Financial Review

How Low Can It Go?


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US Treasuries hit new lows. Pound at 30 year low. Factory orders and durable goods orders dip. Home prices – more of the same. UK RE funds freeze. Italian banks go sour. USA the oiliest. Juno goes Jovian. Google DeepMind wants to see your eyes. Three more Libor convictions. Financial Review by Sinclair Noe for 07-05-2016 DOW – 108 = 17,840 SPX – 14 = 2088 NAS – 39 = 4822 10 Y – .09 = 1.36 OIL – 2.39 = 46.60 GOLD + 5.70 = 1357.20 Longer-end Treasury yields traded near record lows, with the 30-year yield around 2.15 percent. The 10-year yield dropped to an all-time low of 1.367 percent. The U.S. dollar index posted another gain to 96.28, with the euro around $1.11 and the pound sterling traded near $1.30, levels not seen in more than 30 years. European stocks were mostly lower, with the German DAX off more than 1.5 percent. The STOXX Europe 600 Banks index underperformed, trading about 2 percent lower.   Factory orders in the U.S. fell 1% in May after two straight gains. So far this year, orders for manufactured goods have dropped 1.9 percent to $2.2 trillion compared to the same period in 2015. Demand in a category that serves as a proxy for business investment – non-military goods that exclude the volatile aircraft category – slipped 0.4 percent in May. The Commerce Department also reports durable goods orders declined 2.3%. Demand for mining and energy-related equipment slid 5.8% following a 20.8% plunge in ...
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Financial ReviewBy Sinclair Noe