10Y Yield Tumbles To 13-Month Lows, Gold Jumps Over $1300: Surveying This Morning's Carnage

Tyler Durden's picture

At 2.43%, 10Y Treasury yields are back at June 2013 levels with the entire complex pressing low-yields of the day (down 5-6bps on the week). The USD is strengthening (now up 0.45% on the week) to new 11-month highs. Equity markets are reeling in US and Europe. All major US indices are now down almost 1% from last week's payrolls data, and the Dow and Russell 2000 remain notably red year-to-date. In Europe, it's getting ugly fast, the broad European stock market is now down for 2014 with the periphery suffering the most. For 2014, Portugal is worst but Germany's DAX is -3.5% YTD. European bonds are also hurting with Italy, Portugal, and Spain spreads up 12-22bps, with German 2Y yields at 1bps - their lowest in 13 months. Gold is up on the week, jumping above $1300 this morning as copper slides.

 

 

US Treasury yields are tumbling...

 

US equities are pressing lows post payrolls.

 

European stocks this week...

 

and since the start of 2014 - Portugal worst, followed by DAX...

 

European peripheral bonds this week...

 

Where's the money going?

 

Charts: Bloomberg