Market Talk – Tuesday, Feb. 16

Europe has overtaken the US as China’s top trading partner. Exports to China from the European Union advanced 2.2% in 2020, while exports rose by 5.6%. In contrast, exports to America declined -8.2% and imports dropped -13.2%. Furthermore, the EU made a deal with China that allow new investment and businesses to operate in China with less red tape.

US Market Closings:

  • Dow advanced 64.35 points or 0.2% to 31,522.75
  • S&P 500 declined 2.24 points or -0.06% to 3,932.59
  • Nasdaq declined 47.97 points or -0.34% to 14,047.5
  • Russell 2000 declined 16.47 points or -0.72% to 2,272.89

Canada Market Closings:

  • TSX Composite advanced 32.29 points or 0.17% to 18,492.5
  • TSX 60 advanced 2.32 points or 0.21% to 1,097.46

Brazil Market Closing:

  • Bovespa advanced 128.89 points or 0.11% to 119,428.72

ENERGY:

The oil markets had a mixed day today:

  • Crude Oil increased 0.25 USD/BBL or 0.42% to 59.7200
  • Brent decreased 0.18 USD/BBL or -0.28% to 63.1200
  • Natural gas decreased 0.02 USD/MMBtu or -0.65% to 3.0440
  • Gasoline decreased 0.0226 USD/GAL or -1.27% to 1.7587
  • Heating oil decreased 0.0154 USD/GAL or -0.84% to 1.8078
  • Top commodity gainers: Wheat (2.00%), Coffee (3.01%), Sugar (1.40%) and Lean Hogs (16.66%)
  • Top commodity losers: Palm Oil (-4.90%), Coal (-1.89%), Silver (-1.47%), and Platinum (-1.94%)

The above data was collected around 12:46 EST on Tuesday.

BONDS:

Japan 0.08%(+1bp), US 2’s 0.12%(+0.010%), US 10’s 1.29%(+9bps); US 30’s 2.00%(+0.08%), Bunds -0.39% (+3bp), France -0.16% (-1bp), Italy 0.59% (+6bp), Turkey 12.61% (+0bp), Greece 0.77% (+0bp), Portugal 0.21% (+5bp); Spain 0.31% (+10bp) and UK Gilts 0.62% (+5bp).

  • US 3-Month Bill Auction increased from 0.035% to 0.040%
  • US 6-Month Bill Auction increased from 0.050% to 0.060%
  • Spanish 3-Month Letras Aucion increased from -0.580% to -0.558%
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