[Market Commentary] U.S. 10-year Treasury yield falls below 1.5%, May U.S. CPI up 5% year over year
Contributed on Friday, June 11, 2021⇒ The shelf-life of this article is until June 13, 13:00.
■ The biggest concern in financial markets is inflation in the West and the East
■ The biggest concern in the crypto asset industry is regulation between the U.S. and China (regulatory amendments regarding El Salvador making BTC legal tender)
Major U.S. stock indices finished higher. Nasdaq-100 rose 1.05% from the previous day, and the Philadelphia Semiconductor Index rose 1.19%. The gain in the S&P 500 was not dramatic, but it was hitting new highs. U.S. May consumer price index rose 5% year over year, the largest increase since August 2008. However, this includes base effects from the much lower level a year earlier.
Europe was mixed, U.S. 10-year Treasury yields continued to fall, dropping below 1.5% to 1.44%. Gold rebounded and rose near $1,900. Germany's DAX moved slightly negative (−0.06% from the previous day) but aims to return to a high price range.
[Source] Trading View U.S. 10-year yield daily
The fear gauge VIX declined to 16.10 points. NY crude oil moved above the $70 level. The currency market saw the pound slightly soft on Wednesday but staged a modest rebound. The natural gas market remained firm. In charts, it appears to reach highs in a 3–4 month cycle.
[Source] Trading View Natural Gas daily
The crypto market overall was soft on a 24-hour basis. Bitcoin’s decline was the most limited.
【Trading-worthy stocks】
DAX
NY crude oil
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