s FTSE, -0.27%
- Spain’s Ibex, -0.34%
- Italy’s FTSE MIB, -0.55%
In the 10 year note sector, yields are mostly lower. The German 10 year is trading further away from the 0.0% level at -0.157%. Below for the day except the to -0.162%.
In other markets London/European traders look toward the exits, a snapshot shows- spot gold, $-9.50 or -0.74% in $1279.40
- WTI crude oil futures are trading up $.24 or 0.43% at $58.87
In the US, major stock indices are hanging onto gains, but off session highs
- S&P index +3.42 points or 0.12% at 2829.24. The session high reach to a 40.51
- The NASDAQ index is up 28 points or 0.37% at 7665. The session high reach 7693
- The Dow industrial average is up 22 points or 0.09% at 25608.8. The session high reach 25717.63
China Piglet Average price +111% since February.
FTSE MIB visit to the last chance saloon
Nikkei 225 closes higher by 0.37% at 21,260.14
Tokyo’s main index closes higher on slight recovery in Asian stocks
Equities continue to take a bit of a breather from US-China trade tensions as Japanese stocks inch higher after seeing European equities fare better in overnight trading. Chinese stocks are also performing better today but there’s a feeling that this is more of a relief rather than any risk-on mood amid lingering trade tensions.
Treasury yields are not as optimistic, sitting slightly weaker on the day and that’s putting a floor on yen weakness with USD/JPY trading near flat levels around 109.53 currently. European equity futures should open with mild gains but there isn’t much to really shout about for the time being with sentiment still slightly cautious as well.