Financial Markets Close

Posted on September 10, 2012, 7:38 pm
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Consumer borrowing in the U.S. unexpectedly decreased in July by $3.28 billion (estimated $9.2 billion increase) for the first time in nearly a year, after an $11.8 billion jump the previous month. The drop in credit-card borrowing coincides with a slowdown in hiring and rise in consumer pessimism. Revolving credit, which includes credit cards, decreased by $4.82 billion, a third decline in four months through July. This has not happened since early 2011, and reflects the slowdown in hiring and decline in factory activity growth.

Equities:
DJIA: 13,254 (-0.39%)
S&P500: 1,429 (-0.61%)
Nasdaq: 3,104 (-1.03%)
EuroStoxx: -0.40%
Nikkei: -0.03%
Hang Seng: 0.13%

U.S. stock indexes fell for the first time in four days as Greece struggled to qualify for aid. Intel lost 3.8% on Nomura stating that earnings may fall, and International Paper falls 4.2% on Deutrshe Bank cutting its rating to hold from buy, citing price increases as unlikely.

Microsoft to increase its quarterly dividend by 15% as its cash position grows.

Credit:
iBoxx IG: 119.92 (-0.0%)
iBoxx HY: 92.39 (-0.2%)

States Street Corp is beating its larger rival Blackrock, with the SDPR Barclays HY Bond ETF returning 9.6% this year, 1.2% more than BlackRock’s iShares iBoxx HY Corporate Bond Fund. 15.23% of State Street’s ETF carry CCC grades, 2.73% more than BlackRock’s ETF. State Street stands to lose more value if credit quality deteriorates or treasuries rise.

Commodities:
WTI Crude: 96.54 (+0.12%)
Nat Gas: +5.89%
Copper: +2.62%  Rises on speculation policy makers will work to support growth
Corn: -2.03%

FX:
EURUSD: 1.276 (-0.01%)
DXY Dollar Index: 80.4 (+0.21%)

Rates:
U.S. 10y: 2.81% (-1bp)
German 10y: 1.55% (+3bp)
Spanish 10y: 5.67% (+7bp)
Italian 10y: 5.17% (+13bp)

 

Jonas Bronck is the pseudonym under which we publish and manage the content and operations of The Bronx Daily.™ / Bronx.com - the largest daily news publication in the borough of "the" Bronx with over 1.5 million annual readers. Publishing under the alias Jonas Bronck is our humble way of paying tribute to the person, whose name lives on in the name of our beloved borough.