{"id":57982,"date":"2021-05-22T07:00:48","date_gmt":"2021-05-22T12:00:48","guid":{"rendered":"https:\/\/olduvai.ca\/?p=57982"},"modified":"2021-05-22T07:00:48","modified_gmt":"2021-05-22T12:00:48","slug":"weekly-commentary-just-the-facts-may-21-2021","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=57982","title":{"rendered":"Weekly Commentary: Just the Facts – May 21, 2021"},"content":{"rendered":"

Weekly Commentary: Just the Facts – May 21, 2021<\/a><\/h3>\n
\n
For the Week:<\/div>\n<\/div>\n
\nThe S&P500 slipped 0.4% (up 10.6% y-t-d), and the Dow declined 0.5% (up 11.8%). The Utilities added 0.4% (up 4.7%). The Banks fell 1.0% (up 35.1%), and the Broker\/Dealers declined 1.2% (up 22.6%). The Transports sank 2.8% (up 23.7%). The S&P 400 Midcaps dropped 1.2% (up 16.6%), and the small cap Russell 2000 dipped 0.4% (up 12.2%). The Nasdaq100 was little changed (up 4.1%). The Semiconductors rallied 2.4% (up 9.2%). The Biotechs gained 0.5% (down 2.5%). With bullion surging $38, the HUI gold index jumped 4.4% (up 6.9%).<\/p>\n

Three-month Treasury bill rates ended the week at negative 0.0025%. Two-year government yields added a basis point to 0.15% (up 3bps y-t-d). Five-year T-note yields increased one basis point to 0.82% (up 46bps). Ten-year Treasury yields declined a basis point to 1.62% (up 71bps). Long bond yields declined two bps to 2.32% (up 67bps). Benchmark Fannie Mae MBS yields were unchanged at 1.86% (up 52bps).<\/p>\n

Greek 10-year yields sank nine bps to 0.97% (up 35bps y-t-d). Ten-year Portuguese yields declined four bps to 0.56% (up 53bps). Italian 10-year yields fell four bps to 1.03% (up 49bps). Spain’s 10-year yields declined three bps to 0.555% (up 51bps). German bund yields were unchanged at negative 0.13% (up 44bps). French yields dipped two bps to 0.25% (up 58bps). The French to German 10-year bond spread narrowed about two to 38 bps. U.K. 10-year gilt yields fell three bps to 0.83% (up 63bps). U.K.’s FTSE equities index declined 0.4% (up 8.6% y-t-d).<\/p>\n

Japan’s Nikkei Equities Index rallied 0.8% (up 3.2% y-t-d). Japanese 10-year “JGB” yields dipped a basis point to 0.08% (up 6bps y-t-d). France’s CAC40 was unchanged (up 15.0%). The German DAX equities index was little changed (up 12.5%). Spain’s IBEX 35 equities index gained 0.6% (up 14.0%). Italy’s FTSE MIB index rose 0.8% (up 12.3%). EM equities were mostly higher. Brazil’s Bovespa index added 0.6% (up 3.0%), and Mexico’s Bolsa advanced 1.1% (up 13.0%). South Korea’s Kospi index was little changed (up 9.8%). India’s Sensex equities index surged 3.7% (up 5.8%). China’s Shanghai Exchange was about unchanged (up 0.4%). Turkey’s Borsa Istanbul National 100 index gained 0.7% (down 1.7%). Russia’s MICEX equities index increased 0.6% (up 11.3%).
\n\u2026click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Weekly Commentary: Just the Facts – May 21, 2021 For the Week: The S&P500 slipped 0.4% (up 10.6% y-t-d), and the Dow declined 0.5% (up 11.8%). The Utilities added 0.4% (up 4.7%). The Banks fell 1.0% (up 35.1%), and the Broker\/Dealers declined 1.2% (up 22.6%). The Transports sank 2.8% (up 23.7%). The S&P 400 Midcaps […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[7756,16861,1849],"class_list":["post-57982","post","type-post","status-publish","format-standard","hentry","category-economics","tag-credit-bubble-bulletin","tag-doug-noland","tag-financial-markets"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57982"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57982\/revisions"}],"predecessor-version":[{"id":57983,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57982\/revisions\/57983"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}