Interest Rates Rise as Stock Fall

Monday, stocks fell slightly in Europe but rose 1.7% in Asia and 0.3% in the U.S. on 6B shares traded. Precious metals miners advanced 2%.

Tuesday, stocks gained slightly in Asia and were unchanged in Europe. Markets were closed in the U.S. for Independence Day.

Wednesday, stocks fell 0.8% in Asia, 0.7% in Europe, and 0.5% in the U.S. on 11B shares traded. The 10-Year U.S. Treasury bond yield rose 2% to end at 3.94 . Precious metals and miners lost about 3%. The FOMC released minutes that indicated more interest rate hikes are coming.

Thursday, stocks fell 1.7% in Asia, 2.3% in Europe, and 1.2% in the U.S. on 11B shares traded. The VIX moved up 9% to close at 15.44. The 10-Year U.S. Treasury bond yield rose 2% to end at 4.04 . Precious metals declined 1% and their miners fell about 3%. The Dow Jones Industrials ended below the 34,000 benchmark.

Friday, stocks lost 0.9% in Asia but ended unchanged in Europe and up slightly in the U.S. on 10B shares traded. Precious metals and their miners gained 1%. Finally, the Federal Reserve balance sheet declined 43B to 8.30T. After four months, the balance sheet finally eclipsed the low set in March.

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