Euclid Investment Advisory Blog

Review & Analysis at Close June 13, 2022

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Equities

US Equities, All equity indices gapped down 3.5% to 4.7% at open today on fears Fed at its June 15 meeting will make drastic rate moves as inflation hits forty-year high.

At open, the VIX gapped up, closing at 34.2.

By today's metrics, Monday was a capitulation day: the NYSE down volume 95.4%, declining issues 90%, New Lows 99.8% and for the NASDAQ Composite: down volume 83%, declining issues 82.4%, New Lows 97%. All sectors fell today, including Energy, down 5.22%.

 

Bonds: US Treasury Yields

The 10yr US Treasury yield gapped up 6.65% to 3.366. The 2 yr. US Treasury yield gapped up 11.11% to 3.40. The 2-10 year yield curve flattened, and its spread shrank to 0.03.

 

Currencies
Currencies vs. US Dollar: The Australian Dollar, the Euro, the British Pound, and Japanese Yen all weakened vs. the US Dollar. The US Dollar gapped up 0.76% to 104.95.

Gold weakened, falling 2.64%.

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