April 2016 in Figures

April 30, 2016

The dominant market themes in March had been strong oil and equities, dollar and yen weakness, and modest sovereign debt yield increases.  In April, West Texas Intermediate crude oil extended March’s 13.6% advance with a further leap of 19.8%, but yen strength was the big currency market story.  Ten-year sovereign debt yields rose except for Japan’s, which sank more deeply below zero.  The bond yield increases in Britain and Canada were particularly large, the former reflecting concerns related to the British EU membership referendum set for June 23.  Equities stumbled late in the month, especially in the tech sector, producing mixed results for the month as a whole.  Oil wasn’t the only commodity to rise. Gold advanced 4.6%.  At monetary policy meetings in April, stances were left unchanged by central banks in the U.S., Euroland, Japan (a tremendous surprise), Great Britain, Canada, South Korea, Indonesia, Australia, New Zealand, Brazil, Serbia, Poland, Peru and Chile.  The central banks in India, Singapore, Turkey, Sweden, Hungary and Ukraine added or extended some stimulus.

10-Yr Yield 03/31/16 04/29/16 Chg v End-Mar
U.S. 1.77% 1.83% +6 Basis Points
Germany 0.15% 0.23% +8
Japan -0.04% -0.09% -5
U.K. 1.41% 1.59% +18
Canada 1.22% 1.49% +27
Switzerland -0.38% -0.28% +10
3-month rates 03/31/16 04/29/16 Chg v End-Mar
U.S. 0.63% 0.64% +1 Basis Point
Euroland -0.25% -0.27% -2
Japan -0.01% -0.02% -1
U.K. 0.59% 0.59% 0
Swiss -0.81% -0.73% +8
FX 03/31/16 04/29/16 Pct Chg in $
EUR/USD 1.1379 1.1450 -0.6%
USD/JPY 112.57 106.47 -5.4%
USD/CHF 0.9619 0.9599 -0.2%
GBP/USD 1.4364 1.4607 -1.7%
AUD/USD 0.7661 0.7602 +0.8%
NZD/USD 0.6914 0.6978 -0.9%
USD/CAD 1.3000 1.2555 -3.4%
USD/CNY 6.4543 6.4743 +0.3%
Equities 03/31/16 04/29/16 Chg v End-Mar
S&P 500 2060 2065 +0.2%
Nasdaq 4870 4775 -2.0%
Djia 17685 17774 +0.5%
Dax   9966 10039 +0.7%
Nikkei 17597 16666 -5.3%
Ftse 6175 6242 +1.1%
Canada TSE 13494 13951 +3.4%
Swiss SMI 7808 7961 +2.0%
Commodities 03/31/16 04/29/16 Chg v End-Mar
Oil, $ per barrel 38.34 45.92 +19.8%
Gold, $ per ounce 1234.20 1290.50 +4.6%

Copyright Larry Greenberg 2016.  All rights reserved.  No secondary distribution without express permission.

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