The U.S. stock markets started off okay, but they tripped around noon, fell, and then couldn’t get back up. I just read an article that theorizes that Treasuries rose today on “speculation the Federal Reserve is unlikely to slow the pace of stimulus cuts.” Yeah, right. More likely seeking safe harbor.
European bonds rallied as Ukraine reached an agreement on early elections. The S&P 500, the Dow, the NASDAQ, the Russell and the Wilshire indices were all down. Meanwhile, the rest of the world was largely up. The MSCI All-Country World Index added 0.3 percent, approaching a six-year high reached on Dec. 31. Gold advanced while Crude Oil retreated.
Dallas Fed President Richard Fisher said it’s hard to argue that further expansion of central bank balance sheet has had
“much efficacy.” Fisher, an opponent of added stimulus who votes on policy this year, said he’ll remain a strong advocate of tapering the purchase of bond buying. St. Louis Fed President James Bullard, who doesn’t vote on the Federal Open Market Committee this year, said the central bank is on target to continue scaling back stimulus. Fed Chair Janet Yellen last week said the economy has strengthened enough to withstand continued cuts to monetary
stimulus, adding that only a notable change in the outlook for the economy would prompt the central bank to slow the pace of tapering. DON’T BET AGAINST THE FED.
Ticker | Last | Change | % Chg Today | % Chg 1Year | YTD Tot Ret | |
U.S. STOCK MARKET | | | | | | |
Dow Jones Industrial Average | INDU Index | 16103.30 | -29.930 | -0.186 | 16.013 | -2.457 |
S&P 500 Index | SPX Index | 1836.25 | -3.530 | -0.192 | 22.219 | -0.339 |
NASDAQ 100 Index | NDX Index | 3662.60 | -9.327 | -0.254 | 35.076 | 2.214 |
NASDAQ Composite Index | CCMP Index | 4263.41 | -4.135 | -0.097 | 36.146 | 2.280 |
Russell 3000 Index | RAY Index | 1106.30 | -1.458 | -0.132 | 23.769 | 0.097 |
Russell 1000 Index (Large Cap) | RIY Index | 1028.27 | -1.668 | -0.162 | 23.360 | 0.092 |
Russell 2000 Index (Small Cap) | RTY Index | 1164.63 | 2.517 | 0.217 | 28.632 | 0.193 |
Russell Mid Cap Index | RMC Index | 1524.75 | 0.780 | 0.051 | 26.983 | 2.377 |
Wilshire 5000 Total Market | W5000 Index | 19689.26 | -20.860 | -0.106 | 24.188 | -0.085 |
FOREIGN STOCKS | | | | | | |
FTSE ALL-WORLD INDEX | | 267.40 | 0.810 | 0.304 | 15.483 | -0.343 |
FTSE ALL-WORLD EX U.S. INDEX | | 278.26 | 2.110 | 0.764 | 9.345 | -0.498 |
FTSE ALL-WORLD DEVELOPED IDX | | 259.46 | 0.680 | 0.263 | 18.637 | 0.029 |
FTSE ALL-WORLD DEVL EX U.S. | | 262.42 | 1.980 | 0.760 | 14.230 | 0.248 |
FTSE ALL-WORLD DEVL EUROPE | | 261.80 | 1.630 | 0.627 | 21.898 | 2.185 |
FTSE ALL-WORLD DEVL ASIA-PAC | | 238.26 | 3.410 | 1.452 | 5.556 | -2.795 |
FTSE ALL-WORLD EMERGING MKTS | | 470.68 | 3.640 | 0.779 | -10.086 | -4.126 |
EURO STOXX 600 INDEX | EUROPE | 336.09 | 1.310 | 0.391 | 17.984 | 2.639 |
EURO STOXX TOTAL MARKET | EUROPE | 329.46 | 1.320 | 0.402 | 18.404 | 2.597 |
FTSE 100 INDEX | UK | 6838.06 | 25.070 | 0.368 | 8.687 | 1.836 |
CAC 40 INDEX | FRANCE | 4381.06 | 25.570 | 0.587 | 20.863 | 2.005 |
DAX INDEX | GERMANY | 9656.95 | 38.100 | 0.396 | 27.340 | 1.097 |
NIKKEI 225 INDEX | JAPAN | 14865.67 | 416.490 | 2.882 | 30.562 | -8.745 |
HANG SENG INDEX | HONG KONG | 22568.24 | 174.160 | 0.778 | -0.940 | -3.113 |
TEL AVIV 100 INDEX | ISRAEL | 2113.69 | -25.089 | -1.173 | -8.663 | -0.104 |
SHANGHAI COMP INDEX | CHINA | 2113.69 | -25.089 | -1.173 | -8.663 | -0.104 |
RUSSIAN RTS INDEX | RUSSIA | 1315.54 | 12.390 | 0.951 | -15.059 | -15.059 |
TREASURIES | % Yield | | | | | |
3 Month Treasury | 0.0406 | | -0.010 | -22.222 | | |
6 Month Treasury | 0.0811 | | 0.000 | 0.000 | | |
2 Year Treasury | 0.3142 | 100.12 | 0.008 | 0.008 | | |
5 Year Treasury | 1.5313 | 99.85 | 0.031 | 0.031 | | |
10 Year Treasury | 2.7301 | 100.17 | 0.180 | 0.180 | | |
30 Year Treasury | 3.6934 | 98.77 | 0.531 | 0.541 | | |
ENERGY | | | | | | |
Crude Oil, Brent Index | Brent Crude | 109.77 | -0.530 | -0.481 | 3.781 | |
Crude Oil, Louisiana Lt. Sweet | LA Lt Sweet | 108.40 | 0.330 | 0.305 | -5.890 | |
Natural Gas, Henry Hub Index | Nat Gas | 6.19 | 0.130 | 2.144 | 58.698 | |
PRECIOUS METALS | | | | | | |
Spot Gold $/oz | GOLD | 1323.18 | 0.240 | 0.018 | -16.061 | |
Spot Silver $/oz | SILVER | 21.81 | -0.017 | -0.076 | -23.934 | |
CURRENCIES | | | | | | |
Euro | EUR Curncy | 0.73 | -0.001 | -0.151 | -3.996 | |
Japanese Yen | JPY Curncy | 102.49 | 0.210 | 0.205 | -9.171 | |
British Pound | GBP Curncy | 0.60 | 0.001 | 0.150 | -8.238 | |
Swiss Franc | CHF Curncy | 0.89 | -0.002 | -0.214 | 4.890 | |
Canadian Dollar | CAD Curncy | 1.11 | 0.003 | 0.270 | -8.474 | |
Chinese Renminbi | CNY Curncy | 6.09 | 0.007 | 0.122 | 2.456 | |
| | | | | | |
| Last | Chg Today | % Chg Today | 3 Mo Tot Ret | 6 Mo Tot Ret | YTD Tot Ret |
S&P 500 INDEX | 1836.250 | -3.53 | -0.192 | 2.799 | 12.971 | -0.339 |
S&P 500 CONSUMER DISCRETION | 516.500 | 0.88 | 0.171 | 1.592 | 13.452 | -2.460 |
S&P 500 CONSUMER STAPLES | 426.310 | -0.91 | -0.213 | -2.820 | 5.607 | -3.461 |
S&P 500 ENERGY | 629.810 | -4.41 | -0.695 | -1.307 | 9.150 | -2.870 |
S&P 500 FINANCIALS | 288.720 | 0.09 | 0.031 | 0.809 | 9.284 | -1.764 |
S&P 500 HEALTH CARE | 679.400 | -1.68 | -0.247 | 8.295 | 20.201 | 6.062 |
S&P 500 INDUSTRIALS | 441.600 | -0.02 | -0.005 | 2.915 | 16.246 | -2.053 |
S&P 500 INFO TECHNOLOGY | 589.900 | -1.99 | -0.336 | 7.005 | 16.453 | 1.099 |
S&P 500 MATERIALS | 291.530 | -0.33 | -0.113 | 4.596 | 16.026 | 0.212 |
S&P 500 TELECOM SERVICES | 148.190 | -2.09 | -1.391 | -4.754 | 1.877 | -3.701 |
S&P 500 UTILITIES | 205.380 | 0.31 | 0.151 | 6.034 | 11.611 | 6.862 |
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Life is good! The alternative? Not so much.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
225-342-0013
jbroussard@treasury.state.la.us
