European indices hang onto gains for the day

The major European indices are closing the day with gains across the board:

• German DAX rose 0.50%
• Frances CAC rose 0.45%
• UK's FTSE 100 rose 0.31%
• Spain's Ibex rose 0.56%
• Italy's FTSE MIB +1.0%

For the trading week:

• German DAX fell -0.30%
• Frances CAC fell -0.24%
• UK FTSE 100 fell -0.31%
• Spain's Ibex rose 0.95%

Looking around other markets as London/European traders look to exit, US stocks have turned negative:

• Dow industrial average down to 73 points or -0.22%
• S&P index -12 points are -0.29%
• NASDAQ index -54 points are -0.44%

In the US debt market

• 2 year yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term 3.985% +7.9 basis points
• 10 year yield 3.436% +3.9 basis points
• 30 year yield 3.755% +1.1 basis points

In the European debt market this week, the benchmark 10 year yields are little changed:

• German 10 year yield is at 2.269%, unchanged on the week
• France 10 year 2.856% -1.0 basis points
• UK's 10 year 3.775%, unchanged
• Spain's 10 year 3.357%, unchanged
• Italy 10 year 4.176% -1.8 basis points

Looking at other markets:

• Crude oil Crude Oil Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Read this Term gave up its earlier gains (high price reached $71.78) and is trading now down around $0.70 at $70.14
• Gold is trading down $4.54 or -0.23% at $2010.31
• Silver is trading down $0.27 or -1.13% at $23.89
• Bitcoin is trading lower at $26,319. At 5 PM yesterday the price was trading just above the $27,000 level

The USD is the strongest of the majors and the NZD is the weakest. The USD moved higher after the Michigan five-year inflation expectations rose to the highest level since 2011. Flight to safety flows from debt ceiling/budget concern and higher rates are also propelling the US dollar higher today.