Saturday, December 7, 2013

As The World Turns

By, Chris Rossini

Below you'll find snapshots of how major markets around the world ended the week.

U.S. - Dow Jones Industrial Average -.41%

China - Shanghai Composite Index +.75%

Japan - Nikkei -2.31%

UK - FTSE -1.48%

Germany - DAX Composite -2.48%

Spain - Madrid General Index -4.43%

Brazil - Bovespa Stock Index -2.93%

Israel - Tel Aviv 25 Index +.74%

Switzerland - Swiss Market Index -2.40%

Gold -1.71%

Silver -2.40%

Crude Oil +5.43%

U.S. Dollar Index -.48%

Euro +.88%

U.S. 30YR T-Bond Yield +2.86%

1 comment:

  1. Please consider that the “age of deflation” has commenced; “fiat wealth deflation” has commenced as deflationism is underway, The European Financials, EUFN, and the European Stocks, EZU, and Italy, EWI, and Spain, EWP, are leading the global stock market lower.

    The bull market that began in June 2013, turned to a bear market on December 6, 2013, as the bond vigilantes called the Interest Rate on the US Ten Year Note, ^TNX, higher to 2.88%. Tyler Durden in article Stocks Tank ... ...presents Bloomberg chart showing that both stocks and credit have now failed, as bond vigilantes have called the Interest Rate on the US Ten Year Note, ^TNX, higher to 2.88%..

    World Financials, IXG, closed 1.2% higher, on the day, 1.5%, lower on the week.

    World Stocks, VT, closed 1.2% higher, on the day, 0.8%, lower on the week.

    Nation Investment, EFA, close 1.2% higher, on the day, 1.3%, lower on the week.

    Loss leaders for the week were the European Financials, EUFN, the Brazil Financials, BRAF, and Retail, XRT, with Apparel Retailers were down strongly this week.

    European Financial, EUFN, closed 1.8% higher, on the day, 2.4%; lower on the week.

    Eurozone Stocks, EZU, closed 1.4% higher, on the day; 2.1% lower on the week.

    Italy, EWI, closed 1.5% higher, on the day; 3.5% lower on the week.

    Spain, EWP, closed 0.8% higher, on the day; 3.2% lower on the week.

    The failure of investment seigniorage in the European Financials, EUFN, is most striking given the rallying EUR/JPY, which is seen in the chart of the spread between ULE and YCL.

    Brazil Financials, BRAF, closed unchanged on the day; 5.9% lower on the week.

    Brazil, EWZ, closed 1.3% higher on the day; and 3.7% lower on the week.

    Retail, XRT, closed 0.6% lower, on the day; 2.5%, lower on the week.

    Please consider that the trade lower in fiat wealth, that is World Stocks, VT, on the week ending December 6, 2013, coming on the rise of the Benchmark Interest Rate, ^TNX, to 2.88%, marked an epic change, that being the destruction of both fiat money and fiat wealth, that has pivoted the world out of the age and paradigm of liberalism .... and into the age and paradigm of authoritarianism.