Financial news in the week ending April 10, 2020

Source:
http://creditbubblebulletin.blogspot.com/2020/04/weekly-commentary-when-money-died.html

For the 

week ending

April 10, 2020:

S&P500 surged 12.1% 
   (down 13.6% y-t-d)

Dow Industrials rose 12.7% 
   (down 16.9%)

Dow Utilities vaulted 17.2% 
    (down 4.6%)

Dow Transports jumped 12.8% 
    (down 24.4%)

S&P 400 Midcaps surged 18.6%
     (down 23.1%)

Small cap Russell 2000 jumped 18.5%
     (down 25.3%)

Nasdaq100 gained 9.4%
      (down 5.7%)

Biotechs increased 7.3% 
   (down 6.6%).

 With bullion surging $76, 
the HUI gold stock  index 
surged 16.1% 
    (down 3.8%).

U.K.'s FTSE 
rallied 7.9% 
    (down 22.5%)

Japan's Nikkei 
recovered 9.4% 
   (down 17.6% y-t-d)

France's CAC40 
rallied 8.5% 
   (down 24.6%)

German DAX 
jumped 10.9% 
   (down 20.3%)

Spain's IBEX 35 
gained 7.4% 
   (down 26.0%)

Italy's FTSE MIB
rallied 7.6% 
   (down 25.0%)

Brazil's Bovespa 
surged 11.7% 
   (down 32.8%)

Mexico's Bolsa 
increased 4.5% 
   (down 20.6%)

South Korea's Kospi 
jumped 7.8% 
   (down 15.3%)

India's Sensex 
surged 12.9% 
   (down 24.5%)

China's Shanghai
increased 1.2% 
   (down 8.3%)

Turkey's Istanbul National 100
 rose 7.7% 
   (down 15.7%)

Russia's MICEX 
jumped 4.1% 
   (down 12.1%).

 US BONDS & MORTGAGES
Ten-year Treasury yields
 jumped 12 bps to 0.72% 
   (down 120bps). 

Long bond yields 
rose 13 bps to 1.34% 
   (down 105bps). 

Freddie Mac 
30-year fixed mortgage rates 
were unchanged at 3.33% 
   (down 79bps y-o-y). 

Fifteen-year rates 
fell five bps to 2.77% 
   (down 83bps). 

Five-year hybrid ARM rates 
were unchanged at 3.40% 
   (down 40bps)

Jumbo mortgage 
30-year fixed rates 
down 11 bps to 3.86% 
   (down 39bps).

Federal Reserve Credit 
last week surged $393bn 
to a record $5.968 TN, 
with a 31-week gain
 of $2.246 TN. 
Over the past year, 
Fed Credit expanded 
$2.071 TN, or 53%. 

M2 (narrow) "money" 
supply surged another
 $371bn last week 
to a record $16.669 TN, 
with an unprecedented
five-week gain of $1.136 TN.
 "Narrow money" surged 
$2.123 TN, or 14.6%, 
over the past year. 

Commodities Watch:

Bloomberg Commodities Index 
recovered 2.1% 
   (down 21.5% y-t-d). 

Spot Gold surged 4.7% to $1,697 
   (up 11.8%). 

Silver rallied 12.1% to $16.242 
   (down 9.4%). 

WTI crude sank $5.58 to $22.76 
   (down 63%).

 Gasoline declined 2.1% 
   (down 60%)

Natural Gas rallied 6.9% 
   (down 21%). 

Copper rose 3.1% 
   (down 19%). 

Wheat gained 1.5% 
   (unchanged). 

Corn recovered 1.8% 
   (down 13%).