Good gains for European stocks today
As London/European traders look toward the exits, they are leaving behind some decent gains in the major stock indices.
Italy's FTSE MIB led the charge on relief from the budget led to higher stocks and lower yields. The other major indices are ending near highs for the day.
IN the US, their indices are also higher with the Dow and S&P poised for record closes. The Nasdaq index is just shy of its all time record high close at 8163.99. THe high today reached 8158.42.
In other markets, as trader exit:
- spot gold, $-1.60 or -0.11% at $1417
- WTI crude oil futures are up $.28 or 0.47% at $56.54
- Bitcoin on Coinbase is up $690 at $11,390
In the US debt market yields are moving lower with the yield curve flattening. 2 year yields are unchanged while 30 year yields are down on this 3.3 basis points.
In Europe, the benchmark 10 year yields are lower with the Italian BTP shedding -25.5 bps. Italy averted EU sanctions threat over its debt in a last-minute offer today.
In the forex market, the AUD has continued to move higher in the NY morning session and remains the strongest of the majors. The GBP remains the weakest.
For the USD, iit is mostly lower but has moved into the positive territory vs the EUR and CHF (was negative at the start of the day). Losses vs the AUD and NZD has moved even lower in the NY morning session.
