Financial News for the Week ending May 22, 2020

Source:
http://creditbubblebulletin.blogspot.com/2020/05/weekly-commentary-just-facts-may-22-2020.html

For the Week

ending on

May 22, 2020:

S&P500 rallied 3.2% 

   (down 8.5% y-t-d)

Dow Industrials rose 3.3% 

    (down 14.3%)

Dow Utilities gained 2.8% 

   (down 12.2%)

Dow Transports surged 9.1% 

    (down 22.3%)

S&P 400 Midcaps jumped 7.4% 

    (down 17.8%)

Small cap Russell 2000 

surged 7.8% 

    (down 18.8%)

Nasdaq100 gained 2.9% 

    (up 7.8%)

Biotechs increased 2.3% 

    (up 10.9%). 

With gold bullion down $9, 

the HUI gold stock index 

slumped 4.0% 

    (up 17.9%).

Ten-year Treasury bond yields 

rose two bps to 0.66% 

U.K.'s FTSE jumped 3.3% 

    (down 20.5% y-t-d).

Japan's Nikkei gained 1.8%

     (down 13.8% y-t-d)

France's CAC40 rallied 3.9%

     (down 25.7%)

German DAX recovered 5.8% 

    (down 16.4%). 

Spain's IBEX 35 rose 3.4% 

    (down 29.9%).

 Italy's FTSE MIB gained 2.8% 

    (down 26.3%). 

Brazil's Bovespa rallied 6.0% 

   (down 28.9%)

Mexico's Bolsa increased 0.3% 

   (down 17.8%). 

South Korea's Kospi gained 2.2% 

   (down 10.4%). 

India's Sensex declined 1.4%

     (down 25.6%). 

China's Shanghai fell 1.9% 

    (down 7.7%). 

Turkey's Istanbul National 100

 recovered 3.3% 

    (down 10.0%). 

Russia's MICEX rallied 4.5% 

    (down 11.0%).

U.S.  MORTGAGES:

Freddie Mac 30-year fixed mortgage rates 

fell four bps to 3.24% (down 82bps y-o-y). 

Fifteen-year rates slipped two bps to 2.70% 

    (down 81bps). 

Five-year hybrid ARM rates

 declined a basis point to 3.17% 

    (down 51bps). 

Jumbo mortgage 30-year fixed rates 

   down three bps to 3.64% 

      (down 57bps).

Federal Reserve Credit

over the past year

expanded 81%. 

M2 (narrow) 

"money" supply 

surged 23.3%, 

over the past year. 

Commodities Watch:

Bloomberg Commodities Index 

rallied 1.8% 

   (down 22.4% y-t-d). 

Spot Gold slipped 0.5% to $1,731 

   (up 14.3%). 

Silver jumped 3.6% to $17.693 

   (down 1.3%). 

WTI crude oil surged $3.82 to $33.25 

   (down 46%). 

Gasoline rose 7.0%

    (down 39%)

Natural Gas gained 5.2% 

   (down 21%). 

Copper recovered 2.4% 

    (down 15%). 

Wheat rallied 1.7% 

   (down 9%). 

Corn slipped 0.4% 

   (down 18%).