August in Figures

August 30, 2014

Long-term interest rates fell substantially in August.  Stock markets, with the notable exception of Japan, recorded gains, and the U.S. performance was the best in a half year.  The dollar rose against the euro, Swissie, sterling, yen and kiwi but fell marginally against the loonie, yuan and Australian dollar.  Short-term interest rates were narrowly mixed in the month.  Deteriorating geopolitical conditions failed to move commodities sharply.  Market concern intensified about economic prospects in the euro area and Japan, while perceived improvement in the United States fanned speculation that the Federal Reserve might start to raise interest rates sooner than mid-2015, or at least shift its rhetoric to encourage such beliefs.

10-Yr Yield 07/31/14 08/29/14 Chg vs End-July
U.S. 2.55% 2.35% -20 Basis Points
Germany 1.15% 0.89% -26
Japan 0.53% 0.49% -4
U.K. 2.60% 2.37% -23
Canada 2.09% 2.00% -9
Switzerland 0.52% 0.41% -11
3-month euros     Chg vs End-July
U.S. 0.263% 0.23%   -3 Basis Points
Euroland 0.16% 0.13% -3
Japan 0.15% 0.13% -2
U.K. 0.52% 0.56% +4
Swiss 0.02% 0.02% 0
FX   Pct Chg in USD
EUR/USD 1.3389 1.3143 +1.9%
USD/JPY 102.80 104.07 +1.2%
USD/CHF 0.9089 0.9179 +1.0%
GBP/USD 1.6884 1.6603 +1.7%
AUD/USD 0.9295 0.9336 -0.4%
NZD/USD 0.8500 0.8360 +1.7%
USD/CAD 1.0904 1.0874 -0.3%
USD/CNY 6.1737 6.1440 -0.5%
Equities   Chg vs End-July
S&P 500 1931 2003 +3.7%
Nasdaq 4370 4580 +4.8%
Djia 16563 17098 +3.2%
Dax 9407 9470 +0.7%
Nikkei 15621 15425 -1.3%
Ftse 6730 6820 +1.3%
Canada TSE 15331 15616 +1.9%
Swiss SMI 8410 8659 +3.0%
Commodities     Chg vs End-July
Oil, $ per barrel 98.17 95.96 -2.3%
Gold, $ per ounce 1281.30 1285.80 +0.4%

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

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