Market Talk – Thursday, March 26

The Department of Justice (DOJ) charged President Maduro with conspiracy to commit narco-terrorism. The DOJ alleged that Venezuela’s president aided in smuggling narcotics into the US and is offering a multi-million dollar reward for the capture of Maduro and his co-conspirators. The penalty for this crime is 50 years imprisonment, which would be a life sentence for the 57-year-old president.

US Market Closings:

  • Dow advanced 1,351.62 points or 6.38% to 22,552.17
  • S&P 500 advanced 154.51 6.24% to 2,630.07
  • Nasdaq advanced 413.24 points or 5.6% to 7,797.54
  • Russell 2000 advanced 69.95 points or 6.3% to 1,180.32

Canada Market Closings:

  • TSX Composite advanced 231.94 points or 1.77% to 13,371.17
  • TSX 60 advanced 13.68 points or 1.7% to 816.23

Brazil Market Closing:

  • Bovespa advanced 2,754.09 points or 3.67% to 77,709.66

ENERGY:

Mixed performance in crude with Brent dropping close to 5% and closing below the 30 USD mark. WTI, however, climbed 2.39%.

The oil markets had a mixed day today:

  • Crude Oil decreased 0.82 USD/BBL or -3.37% to 23.5000
  • Brent decreased 0.31 USD/BBL or -1.13% to 27.1400
  • Natural gas decreased 0.036 USD/MMBtu or -1.97% to 1.7940
  • Gasoline increased 0.0555 USD/GAL or 8.65% to 0.6974
  • Heating oil decreased 0.0157 USD/GAL or -1.42% to 1.0904
  • Top commodity gainers: Ethanol (15.78%), Gasoline (8.65%), Gold (1.37%), and Silver (1.38%)
  • Top commodity losers: Lean Hogs (-4.34%), Crude Oil (-3.37%), Oat (-2.09%), and Live Cattle (-2.97%)

The above data was collected around 11.40 EST on Thursday.

BONDS:

Japan 0.00%(-4bp), US 2’s 0.31% (-8bps), US 10’s 0.79%(-6bps); US 30’s 1.37%(-2bps), Bunds -0.29% (+4bp), France 0.06% (-15bp), Italy 1.45% (-11bp), Turkey 12.91% (+59bp), Greece 2.13% (-32bp), Portugal 0.73% (-28bp); Spain 0.70% (-18bp) and UK Gilts 0.40% (-5bp).

  • US 4-Week Bill Auction decreased from 0.030% to 0.000%
  • US 8-Week Bill Auction decreased from 0.030% to 0.000%
  • US 7-Year Note Auction decreased from 1.247% to 0.680%
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Disclosure: None.

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