December, 4Q11, and 2011 in Figures
December 31, 2011
In the final month of 2011, long-term interest rates fell sharply, the dollar mostly rose, and share prices were mostly mixed. Gold prices dived 10.3%, and West Texas Intermediate crude oil prices hovered near the $100 per barrel level. The 3-month Eurodollar-Euribor deposit rate differential shifted by 40 basis points in support of the United States during the fourth quarter, and oil prices rose sharply in that period. Between end-2010 and end-2011, ten-year sovereign bond yields fell at least 100 basis points in four of the five economies compared below. Net currency movements were the smallest in decades. Equity movements in the United States were small, contrasting with double-digit drops in Germany, Japan, and Canada. Gold climbed 10.2% despite a difficult December, and oil prices rose 8.2% on the year.
| 10-Yr Yield | 12/30/11 | Chg v End Nov | Chg v End 3Q | Vs End 2010 |
| U.S. | 1.88% | -20 Basis Pts | -4 Basis Pts | -141 Basis Pts |
| Germany | 1.83% | -45 | -6 | -113 |
| Japan | 0.99% | -8 | -4 | -13 |
| U.K. | 1.98% | -33 | -45 | -142 |
| Canada | 1.94% | -20 | -21 | -120 |
| Switzerland | 0.69% | -22 | -27 | -105 |
| 3-month euros | ||||
| U.S. | 0.58% | +5 Basis Pts | +21 Basis Pts | +28 Basis Pts |
| Euroland | 1.36% | -11 | -19 | +41 |
| Japan | 0.20% | 0 | +1 | +1 |
| U.K. | 1.08% | +4 | +13 | +32 |
| Canada | 1.35% | +3 | +15 | +12 |
| Swiss | 0.05% | 0 | +3 | -12 |
| FX | Pct Chg in $ | Pct Chg in $ | Pct Chg in $ | |
| EUR/USD | 1.2940 | +3.9% | +3.4% | +3.4% |
| USD/JPY | 76.94 | -0.8% | -0.2% | -6.2% |
| USD/CHF | 0.9385 | +2.7% | +3.3% | +0.6% |
| GBP/USD | 1.5531 | +1.0% | +0.3% | +0.5% |
| AUD/USD | 1.0227 | +0.5% | -5.5% | +0.1% |
| NZD/USD | 0.7783 | +0.3% | -2.2% | +0.1% |
| USD/CAD | 1.0194 | 0.0% | -2.9% | +2.2% |
| USD/CNY | 6.2943 | -1.2% | -1.5% | -4.5% |
| Equities | Pct Change | Pct Change | Pct Change | |
| S&P 500 | 1258 | +0.9% | +11.2% | 0.0% |
| Nasdaq | 2605 | -0.6% | +7.9% | -3.3% |
| Djia | 12218 | +1.4% | +12.0% | +5.5% |
| Dax | 5898 | -3.1% | +12.0% | -14.7% |
| Nikkei | 8455 | +0.2% | +7.2% | -14.7% |
| Ftse | 5572 | +1.2% | +8.7% | -6.7% |
| Canada TSE | 11955 | -2.0% | +2.8% | -11.0% |
| Swiss SMI | 5936 | -4.8% | +7.3% | -7.8% |
| Commodities | Pct Change | Pct Change | Pct Change | |
| Oil, $ per brl | 98.83 | -1.5% | +24.8% | +8.2% |
| Gold, $ per oz | 1565.80 | -10.3% | -3.4% | +10.2% |
Copyright Larry Greenberg 2011. All rights reserved. No secondary distribution without express permission.
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