July in Figures

July in Figures

July 31, 2017

On the final day of July, the Dow hit a record high, and the dollar touched its weakest level against the euro since January 14, 2015 and softest yen value since mid-June. July was a difficult month for the U.S. presidency, even by Trump standards. Also, the future path of Fed policy became less certain, as inflation continued to track lower than expected and the expiration of Janet Yellen’s current four-year term is now just a half year away.  Oil recovered 9.1% in the month, and gold rose 2.4%. In Canada, whose central bank interest rate was increased for the first time since January 2015, the 10-year sovereign debt yield climbed 28 basis points. All other 10-year bond yield changes in the table below were less than 9 basis points in the month, including a 1-basis point dip in the U.S. Treasury. Subdued inflation wasn’t limited to the United States and was was a major economic theme during the month of the global economy. The silver lining of the weak dollar is that U.S. stocks outperformed other equity markets.

10-Yr Yield 06/30/17 07/31/17 Chg vs End-Jun
U.S. 2.30% 2.29% -1 Basis Point
Germany 0.46% 0.54% +8
Japan 0.07% 0.07% 0
U.K. 1.25% 1.23% -2
Canada 1.77% 2.05% +28
Switzerland -0.07% -0.01% +6
3-month rates 06/30/17 07/31/17 Chg vs End-Jun
U.S. 1.30% 1.31% +1 Basis Point
Euroland -0.37% -0.38% -1
Japan 0.00% -0.01% -1
U.K. 0.31% 0.29% -2
Swiss -0.73% -0.73% 0
FX 06/30/17 07/31/17 Pct Chg in $
EUR/USD 1.1420 1.1840 -3.5%
USD/JPY 112.46 110.26 -2.0%
USD/CHF 0.9586 0.9669 +0.9%
GBP/USD 1.3027 1.3211 -1.4%
AUD/USD 0.7689 0.8000 -3.9%
NZD/USD 0.7325 0.7513 -2.5%
USD/CAD 1.2967 1.2477 -3.8%
USD/CNY 6.7809 6.7266 -0.8%
Equities 06/30/17 07/31/17 Chg vs End-Jun
S&P 500 2423 2470 +1.9%
Nasdaq 6140 6348 +3.4%
Djia 21350 21891 +2.5%
Dax  12325 12118 -1.7%
Nikkei 20032 19925 -0.5%
Ftse 7313 7372 +0.8%
Canada TSE 15182 15143 -0.3%
Swiss SMI 8907 9055 +1.7%
Commodities 06/30/17 07/31/17 Chg vs End-Jun
Oil, $ per barrel 46.04 50.24 +9.1%
Gold, $ per ounce 1240.70 1269.90 +2.4%

Copyright Larry Greenberg 2017.  All rights reserved.  No secondary distribution without express permission.

Tags: bond yields, Dollar, gold, Oil, stocks




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