Financial News from last week

Source:
http://creditbubblebulletin.blogspot.com/2020/05/weekly-commentary-schumpeters-business.html

For the 

week ending 

May 8, 2020:

S&P500 jumped 3.5% (down 9.3% y-t-d)

Dow Industrials rose 2.6% (down 14.7%)

Dow Utilities increased 0.4% (down 12.3%)

Dow Transports gained 2.3% (down 23.6%)

S&P 400 Midcaps surged 5.4% (down 18.8%)

Small cap Russell 2000 jumped 5.5% 

   (down 20.3%)

Nasdaq100 advanced 5.8% (up 5.6%)

Biotechs rose 6.9% (up 5.9%). 

With bullion up $2, the HUI

 gold stock index rose 5.8% (up 17.9%).

Ten-year Treasury yields 

rose seven bps to 0.69% 

   (down 123bps).

Freddie Mac 30-year 

fixed mortgage rates 

gained three bps to 3.26% 

   (down 84bps y-o-y). 

Fifteen-year rates 

declined four bps to 2.73% 

   (down 84bps). 

Five-year hybrid ARM rates 

increased three bps to 3.17%

   (down 46bps). 

Jumbo mortgage 

30-year fixed rates 

up two bps to 3.66% 

   (down 57bps).

Federal Reserve Credit 

Over the past year, 

expanded $2.811 TN, or 73%. .

M2 (narrow) "money" supply

surged $2.998 TN, or 20.6%, 

over the past year.

Bloomberg Commodities Index 

rallied 2.7% (down 23.0% y-t-d). 

Spot Gold added 0.1% to $1,703 (up 12.2%). 

Silver surged 5.6% to $15.778 (down 12.0%).

WTI crude surged $4.96 to $24.74 (down 60%). 

Gasoline surged 24.3% (down 44%)

Natural Gas dropped 3.5% (down 17%). 

Copper rallied 4.1% (down 14.0%). 

Wheat gained 1.1% (down 7%). 

Corn increased 0.2% (down 18%).