August in Figures

August 31, 2018

Many stock markets performed well in August as such had in July. Exceptions were those in the U.K., Switzerland, and Canada. The yen and Swiss franc rose against the dollar, which otherwise advanced against the other currencies examined in this monthly feature. The dollar also strengthened 33% against the Turkish lira during August. The Bank of England’s key interest rate was lifted 25 basis points early in the month, helping to lift the 10-year gilt yield by 8 basis points. The ten-year Treasury yield, in contrast, fell 10 basis points, and the 10-year versus 2-year Treasury spread narrowed from 33 basis points to a mere 24 basis points. Swiss, Canadian, and German ten-year sovereign debt yields fell between eight and a dozen basis points. Oil and gold prices also declined on net during August.

10-Yr Yield 08/31/18 07/31/18 Chg v End-Jul
U.S. 2.86% 2.96% -10 Basis Points
Germany 0.32% 0.44% -12
Japan 0.09% 0.09% 0
U.K. 1.42% 1.34% +8
Canada 2.22% 2.30% -8
Switzerland -0.15% -0.06% -9
CB Policy Rate 08/31/18 07/31/18 Chg vs July 31
Fed funds target 1.75/2.00% 1.75/2.00% 0 Basis Points
ECB deposit rate -0.40% -0.40% 0
BOJ policy rate -0.10% -0.10% 0
BOE Bank Rate

BOC Rate

0.75%

1.50

0.50%

1.50%

+25

0

Swiss 3M Libor -1.25/-0.25% -1.25/-0.25% 0
FX 08/31/18 07/31/18 Pct Chg in $
EUR/USD 1.1603 1.1690 +0.7%
USD/JPY 111.00 111.83 -0.7%
USD/CHF 0.9692 0.9903 -2.1%
GBP/USD 1.2960 1.3122 +1.6%
AUD/USD 0.7184 0.7424 +3.3%
NZD/USD 0.6612 0.6815 +3.1%
USD/CAD 1.3043 1.3012 +0.2%
USD/CNY 6.8304 6.8167 +0.2%
Equities 08/31/18 07/31/18 Chg vs July 31
S&P 500 2902 2816 +3.1%
Nasdaq 8110 7672 +5.7%
Djia 25965 25415 +2.2%
Dax  12364 12106 +2.1%
Nikkei 22865 22554 +1.4%
Ftse 7432 7749 -4.1%
Canada TSE 16263 16434 -1.0%
Swiss SMI 8974 9174 -2.2%
Commodities 08/31/18 07/31/18 Chg vs July 31
Oil, $ per barrel 69.80 68.76 -7.5%
Gold, $ per ounce 1206.70 1223.70 -1.4%

Copyright Larry Greenberg 2018.  All rights reserved.  No secondary distribution without express permission.

 

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