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European indices close lower. Yields move higher.

European indices are closing lower as yields move higher. Markets are spooked as a result of the election results which shifted more to the right.

In the benchmark 10 year sector:

Germany 2.676%, +5.2 basis pointsFrance 3.239%, +13.4 basis pointsUK 4.329%, +7.5 basis pointsSpain 3.493%, +9.6 basis pointsItaly 4.08%, was 13.6 basis points

Looking at the major indices in Europe:

German DAX, -0.37%France CAC, -1.35%UK FTSE 100 -0.21%Spain’s Ibex, -0.42%Italy’s FTSE MIB, -0.34%

As London/European traders head for the exits, broader US indices are positive. The S&P did trade above its all-time high closing level, but has backed off a bit:

Dow Industrial Average was -42 points or -0.11% at 38755.00S&P index +5.15 points or 0.10% at 5351.90NASDAQ index was 47.05 points or 0.27% at 17180.50

The small-cap Russell 2000 is trading down -2.41 points or -0.12% at 2024.13.Apple shares are down -$1.61 or -0.82% at $195.29 %,

In the US debt market, yields are higher:

2-year yield 4.874. +0.4 basis points5-year yield 4.473%, +2.1 basis points10-year 4.461%, +3.3 basis points30-year 4.592%, +4.5 basis points.

In other markets:

Crude oil is trading up $1.73 or 2.28% at $77.26.Gold is trading up $12.73 or 0.56% at $2306.30.Silver is trading up $0.52 or 1.81% at $29.67.Bitcoin is trading back above 70,000 at $70,116Ethereum is trading at $3700 up from a low of $3644.60. The high price reached $3721.30

This article was written by Greg Michalowski at www.forexlive.com.

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