June in Figures
June 28, 2013
It’s been quite a month and quite a quarter for world financial markets. Long-term interest rates rose sharply in the quarter, but note that Abenomics succeeded in preventing JGB yields from climbing further in June even as rates elsewhere continued their ascent. The Australian and New Zealand dollars were especially weak in both the quarter and month, and nobody’s equities did particularly well. Gold reinforced its reputation for extreme two-way volatility. Yes, gold outperformed most stock markets in the past ten years, but it crashed over 10% in June and some 24% in the second quarter. It’s been a period when efforts by central bankers to communicate fine detail in their policies generated intensifying market volatility. The problem was that central bankers signaled a spectrum of plans, some of which were poorly timed with trends in inflation, and this juxtaposition has made investors confused and anxious about the future.
| 10-Yr Yield | 06/28/13 | Chg vs End-May | Chg vs End-March |
| U.S. | 2.49% | +36 Basis Points | +64 Basis Points |
| Germany | 1.73% | +23 | +44 |
| Japan | 0.84% | -1 | +29 |
| U.K. | 2.44% | +44 | +67 |
| Canada | 2.43% | +37 | +56 |
| Switzerland | 1.02% | +30 | +30 |
| 3-month euros | Chg vs End-May | Chg vs End-March | |
| U.S. | 0.27% | 0 Basis Point | -1 Basis Point |
| Euroland | 0.15% | +3 | +2 |
| Japan | 0.16% | +1 | 0 |
| U.K. | 0.51% | +1 | 0 |
| Canada | 1.17% | 0 | -1 |
| Swiss | 0.02% | 0 | 0 |
| FX | Pct Chg in USD | Pct Chg in USD | |
| EUR/USD | 1.3009 | -0.1% | -1.5% |
| USD/JPY | 99.30 | -1.1% | +5.4% |
| USD/CHF | 0.9449 | -1.0% | -0.4% |
| GBP/USD | 1.5203 | -0.1% | -0.1% |
| AUD/USD | 0.9142 | +4.7% | +13.8% |
| NZD/USD | 0.7744 | +2.6% | +8.9% |
| USD/CAD | 1.0520 | +1.5% | +3.4% |
| USD/CNY | 6.1377 | +0.1% | -1.2% |
| Equities | Chg vs End-May | Chg vs End-March | |
| S&P 500 | 1606 | -1.5% | +2.4% |
| Nasdaq | 3403 | -1.5% | +4.1% |
| Djia | 14910 | -1.4% | +2.3% |
| Dax | 7959 | -4.7% | +2.1% |
| Nikkei | 13677 | -0.7% | +10.3% |
| Ftse | 6215 | -5.6% | -3.1% |
| Canada TSE | 12129 | -4.1% | -4.9% |
| Swiss SMI | 7683 | -3.3% | -1.7% |
| Commodities | Pct Change | Pct Change | |
| Oil, $ per barrel | 96.56 | +5.0% | -0.7% |
| Gold, $ per ounce | 1211.60 | -13.0% | -24.1% |
Copyright Larry Greenberg 2013. All rights reserved. No secondary distribution without express permission.
Tags: bonds, commodities, forex, stocks
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