UK FTSE has a small decline

The European major stock indices are now closed and most are ending with gains:

  • German DAX rose 0.4%
  • France's CAC rose 0.2%
  • UK's FTSE buck the trend, falling -0.1%
  • Spain's Ibex rose 0.6%
  • Italy's FTSE MIB rose 0.55%
  • Portugal PSI 20 of 0.61%

In the benchmark 10 year note sector, yields were mostly higher. Italian yields were the exception once again as budget confidence drives more flows and lower yields.

in other markets as London/European traders look to exit:

US yields moved to new 4 month highs in the 10 and 30 year debt instruments. The 10 year is up 4.6 bps. The 30 year is up 5.1 bps. The yield curve is also widening at 24.24 bps up 3.4 bps.

US stocks have ignored the tariffs today and are trading near session highs:

  • S&P index of 18.35 points or 0.63%
  • NASDAQ up 82.5 points or 1.04%
  • Dow up 137.60 points or 0.53%

In the forex market, the AUD remains the strongest currency, while the JPY is the weakest as risk on flows continue. The USD is lower still with most of the declines coming against the CAD, AUD and NZD.

  • Spot gold is down -$2.00 or 0.16% at $1199.45
  • WTI crude oil is up $0.83 or 1.22% at $69.75.
  • Bitcoin is trading up $138 at $6354.69 (near highs for the day). Looking at the hourly chart below, the price is moving back toward the 100 hour MA at $6393.18. The high for the day just reached $6384.04.