SAFE-HAVEN ASSETS ROSE against junk bonds in net prices linked to actual trades once again driving the
10-year note
below 2 percent.
Gold rallies
Tuesday following its
sharpest daily drop
in more than a year
“as global slowdown worries are growing”
among the markets. Investors
anxiously
await payroll figures
to be released on Friday
after Independence Day on Thursday
to decide on their risk appetite.
The 10-year note sank 4.8 basis points
. S&P
+0.29%,
DOW +0.26,
NASDAQ
+0.22%
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MAJOR EU BANKS FACE A 135 BILLION EURO DEFICIT in order to comply with
global capital requirements
to be implemented in 2027 according to the Basel III, an international banking regulation standard in
response to the 2008 financial crisis. Banks on average need to
raise their capital by 24.4 percent
in order to fully comply with the regulation.
FTSE 100 +0.78%,
German DAX +0.02%,
CAC 40+0.16%,
STOXX Europe 600
+0.35%. The
10-year
Gilt plummeted 7.8 basis points.
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MANUFACTURING ACTIVITY DECLINES IN JUNE to nearly a three year low indicating the trade spat with China is impacting factory output. The gauge of activity slipped to 51.7 from 52.1 marking the third straight month of deteriorating data. Senior money market economist Thomas Simmons at Jefferies mentioned, “If the White House is able to forge a solid trade deal with China, both investment spending and manufacturing activity will again improve.” The 10-year note advanced 2.0 basis points. S&P +0.77%, DOW +0.44, NASDAQ +1.06%
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MANUFACTURING ACTIVITY DECLINES IN JUNE to nearly a three year low indicating the trade spat with China is
impacting factory output. The gauge of
activity slipped to 51.7 from 52.1
marking the third straight month of deteriorating data. Senior money market economist Thomas Simmons at Jefferies mentioned,
“If the White House is able to forge a solid trade deal with China, both investment spending and manufacturing activity will again improve.”
The 10-year note advanced 2.0 basis points
. S&P
+0.77%,
DOW +0.44,
NASDAQ
+1.06%
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EURO ZONE LENDING HELD STEADY IN MAY a relief to many investors
fearing an imminent recessionis upon the bloc.
Corporate lending grew
at an annual rate of 3.9 percent and
household lending
advanced
by 3.3 percent, both expanding at a faster rate than expected. In spite of the positive report, European Central Bank chief Mario Draghi stated
“In the absence of improvement... additional stimulus will be required”
hinting to
Quantitative Easing.
FTSE 100 +1.17%,
German DAX +1.18%,
CAC 40+0.83%,
STOXX Europe 600
+0.86%. The
10-year
Gilt slipped 2.8 basis points.
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EQUITIES ROSE ON FRIDAY following the nation’s largest banks passing the Federal Reserve’s stress tests. Meanwhile, investors are keeping a watchful eye on the G20 summit in Japan awaiting news of progress toward a resolution to the trade spat. “What investors expect are good talks, no implementation of tariffs right away and a continuation in negotiations.” The 10-year note dipped 1.7 basis points. S&P +0.32%, DOW +0.19, NASDAQ +0.24%.
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EQUITIES ROSE ON FRIDAY
following the nation’s
largest banks passing the Federal Reserve’s stress tests.
Meanwhile, investors are keeping a watchful eye on
the G20 summit
in Japan awaiting news of
progress toward a resolution
to the trade spat.
“
What investors expect are good talks, no implementation of tariffs right away and a continuation in negotiations.”
The 10-year note dipped 1.7 basis points
. S&P
+0.32%,
DOW +0.19,
NASDAQ
+0.24%.
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CONSUMER CONFIDENCE IN THE UNITED KINGDOM
SLIPPED
in June to minus 13 from a reading of minus 10 in May. Analysts are calling this the new normal,
"While UK consumers continue to remain concerned about the wider economy, over which the woman or man in the street has no control, of greater worry, are the falls in the measures for personal finance,"
FTSE 100 +0.13%,
German DAX +1.06%,
CAC 40
+0.83%,
STOXX Europe 600
+0.63%. The
10-year
Gilt rose 0.5 basis points.
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FED PRESIDENT MARY DALY of San Francisco believes the time is not right to cut rates, “It’s too early from my perspective to know whether we should use the tool at all and what magnitude of the tool we should apply.” Mortgage rates tumble to 3.73 percent for a 30-year marking a two-and-half year low. Sam Khater Chief Economist at Freddie Mac stated, “While the industrial and trade-related economic data continues to dominate the news, the drop in mortgage rates over the last two months is already being felt in the housing market.” The 10-year note dipped 3.8 basis points. S&P +0.47%, DOW +0.08, NASDAQ +0.77%.
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FED PRESIDENT MARY DALY
of San Francisco believes the time is not right to cut rates,
“It’s too early from my perspective to know whether we should use the tool at all and what magnitude of the tool we should apply.”
Mortgage rates tumble to 3.73 percent for a 30-year marking a two-and-half year low. Sam Khater Chief Economist at Freddie Mac stated
, “While the industrial and
trade-related economic data continues to dominate the news, the drop in mortgage rates over the last two months is already being felt in the housing market.”
The 10-year note dipped 3.8 basis points
. S&P +0.47%,
DOW +0.08,
NASDAQ +0.77%.
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Topics:
Investment Grade,
Loans,
Analytics,
bonds,
junk bonds,
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Syndicated Bonds,
syndicated,
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market update
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