June and the Second Quarter in Figures
June 30, 2016
June and the second quarter were a volatile time in financial markets with mixed results, a few surprises and some odd juxtapositions. The table below shows end-June levels and their comparisons to end-May and end-second quarter levels. A unifying theme in both the last month and the spring quarter involved deep declines in sovereign debt yields. Plunging British gilt yields may mean that sterling’s post-Brexit slump may not necessarily translate into significant inflation there. The yen, on the other hand, strengthened more than Japan’s economy appears able to afford and may ultimately prove a more disruptive post-Brexit development than the slide of the pound. Gold was well-bid, and the dollar outside of its cable relationship tended to be soft. The quarter ended under a shroud of extensive uncertainty but firmer equity markets than seemed possible just a couple of days earlier.
|10-Yr Yield||06/30/16||Chg v End-May||Chg v End-1Q|
|U.S.||1.48%||-36 Basis Points||-29 Basis Points|
|3-month rates||06/30/16||Chg v End-May||Chg v End-1Q|
|U.S.||0.65%||-3 Basis Points||-2 Basis Points|
|FX||06/30/16||$’s Chg in June||$ Chg in 2Q|
|Equities||06/30/16||Chg v End-May||Chg v End-1Q|
|Commodities||06/30/16||Chg v End-May||Chg v End-1Q|
|Oil, $ per barrel||48.33||-1.6%||+26.1%|
|Gold, $ per ounce||1318.40||+8.5%||+6.8%|
Copyright Larry Greenberg 2016. All rights reserved. No secondary distribution without express permission.