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European shares have a rebound Monday

  
Analysis, Global Indices
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List of Europe Country CodesMajor indices close lower last week. The week is getting off to a better start

Last week, the European indices all closed lower for the week. Today however, the indices are getting off to a better start. All the major indices are higher. The provisional closes are showing:

  • German DAX, +2.4%
  • France’s CAC, +2.3%
  • UK’s FTSE 100, +1.7%
  • Spain’s Ibex, +1.96%
  • Italy’s FTSE MIB, +2.1%
In the European debt market, the benchmark 10 year yields are ending mostly higher with Spain up 2.3 basis points leading the way. Italian yields are near unchanged at -0.1 basis point.

US treasury auctions off $49 billion of 5 year notes at 0.288%

  
  Analysis
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WI at auction time was at 0.281%

  • High yield 0.288%
  • Bid to cover 2.32 xvs. six-month average of 2.49x
  • Dealers 29.55%vs. six-month average of 27.2%
  • Directs 12.3% vs. six-month average of 14.7%
  • Indirects 58.1% vs. six-month average of 51.9%
  • Tail 0.7 basis points
The $49 billion of 5 year note auction came in at 0.288%. That was 0.7 basis points above the WI auction level of 0.281%.
The bid to cover was lower than the six-month average. Dealers were saddled with more than the six-month average. Overall the auction is a C-.

European shares end the session mixed

  
Analysis, Global Indices
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France and Spain indices move lower

The European shares are ending the session with mixed results. France and Spain indices are lower. Germany, UK, Italy are trading higher.

The provisional closes are showing:
  • Germany Dax, +0.44%
  • France CAC, -0.36%
  • UK FTSE 100, +0.6%
  • Spain’s Ibex, -0.34%
  • Italy’s FTSE MIB, +0.2%
For the week, the indices closed higher:
  • German DAX, +2.3%
  • France’s CAC, +1.9%
  • UK’s FTSE 100, +3.15%
  • Spain’s Ibex, +1.8%
  • Italy’s FTSE MIB, +3.1%
In the European debt market, the benchmark 10 year yields are mostly and modestly higher. The exception is the Italian 10 year which is trading down -1.5 basis points.
European debt market
In other markets as European/London traders look toward the exits for the week:
  • spot gold is trading at $13.50 or 0.75% $1810.70. The high price extended to $1811.11 the low has reached $1795.96
  • WTI crude oil futures are trading down $0.27 or -0.66% of $40.48. The high for the August contract reached $40.90 while the low extended to $40.02. The September contract is currently trading down $0.27 or 0.66% at $40.66
In  the US equity market, the major indices are trading mixed. The Dow industrial average is down on the day while the S&P and NASDAQ index are currently trading in the black
  • S&P index is up 3.25 points or 0.10% at 3218.81
  • NASDAQ index is up 11.5 points or 0.11% at 10,485.25
  • Dow industrial average is trading down 43.12 points or -0.16% at 26691.40
In the US debt market the yields are trading near unchanged across the curve:
  • 2 year 0.143, -0.2 basis points
  • 5 year 0.278%, +0.3 basis points
  • 10 year 0.618%, +0.1 basis point
  • 30 year 1.314%, +0.6 basis points
A look at the strongest and weakest currencies at the close of the London session shows the CHF is the strongest and the GBP is the weakest.  The US dollar is mostly lower.
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