June and Second Quarter in Figures
June 30, 2011
Despite great concern about Euroland’s peripheral members, the euro advanced against the dollar in both June and the second quarter. Among currencies monitored below, the dollar only rose against sterling during June, but the rate of yuan appreciation was much slower than in April or May. Three-month Euribor rates edged higher in anticipation of a second ECB rate hike next month and closed up 60 basis points on the quarter. The ten-year Treasury-minus-German bund differential narrowed almost a full percentage point during the second quarter, and the 10-year British gilt yield climbed 19 basis points in June after falling by 45 basis points in April-May. The German Dax, Japanese Nikkei and Swiss SMI rose somewhat last month, and the losses posted by other stock indices in the table below were trimmed considerably in the final week of the month. Oil fell 10.8% in the second quarter but remained higher than the end-2010 level, thanks to a nearly 17% increase in the first quarter. Gold prices dropped in June by remained very elevated.
| 10-Yr Yield | 06/30/11 | Chg vs End-May | Chg vs End-Mar |
| U.S. | 3.16% | +11 Basis Points | -30 Basis Points |
| Germany | 3.02% | 0 | +67 |
| Japan | 1.14% | -2 | -12 |
| U.K. | 3.38% | +19 | -26 |
| Canada | 3.11% | +4 | -23 |
| Switzerland | 1.71% | -11 | -24 |
| 3-month euros | Chg vs End-May | Chg vs End-Mar | |
| U.S. | 0.25% | 0 Basis Points | -5 Basis Points |
| Euroland | 1.55% | +12 | +60 |
| Japan | 0.20% | 0 | 0 |
| U.K. | 0.83% | 0 | +1 |
| Canada | 1.17% | -3 | -3 |
| Swiss | 0.18% | 0 | 0 |
| FX | Pct Chg in USD | Pct Chg in USD | |
| EUR/USD | 1.4503 | -0.8% | -2.4% |
| USD/JPY | 80.56 | -1.2% | -3.2% |
| USD/CHF | 0.8410 | -1.4% | -8.6% |
| GBP/USD | 1.6044 | +2.5% | -0.1% |
| AUD/USD | 1.0720 | -0.5% | -3.7% |
| NZD/USD | 0.8285 | -0.4% | -7.6% |
| USD/CAD | 0.9643 | -0.5% | -0.6% |
| USD/CNY | 6.4650 | -0.2% | -1.3% |
| Equities | Pct Change | Pct Change | |
| S&P 500 | 1321 | -1.8% | -0.4% |
| Nasdaq | 2774 | -2.2% | -0.3% |
| Djia | 12414 | -1.2% | +0.8% |
| Dax | 7376 | +1.1% | +3.3% |
| Nikkei | 9816 | +1.3% | +0.6% |
| Ftse | 5946 | -0.7% | +0.6% |
| Canada TSE | 13301 | -3.7% | -5.8% |
| Swiss SMI | 6187 | +3.3% | -2.7% |
| Commodities | Pct Change | Pct Change | |
| Oil, $ per brl | 95.12 | -7.3% | -10.9% |
| Gold, $ per oz | 1500.80 | -2.3% | +4.2% |
Copyright Larry Greenberg 2011. All rights reserved. No secondary distribution without express permission.
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