It's The Economy Stupid: Copper

Copper futures fell for the third straight quarter, the longest slump since 2001, on signs that

demand will ebb in Europe and China, the world’s biggest consumer of industrial metals.

 

This month, (THIS MONTH!) copper prices have tumbled 25 percent.

 

Copper prices are telling us something, signaling a recession maybe, but exactly what they are telling us I am not yet quite sure of.

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

 

Markets down again...

Can’t take the heat, get out of the kitchen.

 

Description	Ticker	Last	CHANGE	% Chg Today	Pct Chg 1Yr
STOCK MARKETS
Dow Jones Industrial Average	INDU Index	10913.38	-240.6000	-2.1571	1.1617
S&P 500 Index	SPX Index	1131.42	-28.9800	-2.4974	-0.8570
NASDAQ Composite Index	CCMP Index	2415.4	-65.3600	-2.6347	1.9750
Russell 3000 Index	RAY Index	665.97	-17.4000	-2.5462	-1.3012
Russell 2000 Index (Small)	RTY Index	644.16	-18.6400	-2.8123	-4.7298
S&P 400 Mid Cap Index	MID Index	781.26	-22.9000	-2.8477	-2.5982
S&P 600 Small Cap Index	SML Index	356.09	-9.3700	-2.5639	-0.7224
TREASURIES	% Yield
2 Year Treasury	0.2420	100.2382813	0.0273	0.0273
5 Year Treasury	0.9047	102.8125	0.2578	0.2514
10 Year Treasury	1.8463	111.21875	0.8516	0.7716
30 Year Treasury	2.8811	129.640625	3.5781	2.8384
ENERGY
Crude Oil, Brent Index	Brent	102.34	-1.6100	-1.5488	18.4868
Crude Oil, WTI Cushing Index	West TX Intr	78.74	-3.4000	-4.1393	-8.2838
Natural Gas, Henry Hub Index	Nat Gas	3.67	-0.0770	-2.0550	-23.1414
PRECIOUS METALS
Spot Gold $/oz	GOLD	1620.93	6.5300	0.4045	23.8927
Spot Silver $/oz	SILVER	29.81	-0.8238	-2.6892	37.0187
CURRENCIES
Euro	EUR Curncy	1.339	-0.0207	-1.5224	-1.7824
Japanese Yen	JPY Curncy	77.07	0.2300	0.2993	8.3690
British Pound	GBP Curncy	1.559	-0.0036	-0.2304	-0.8017
Swiss Franc	CHF Curncy	0.907	0.0099	1.1036	8.3241
Canadian Dollar	CAD Curncy	1.0479	0.0120	1.1584	-1.7656
Chinese Yuan	CNY Curncy	6.3833	-0.0151	-0.2360	4.8047

 

It's The Economy Stupid: Jobs

Initital Jobless Claims actual number 391K, economist forecast 420K, previous period revised to 428K

Continuing Jobless Claims actual number 3729K, economist forecast 3730K, previous period revised to 3749K

 

Okay, the Initial Jobless Claims number of 391 thousand is the lowest number since the week of April Fools Day.

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street, Turn Left to get to North Blvd

 

It's The Economy Stupid

Hokey Smokes Bullwinkle! (Actual language changed to protect those with innocent ears)

 

 

Description	Ticker	Last	CHANGE	% Chg Today	Pct Chg 1Yr
STOCK MARKETS
Dow Jones Industrial Average	INDU Index	10683.61	-441.2300	-3.9662	-0.4936
S&P 500 Index	SPX Index	1123.31	-43.4500	-3.7240	-0.9107
NASDAQ Composite Index	CCMP Index	2444.13	-94.0600	-3.7058	4.8001
Russell 3000 Index	RAY Index	662.54	-25.9500	-3.7691	-0.7663
Russell 2000 Index (Small)	RTY Index	642.3	-22.2800	-3.3525	-2.1044
S&P 400 Mid Cap Index	MID Index	782	-32.2700	-3.9631	-0.0268
S&P 600 Small Cap Index	SML Index	353.14	-9.8700	-2.7189	1.0868
TREASURIES	% Yield
2 Year Treasury	0.2081	100.3085938	-0.0117	-0.0117
5 Year Treasury	0.7720	103.46875	0.2031	0.1967
10 Year Treasury	1.6728	112.890625	1.1719	1.0490
30 Year Treasury	2.7768	132.15625	4.6563	3.6520
ENERGY
Crude Oil, Brent Index	Brent	105.5	-4.8600	-4.4038	27.7872
Crude Oil, WTI Cushing Index	West TX Intr	80.28	-5.6400	-6.5643	-1.9847
Natural Gas, Henry Hub Index	Nat Gas	3.697	-0.0330	-0.8847	-19.9350
PRECIOUS METALS
Spot Gold $/oz	GOLD	1737.03	-45.3200	-2.5427	34.5452
Spot Silver $/oz	SILVER	36.3475	-3.3375	-8.4100	71.9622
CURRENCIES
Euro	EUR Curncy	1.3455	-0.0117	-0.8621	0.3506
Japanese Yen	JPY Curncy	76.42	-0.0400	-0.0523	10.5298
British Pound	GBP Curncy	1.5357	-0.0142	-0.9162	-1.9535
Swiss Franc	CHF Curncy	0.9075	0.0075	0.8333	8.5894
Canadian Dollar	CAD Curncy	1.0314	0.0232	2.3011	-0.0485
Chinese Yuan	CNY Curncy	6.4	0.0205	0.3213	4.5313

 

 

 

It's The Economy Stupid

It’s UGLY!

 

Description	Ticker	Last	CHANGE	% Chg Today	Pct Chg 1Yr
STOCK MARKETS
Dow Jones Industrial Average	INDU Index	10784.95	-339.8900	-3.0552	0.3122
S&P 500 Index	SPX Index	1130.66	-36.1000	-3.0940	-0.3535
NASDAQ Composite Index	CCMP Index	2462.84	-75.3500	-2.9687	5.3882
Russell 3000 Index	RAY Index	667	-21.4900	-3.1213	-0.2410
Russell 2000 Index (Small)	RTY Index	645.9	-18.6800	-2.8108	-1.7390
S&P 400 Mid Cap Index	MID Index	786.71	-27.5600	-3.3846	0.5136
S&P 600 Small Cap Index	SML Index	352.7	-10.3100	-2.8401	0.8837
TREASURIES	% Yield
2 Year Treasury	0.1933	100.33594	0.0156	0.0156
5 Year Treasury	0.7672	103.47656	0.2109	0.2043
10 Year Treasury	1.7090	112.53125	0.8125	0.7273
30 Year Treasury	2.8476	130.4375	2.9375	2.3039
ENERGY
Crude Oil, Brent Index	Brent	106.15	-4.2100	-3.8148	28.1862
Crude Oil, WTI Cushing Index	West TX Intr	81.25	-4.6700	-5.4353	-1.1932
Natural Gas, Henry Hub Index	Nat Gas	3.7	-0.0300	-0.8043	-19.8267
PRECIOUS METALS
Spot Gold $/oz	GOLD	1723.45	-58.9000	-3.3046	33.4170
Spot Silver $/oz	SILVER	36.5425	-3.1425	-7.9186	72.7069
CURRENCIES
Euro	EUR Curncy	1.3432	-0.0140	-1.0315	0.1790
Japanese Yen	JPY Curncy	76.23	-0.2300	-0.3008	10.8342
British Pound	GBP Curncy	1.5365	-0.0134	-0.8646	-1.9152
Swiss Franc	CHF Curncy	0.9096	0.0096	1.0667	8.5057
Canadian Dollar	CAD Curncy	1.0307	0.0225	2.2317	-0.0679
Chinese Yuan	CNY Curncy	6.398	0.0185	0.2900	4.5639