Mixed picture w m go, a mixed picture with the cac 40 and to 10 and the dax is up sub 1 and the ftse 100 in the u. K. Up 5 10 of 1 and the ibex in spain one of the worst performers. Asset on a across headline level with european equities unchanged. Space, a little bit of Dollar Strength which means cable off by 1 10 of a percent. Interesting dynamics around sterling with employment and wage data with mark carney testifying and news about brexit geared brexit. And the u. K. And their view on the transitional deal. We ceos move lower we see yield move lower in the core and periphery. Thematic chart that i got from Marcus Ashworth. Spain and the u. S. s 30 year yields rapidly diverging. Front and. At the end. The final chart, i mentioned the euro, after flash pmi data on the eurozone coming in weaker than expected. The euro off slightly and approaching its trendline since middecember as momentum appears to be favoring losses. We like to watch the technical charts. In the u. S. , the major
We are under 30 minutes to the close on equity trading in europe, and we are seeing some gains in european equities. A bit of by divergence between europe and the u. S. You can see broadbase base looking at the regions, the euro stoxx 50 up. Ibex is one of the better performers, up. 7. We have seen gains on the dax and cap 40 cac 40. Overall, equities are in the green. The fx space has been the story of dollar strength, bouncing back room a threeyear low. Euro down. 5. Cable unchanged. Not such a sizable move in that fixed income spaces. Of movement there. If we turn our attention to the stoxx 600 and what is happening within the Industry Groups, most are gaining on the headline level in the benchmark up. 4. Construction and industrial Good Companies leading gains and lagging are commodity producers, down. 5. Thanks also underperforming. Banks also underperforming. To the fx space, i was talking euro weakness. G10. Did well compared to the games have slowed as the rally in the yen has
Touch and go whether they will rise for a fourth consecutive week. Looking likely. Ivy smallest of margins. The smallest of margins. Bond yields gaining today with your final and cds two columns. A minus number on the bottom half of your screen. Euro is the blue line. This chart is telling us that the euro this and this year is making people less worried about the correlation between the two, the inverse correlation is breaking down. Still a minus, but has come down from a negative five 28. 6 with investors focusing on the Positive Side of the economic story rather than the fact that the strong euro pushes down on inflation. We had gdp data today. The economyyou that ended the difficult year on a stronger note with better than expected gdp data in the Fourth Quarter but the year was a disappointment. This is gdp on a quarterly basis going back to 2003. Rand has been a big subject for the last month or so. This is the randdollar rate at the median forecast, the white line. As the rand r
What is happening in the u. S. Where indices are off their lowes of the day. Still a sea of red across the main boards led by greece. Italy is down by 1. 5 . Portugal 1. 9 lower. The stoxx 600 falling for the sixth day. It was down by 1. 6 and the biggest drop since september 2016. The biggest today slump since july 2016. We had the biggest weekly slot since november 2016. The dollar is in the ascendance today with all these currencies trading lower. Bond yields are declining so the haven that is bond yields, that trade is working in the bond markets favor across europe. Commodities and cds is your final two columns. Ryan air boosting its net income by 12 to 106 million in the fiscal third quarter. It launched a 750 million share buyback. On carrier valley not to add the costs of rising labor and fuel to its customers. Easyjet is forecasting summer fare increases over the demise of rivals. Ryanairf executive of morning today that he is willing to endure pilot walkouts rather than then
Rising. But general feeling is one of where we are down for the third day in four days after dropping for the first week. Equities are declining and stocks falling, currencies falling against the dollar include the pound, the euro, the danish krone, the swiss franc. Rising, andare getting back to the bond market, betting on spanish bond outperformance versus italys performance is a question many are asking. The upgrade from fish, traders have been lessened theres a listen through the ecig about italian less enthusiastic about italian trading. Chart, see this from the from a low 24 basis points a month ago. Our police strategists recommend barclays strategists recommended closing the trade against spanish bonds. Spainis underperforming and the bulk of a divergence is done. Time will tell. A big week for eurozone data, wonderful chart highlighting Economic Confidence. The blue lines employment growth in the white line is gdp growth rate the green bars, a lot of data should show Economic