May in Figures

May 31, 2014

Stock markets in May took a more optimistic view of growth prospects than did bond investors, making May the unusual month in which both asset classes improved.  Short-term interest rates remained anchored at very low levels.  The euro lost strength on speculation that the ECB will ease policy significantly in June.  From a monthly high of $1.3993, the common European currency fell to as low as $1.3598 and closed not far from that trough.  The kiwi lost almost as much ground as the euro during the month.  West Texas Intermediate crude oil strengthened through the key $100 per barrel threshold and gained 3.0% on balance, while gold floundered and lost 3.9%.

10-Yr Yield 04/30/14 05/30/14 Chg vs End-Apr
U.S. 2.65% 2.47% -18 Basis Points
Germany 1.47% 1.36% -11
Japan 0.62% 0.57% -5
U.K. 2.66% 2.57% -9
Canada 2.40% 2.24% -16
Switzerland 0.84% 0.71% -13
3-month euros   Chg vs End-Apr
U.S. 0.22% 0.23%   +1 Basis Points
Euroland 0.31% 0.29% -2
Japan 0.14% 0.14% 0
U.K. 0.53% 0.53% 0
Swiss 0.02% 0.02% 0
FX     Pct Chg in USD
EUR/USD 1.3866 1.3652 +1.6%
USD/JPY 102.23 101.79 -0.4%
USD/CHF 0.8807 0.8955 +1.7%
GBP/USD 1.6873 1.6757 +0.7%
AUD/USD 0.9287 0.3087 -0.2%
NZD/USD 0.8615 0.8492 +1.4%
USD/CAD 1.0962 1.0846 -1.1%
USD/CNY 6.2601 6.2500 -0.2%
Equities     Chg vs End-Apr
S&P 500 1884 1924 +2.1%
Nasdaq 4115 4243 +3.1%
Djia 16581 16717 +0.8%
Dax 9603 9943 +2.5%
Nikkei 14304 14632 +2.3%
Ftse 6780 6845 +1.0%
Canada TSE 14652 14604 -0.3%
Swiss SMI 8477 8675 +2.3%
Commodities     Chg vs End-Apr
Oil, $ per barrel 99.74 102.71 +3.0%
Gold, $ per ounce 1295.60 1245.60 -3.9%

Copyright Larry Greenberg 2014.  All rights reserved.  No secondary distribution without express permission.

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