Last week’s stimulus moves by some of the world’s largest central banks

Last week’s stimulus moves by some of the world’s largest central banks coupled with yet another disappointing report on U.S. non-farm payrolls on Friday has left little for investors to be optimistic about other than the fact they’ll be one day closer to the weekend after today’s session. Interest rate cuts by the PBoC and ECB, quantitative easing by the BoE, and a meager 80,000 additional U.S. jobs have many believing that the aggressive moves to stimulate global economic growth are merely short-term fixes akin to duct-taping the edges of one’s drafty windows rather than replacing the windows all together. Spanish bond yields have moved back above 7% after easing slightly following last week’s interest rate cut by the ECB. China’s consumer price index showed a sharp decline in inflation after rising just 2.2% in June. Investors here in the U.S. are awaiting the start of second quarter earnings reports that will kick off with Alcoa set to report after the close. However, with U.S. equity futures pointing lower and the PGM complex holding firm it seems as though many are heading for the safe havens and the risk-off trade is in play. A report on May consumer credit is on tap for later this afternoon. Have a great day!

 

Metals	Last	%Change	Low	High
Au-Aug	1584.5	0.35%	1576	1587.3
Pt-Oct	1446.6	-0.20%	1449.5	1435
Pd-Sep	583.5	0.54%	575.40	583.90
Ag-Sep	27.230	1.15%	26.870	27.300
London	AM	PM	Minor	PGMs
Au	1581		Rh	1250
Pt	1440	1441	Ru	115
Pd	579	582	Ir	1100
Ag	27.24	DJI	12765.62	-0.05
Currencies
	USD	EUR	JPY	GBP
USD	0	0.8131	79.59	0.6447
EUR	1.22945	0	97.86	0.79281
JPY	0.01254	1.02169	0	0.008099
GBP	1.55045	1.261	123.39	0
Oil	Last	%Change	Low	High
Brent - Sep	98.1	0.31%	98.1	98.52
WTI - Sep	85.08	0.29%	84.51	85.59
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES