December and 2015 in Figures
January 4, 2016
Between the end of November and end of December, long-term interest rates rise in Switzerland, Germany, Britain and the United States but fell in Canada and Japan. Three-month rates adjusted almost fully to the first federal funds rate hike since 2006. The dollar fell against the euro, yen, Swissie and kiwi but advanced against loonie, Aussie dollar, and yuan. Oil tumbled another 9%, and stocks lost value broadly.
Last calendar year saw ten-year sovereign debt yields diverge, with those in the U.K. and U.S. rising but those in Canada and Switzerland falling sharply. Modest net changes were posted in Germany (up) and Japan (down). The currencies of emerging markets including China and commodity-sensitive economies especially Canada performed weakly. So did the euro but not the yen or Swiss franc. U.S. dollar strength against sterling was less pronounced than against the euro but more so than relative to the Swiss franc. West Texas Intermediate crude oil plunged 29% on top of a 46% dive in 2013. Gold dropped 9.8% after slipping 1.5% in the prior year.
| 10-Yr Yield | 12/31/15 | Chg vs End-Nov | Chg vs End-2014 |
| U.S. | 2.27% | +6 Basis Points | +20 Basis Points |
| Germany | 0.62% | +15 | +8 |
| Japan | 0.26% | -4 | -5 |
| U.K. | 1.96% | +14 | +21 |
| Canada | 1.39% | -17 | -40 |
| Switzerland | -0.12% | +29 | -41 |
| 3-month rates | 12/31/15 | ||
| U.S. | 0.61% | +23 Basis Points | +35 Basis Points |
| Euroland | -0.13% | -3 | -19 |
| Japan | 0.08% | +3 | -3 |
| U.K. | 0.59% | +2 | +3 |
| Swiss | -0.76% | +4 | -72 |
| FX | 12/31/15 | % Chg in USD | Pct Chg in $ |
| EUR/USD | 1.0864 | -2.8% | +11.4% |
| USD/JPY | 120.17 | -2.4% | +0.4% |
| USD/CHF | 0.9994 | -2.9% | +0.5% |
| GBP/USD | 1.4738 | +2.2% | +5.7% |
| AUD/USD | 0.7293 | -0.8% | +12.0% |
| NZD/USD | 0.6834 | -3.8% | +14.1% |
| USD/CAD | 1.3829 | +3.6% | +19.0% |
| USD/CNY | 6.4900 | +1.4% | +4.6% |
| Equities | 12/31/15 | %Chg vs End-Nov | Chg vs End-2014 |
| S&P 500 | 2044 | -1.7% | -0.7% |
| Nasdaq | 5001 | -2.1% | +5.6% |
| Djia | 17425 | -1.7% | -2.2% |
| Dax | 10743 | -5.6% | +9.6% |
| Nikkei | 19034 | -3.6% | +9.1% |
| Ftse | 6242 | -1.8% | -4.9% |
| Canada TSE | 13010 | -3.4% | -11.1% |
| Swiss SMI | 8818 | -1.9% | -1.8% |
| Commodities | 12/31/15 | Chg vs End-Nov | Chg v End-2014 |
| Oil, $ per barrel | 37.84 | -9.0% | -29.0% |
| Gold, $ per ounce | 1068.30 | +0.3% | -9.8% |
Copyright Larry Greenberg 2016. All rights reserved. No secondary distribution without express permission.
Tags: bonds, foreign exchange, gold, interest rates, Oil, stocks
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