Mar

17

A couple of non-equity market indicators at the close of today I think may be worthwhile to look at: Inflation — the 5 year, 5 year forward inflation breakeven fell 33bps to 2.32%. The high was on March 6 at 2.80%. Credit — opened wider but closed 5bps tighter on investment grade CDS, 10 year swap spreads down 9bps.  Commodities — after being up around 3% Gold closed unchanged, other barometers were down much more with the DJAIG down 4.5%. Currencies — opened weak and DXY closed down .28% from an initial move of down 1% plus depending on the pair, the dollar was noticeably stronger versus GBP, NZD, AUD.


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