The Job Openings and Labor Turnover Survey (or JOLTS) report for September came out on November 7. Job openings remained unchanged at 6.1 million as of the last business day in September.
The Japanese yen (JYN) continued depreciating against the majors as political stability guaranteed the continuation of Abenomics.
The British pound (FXB) depreciated 0.40% against the US dollar (UUP) for the week ending November 3. The pound (GBB) closed the week at 1.3076.
The euro-dollar pair (FXE) closed the week ending November 3 at 1.1609 against the US dollar (UUP). Worries about a possible escalation of tensions in Spain’s Catalonia region proved futile.
US bond markets (BND) experienced volatility last week as markets reacted to the FOMC statement, the nomination of the new US Federal Reserve chair, and mixed economic data.
The US dollar index (UUP) remained supported last week despite a dovish FOMC statement and a lower-than-expected rise in monthly non-farm payrolls.
For the week ending November 3, the S&P 500 index (SPY) closed at 2587, recording gains of 0.26% for the week.
Global volatility trended lower, as there was a lack of any surprises from the three central banks that announced their monetary policy decisions last week.
The British pound depreciated 1.41% against the US dollar after the policy statement from the BOE (Bank of England) on November 2.
The central bank said that the key reason for such sharp increase in prices was due to the depreciation of the British pound after the Brexit referendum.
The BOE (Bank of England) in its November meeting increased its benchmark interest rates from 0.25% to 0.50%.
US private sector employment increased by 235,000 jobs in October. Non-farm jobs have bounced back from a downward revised 110,000 jobs in September.
At its October policy meeting, the Bank of Japan left its ultra-loose monetary policy unchanged. The decision was made by an 8-1 majority vote.
Investors often ask us which of the two main bond market risks they should focus on—interest rate or credit. Our answer? Both—and the way they interact with each other.
As with most timeframes in the market, the laggards are a mix of surprising and obvious names (in hindsight, of course). This October, they stand out a little more than usual since so many asset classes are up this year.
Since early September, US ten-year and longer-dated paper has been falling. Rates for the US government ten-year bond jumped from 2.04% on September 7 all the way to 2.36% on October 10.
If, in real estate, everything is “location, location, location,” then with natural gas investing, everything is “weather, weather, weather.”
Gold has had a solid year so far, up 13.5% through mid-October. And though it peaked in early September at over $1,350 per ounce, it had a quick drop back to $1,261 in early October only to bounce back over $1,300 in mid-October.
The reduction to the ECB’s bond-buying program will likely have a mixed impact on the bond markets of countries in the European Union.
In the ECB’s (European Central Bank) October policy meeting, its laid out its plans for the QE (quantitative easing) program.