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Market Update – December 21


  • The USD Index At 103.50 bottom. Stocks increase overnight after they were pummeled Tuesday by the BoJ’s surprise hawkish tweak in its yield curve control. Yields: JGB 2-year rose above zero The following are the recommendations: First time since 2015. The yield on the 10-year Treasury note fell 11 bps to 3.706%. Curve inversion widened another 10 bps per day to -57.9bps. This compares to the -82.4 bps two weeks earlier.
  • EUR -jumps 20 pip at the EU open lower to 1.0630. German GfK consumer confidence increased This is a bit higher than expected. This number is closer to what we expected, which was a short-term, shallow recession.
  • JPY – trimmed -4% to 130.55. – Higher yields at home could make it more attractive for Japanese investors to repatriate some funds.

  • Stocks – Nikkei lost a further -0.7% after the BoJ’s curve ball yesterday. The ASX bounced 1.3%, and China bourses are also higher – as are stock futures across Europe and the US. The NASDAQ Flat at 33,230With the S&P 500 at 3,868, & the Dow Up to 0.25% #TSLA Yesterday’s collapse continued at -8%
  • USOil – Flat starting at $75, Brent trading at $80.01 One barrel
  • Gold – Higher held at $1,815.

Today Canadian Inflation & US Consumer Confidence….

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