August in Figures
August 31, 2018
Many stock markets performed well in August as such had in July. Exceptions were those in the U.K., Switzerland, and Canada. The yen and Swiss franc rose against the dollar, which otherwise advanced against the other currencies examined in this monthly feature. The dollar also strengthened 33% against the Turkish lira during August. The Bank of England’s key interest rate was lifted 25 basis points early in the month, helping to lift the 10-year gilt yield by 8 basis points. The ten-year Treasury yield, in contrast, fell 10 basis points, and the 10-year versus 2-year Treasury spread narrowed from 33 basis points to a mere 24 basis points. Swiss, Canadian, and German ten-year sovereign debt yields fell between eight and a dozen basis points. Oil and gold prices also declined on net during August.
| 10-Yr Yield | 08/31/18 | 07/31/18 | Chg v End-Jul |
| U.S. | 2.86% | 2.96% | -10 Basis Points |
| Germany | 0.32% | 0.44% | -12 |
| Japan | 0.09% | 0.09% | 0 |
| U.K. | 1.42% | 1.34% | +8 |
| Canada | 2.22% | 2.30% | -8 |
| Switzerland | -0.15% | -0.06% | -9 |
| CB Policy Rate | 08/31/18 | 07/31/18 | Chg vs July 31 |
| Fed funds target | 1.75/2.00% | 1.75/2.00% | 0 Basis Points |
| ECB deposit rate | -0.40% | -0.40% | 0 |
| BOJ policy rate | -0.10% | -0.10% | 0 |
| BOE Bank Rate
BOC Rate |
0.75%
1.50 |
0.50%
1.50% |
+25
0 |
| Swiss 3M Libor | -1.25/-0.25% | -1.25/-0.25% | 0 |
| FX | 08/31/18 | 07/31/18 | Pct Chg in $ |
| EUR/USD | 1.1603 | 1.1690 | +0.7% |
| USD/JPY | 111.00 | 111.83 | -0.7% |
| USD/CHF | 0.9692 | 0.9903 | -2.1% |
| GBP/USD | 1.2960 | 1.3122 | +1.6% |
| AUD/USD | 0.7184 | 0.7424 | +3.3% |
| NZD/USD | 0.6612 | 0.6815 | +3.1% |
| USD/CAD | 1.3043 | 1.3012 | +0.2% |
| USD/CNY | 6.8304 | 6.8167 | +0.2% |
| Equities | 08/31/18 | 07/31/18 | Chg vs July 31 |
| S&P 500 | 2902 | 2816 | +3.1% |
| Nasdaq | 8110 | 7672 | +5.7% |
| Djia | 25965 | 25415 | +2.2% |
| Dax | 12364 | 12106 | +2.1% |
| Nikkei | 22865 | 22554 | +1.4% |
| Ftse | 7432 | 7749 | -4.1% |
| Canada TSE | 16263 | 16434 | -1.0% |
| Swiss SMI | 8974 | 9174 | -2.2% |
| Commodities | 08/31/18 | 07/31/18 | Chg vs July 31 |
| Oil, $ per barrel | 69.80 | 68.76 | -7.5% |
| Gold, $ per ounce | 1206.70 | 1223.70 | -1.4% |
Copyright Larry Greenberg 2018. All rights reserved. No secondary distribution without express permission.
Tags: bonds, foreign exchange, gold, Oil, stocks
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