bonds
June and the Second Quarter in Figures
July 1, 2017
As in the previous quarter, a slide in the price of oil was a key development during the second quarter, and half of this move occurred in June. Gold also lost value both in June and the whole quarter. A second theme of the period was a shifting view about future monetary policies in the […] More
March and First Quarter in Figures
April 1, 2017
March saw an introspective pause to the market euphoria of the first two months of 2017, but the quarter still experienced a broadly lower dollar and strong stock market gains for the most part, the Japanese Nikkei being a notable exception. Ten-year sovereign debt yields were mixed and resulted in less supportive U.S. premiums at […] More
February in Figures
February 28, 2017
Equities were bid sharply higher in February, and the dollar appreciated mostly. Ten-year sovereign debt yields, which had risen during January, reversed course. Short-term interest rates were steady, and commodity prices climbed. 10-Yr Yield o2/28/17 01/31/17 Chg v End-Jan U.S. 2.38% 2.45% -7 Basis Points Germany 0.20% 0.43% -23 Japan 0.04% 0.07% -3 U.K. 1.15% […] More
October in Figures
November 1, 2016
The dollar rose in October especially versus sterling. Long-term interest rates increased everywhere, not just in the U.S. where monetary policy tightening is expected. The 10-year JGB remained below its target of zero, however. Short-term interest rates edged up marginally. Equities in October were mixed, and both the price of gold and oil slipped about […] More
September and the Third Quarter in Figures
October 1, 2016
Ten-year sovereign debt yields remained very low last quarter. British gilts dropped over a half percentage point for the second consecutive quarter, helped by a halving the Bank of England’s policy interest rate and resumption of quantitative stimulus there. The dollar fell mostly last quarter, but the loss against sterling was trimmed in September. Equities […] More
August in Figures
September 1, 2016
Sovereign debt yields rose in August in most cases, Canada and Britain not included. The dollar and kiwi strengthened slightly. Equities held on to July gains and extended such in several cases. Oil partly recovered, and gold declined. 10-Yr Yield 08/31/16 07/29/16 Chg v End-Jul U.S. 1.57% 1.45% +12 Basis Points Germany -0.07% -0.12% +5 […] More
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 […] More
May in Figures
May 31, 2016
In May, long-term interest rates fell. On the monetary policy front, confidence climbed that the Federal funds rate would be raised before much longer, while speculation grew that more stimulus would be forthcoming in Japan and possibly the eurozone. An appreciation of the dollar and oil prices was balanced by a decline in gold. Most […] More
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 […] More
March and the First Quarter in Figures
April 1, 2016
March was unlike January and February. Ten-year sovereign bond yields edged a little higher last month but recorded substantial declines in the quarter. Equities likewise performed well in March, but quarterly changes in share prices ranged from modest gains in the S&P 500 and Dow Jones Industrials to double-digit net losses in the Japanese and […] More
