Soft Landing Optimism Grows

Monday, stocks fell 0.4% in Asia, closed little changed in Europe, and rose 0.5% in the U.S. on 10B shares traded.

Tuesday, stocks jumped 1.7% in Asia and gained 0.5% in Europe but ended little changed in the U.S. on 10B shares traded. Precious metals gained 1% while their miners advanced about twice that amount. IBM closed above its 140 benchmark.

Wednesday, stocks lost 0.6% in Europe but gained slightly in Asia and in the U.S. on 10B shares traded. The VIX fell 5% to close at 13.19. The 10-Year U.S. Treasury bond yield rose 2% to end at 3.85 . Precious metals gained about 1%. The FOMC announced raising the interest rate 0.25% — feeding speculation on stocks achieving a “soft landing.”

Thursday, stocks rose 0.9% in Asia and 1.4% in Europe but fell 0.9% in the U.S. on 12B shares traded. The VIX jumped 9% to end at 14.41. The 10-Year U.S. Treasury bond yield rose 4% to end at 4.01. Precious metals fell 3% and their miners dropped 4%.

Friday, stocks declined slightly in Asia and Europe but advanced 0.6% in the U.S. on 10B shares traded. The VIX fell 7% to close at 13.33. Precious metals and their miners gained 1%. Finally, the Federal Reserve balance sheet declined 32B to 8.24T.

Leave a Reply

Your email address will not be published. Required fields are marked *