Monday, November 19, 2018

Daily Writing

9:44 AM

We’ve heard several bullish and bearish arguments toward US treasuries.  The bullish case comes after the Fed’s newly appointed vice-chairman Richard Clarida reinforced the market’s view that the US central bank would be in no hurry to step up its pace of interest rate rises.[1]  Following Clarida’s remarks Treasury yields dropped by ten basis points to 3.06%.

Equities continue to struggle but bond yields aren’t moving lower.

 

 

[1] https://www.ft.com/content/dfa2dbc4-e9a9-11e8-885c-e64da4c0f981

 

Market Data

Resource Commodities

	November 19, 2018	November 16, 2018	November 15, 2018	November 14, 2018	November 13, 2018
Gold spot	1222.70	1214.50	1203.25	1201.90	1199.98
Silver	14.340	14.270	14.130	13.985	13.990
Platinum	841.00	840.00	833.00	837.00	838.00
Copper	2.80	2.75	2.78	2.76	2.72
Crude (WTI)	55.66	57.82	56.53	56.43	57.13

 

Global 10-Year Government Bond Yields

	November 19, 2018	November 16, 2018	November 15, 2018	November 14, 2018	November 13, 2018
USA	3.09%	3.08%	3.09%	3.15%	3.15%
UK	1.41%	1.42%	NA	NA	NA
Germany	0.39%	0.36%	0.36%	0.40%	0.39%
Brazil	10.10%	10.15%	10.39%	10.44%	10.54%
Italy	3.50%	3.49%	3.51%	3.48%	3.44%
Japan	0.08%	0.09%	0.10%	0.10%	0.10%

 

Major U.S. Indexes

	November 19, 2018	November 16, 2018	November 15, 2018	November 14, 2018	November 13, 2018
VIX	18.78	20.04	20.41	20.52	19.45
DOW	254.13	252.42	250.61	253.88	253.21
S&P 500	273.73	271.74	268.76	274.18	273.06
NASDAQ	7247.87	7247.87	7129.04	7271.83	7259.66

 

Currency Cross Rates

	November 19, 2018	November 16, 2018	November 15, 2018	November 14, 2018	November 13, 2018
USD/JPY	112.8600	112.8300	113.2200	113.9600	113.8200
EUR/USD	1.1427	1.1415	1.1303	1.1303	1.1292
AUD/USD	0.7289	0.7332	0.7272	0.7224	0.7219
CHF/USD	1.0033	0.9996	0.9949	0.992	0.9929
USD/CNY	6.9427	6.936	6.938	6.9509	6.9545
USD Index	96.39	96.43	97.22	97.12	97.16