Credit Bubble Bulletin

Credit Bubble Bulletin2018-10-30T12:00:02-07:00

Presented by Doug Noland

Weekly Commentary

November 29, 2019: Just the Facts

For the Week:

The S&P500 gained 1.0% (up 25.3% y-t-d), and the Dow added 0.6% (up 20.3%). The Utilities were unchanged (up 19.0%). The Banks added 0.4% (up 27.9%), and the Broker/Dealers jumped 2.1% (up 21.7%). The Transports increased 0.7% (up 18.4%). The S&P 400 Midcaps rose 1.2% (up 20.9%), and the small cap Russell 2000 jumped 2.2% (up 20.5%). The Nasdaq100 advanced 1.6% (up 32.8%). The Semiconductors rose 1.5% (up 48.6%). The Biotechs surged 3.5% (up 18.5%). Though bullion fell $18, the HUI gold index gained 1.9% (up 33.8%).

Three-month Treasury bill rates ended the week at 1.54%. Two-year government yields dipped one basis point to 1.61% (down 88bps y-t-d). Five-year T-note yields were unchanged at 1.63% (down 89bps). Ten-year Treasury yields added one basis point to 1.78% (down 91bps). Long bond yields declined two bps to 2.21% (down 81bps). Benchmark Fannie Mae MBS yields slipped a basis point to 2.70% (down 80bps).

Greek 10-year yields rose five bps to 1.43% (down 297bps y-t-d). Ten-year Portuguese yields were about unchanged at 0.40% (down 132bps). Italian 10-year yields gained five bps to 1.23% (down 151bps). Spain’s 10-year yields added a basis point to 0.42% (down 100bps). German bund yields were unchanged at negative 0.36% (down 60bps). French yields slipped a basis point to negative 0.05% (down 76bps). The French to German 10-year bond spread narrowed one to 31 bps. U.K. 10-year gilt yields declined one basis point to 0.70% (down 58bps). U.K.’s FTSE equities index added 0.3% (up 9.2% y-t-d). (more…)

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Doug Noland Interview: “In The Next Crisis The Fed’s Balance Sheet Will Hit $10 Trillion”

To read the entire article from Zero Hedge with Doug Noland, be sure to click here.