Market Talk – Thursday, Feb. 20

The Federal Bureau of Investigation (FBI) purchased $40,000 worth of face masks and hand sanitizers this Thursday. The materials will be distributed and stored throughout the nation to prepare for a potential pandemic. Although there have only been a few cases of the virus in the US, the agency wants to be prepared if matters worsen.

US Market Closings:

  • Dow declined 128.05 points or -0.44% to 29,219.98
  • S&P 500 declined 12.92 points or -0.38% to 3,373.23
  • Nasdaq declined 66.21 points or -0.67% to 9,750.96
  • Russell 200 advanced 3.5 points or 0.21% to 1,696.07

Canada Market Closings:

  • TSX Composite advanced 18.7 points or 0.1% to 17,944.06
  • TSX 60 advanced 1.01 points or 0.09% to 1,069.29

Brazil Market Closing:

  • Bovespa declined 1,931.35 points or -1.66% to 114,586.24

ENERGY:

EIA reported a build in Crude of 414k barrels compared to an estimate of 2.4m barrels, which helped sustain the rally with Brent crude nearing 60 USD per barrel.

The oil markets had a mixed day today:

  • Crude Oil increased 0.44 USD/BBL or 0.83% to 53.7178
  • Brent increased 0.17 USD/BBL or 0.29% to 59.2700
  • Natural gas decreased 0.0539 USD/MMBtu or -2.74% to 1.9100
  • Gasoline decreased 0.0115 1USD/GAL or -0.69% to 1.6636
  • Heating oil decreased 0.0143 USD/GAL or -0.84% to 1.6936
  • Top commodity gainers: Crude Oil (0.83%), Steel (1.43%), Bitumen (0.84%), and Lumber (0.54%)
  • Top commodity losers: Platinum (-2.76%), Palm Oil (-6.76%), Natural Gas (-2.74%), and Coffee (-2.53%)

The above data was collected around 16.15 EST on Thursday.

BONDS:

Japan -0.04%(+1bp), US 2’s 1.39% (-3bps), US 10’s 1.52%(-5bps); US 30’s 1.97%(-4bps), Bunds -0.44% (-2bp), France -0.21% (-3bp), Italy 0.92% (-2bp), Turkey 11.71 % (+37bp), Greece 0.98% (+1bp), Portugal 0.22% (-0bp); Spain 0.24% (+2bp) and UK Gilts 0.58% (-2bp).

  • French 3-Year BTAN Auction decreased from -0.53% to -0.59%
  • French 5-Year BTAN Auction decreased from -0.38% to -0.50%
  • Spanish 10-Year Obligacion Auction decreased from 0.347% to 0.240%
  • US 4-Week Bill Auction increased from 1.560% to 1.575%
  • US 8-Week Bill Auction increased from 1.565% to 1.570%
  • US 30-Year TIPS Auction decreased from 0.501% to 0.261%
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