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 Swiss markets. The dollar and yen were weak in March. In the quarter as a whole, the yen ranked as the most strong among currencies shown below. Oil appreciated sharply in March but was little changed in the first quarter as a whole. Just the reverse, gold was steady in March but climbed 15.5% between the end of December and end-March.
| 10-Yr Yield | 03/31/16 | Chg vs End Feb | Chg v End-2015 |
| U.S. | 1.77% | +3 Basis Points | -50 Basis Points |
| Germany | 0.15% | +4 | -47 |
| Japan | -0.04% | +3 | -30 |
| U.K. | 1.41% | +8 | -55 |
| Canada | 1.22% | +6 | -17 |
| Switzerland | -0.38% | +10 | -26 |
| 3-month rates | 03/31/16 | Chg vs End Feb | Chg v End-2015 |
| U.S. | 0.63% | -1 Basis Point | +2 Basis Points |
| Euroland | -0.25% | -3 | -12 |
| Japan | -0.01% | 0 | -9 |
| U.K. | 0.59% | 0 | 0 |
| Swiss | -0.81% | -+8 | +3 |
| FX | 03/31/16 | Pct Chg in USD | Pct Chg in $ |
| EUR/USD | 1.1379 | -4.8% | -4.5% |
| USD/JPY | 112.57 | -0.1% | -6.3% |
| USD/CHF | 0.9619 | -3.6% | -3.8% |
| GBP/USD | 1.4364 | -3.1% | +2.6% |
| AUD/USD | 0.7661 | -6.8% | -4.8% |
| NZD/USD | 0.6914 | -4.7% | -1.2% |
| USD/CAD | 1.3000 | -4.0% | -6.0% |
| USD/CNY | 6.4543 | -1.5% | -0.6% |
| Equities | 02/29/16 | Chg v End-Feb | Chg v End-2015 |
| S&P 500 | 2060 | +6.6% | +0.8% |
| Nasdaq | 4870 | +6.8% | -2.6% |
| Djia | 17685 | +7.1% | +1.5% |
| Dax | 9966 | +5.0% | -7.2% |
| Nikkei | 17597 | +4.6% | -12.0% |
| Ftse | 6175 | +1.8% | -1.1% |
| Canada TSE | 13494 | +4.9% | +3.7% |
| Swiss SMI | 7808 | -0.5% | -11.5% |
| Commodities | 02/29/16 | Chg v End-Feb | Chg v End-2015 |
| Oil, $ per barrel | 38.34 | +13.6% | +1.3% |
| Gold, $ per ounce | 1234.20 | 0.0% | +15.5% |
Copyright Larry Greenberg 2016. All rights reserved. No secondary distribution without express permission.
Tags: bonds, commodities, currencies, stocks
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