Euclid Investment Advisory Blog

Review & Analysis at Close June 6, 2022

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Equities

US Equities, one-week changes: S&P 500 -0.84%, NASDAQ 100 -0.61%, Russell 2000 +0.12%, NASDAQ Composite -0.23%.

Foreign equity markets: China +5.84%, Emerging Markets +1.49% and Europe -.38%. VIX closed at 25.07, down 2.53%.

  • Equity Style: One week change: Only Small caps had gains, 0.25%. Dividend, LC Value indices lagged, down 1 to 2 %.

  • Sectors: One week change: Energy +0.99%, Industrial +0.50%, Consumer Discretionary +0.50%, Materials +0.15%, Communication Services -0.50%, Utilities -0.92%, Tech -1.03%, Consumer Staples -1.53%, Financials -1.69%, Real Estate -2.48%, Health Care -3.12

Bonds: US Treasury Yields

The 2-year rose to 2.73%, up from recent low of 2.46. Rates of rise of Yields currently show signs of easing.

The 10-year Yield closed at 3.038, reversing up from recent low of 2.709. The rise in 10-year may make second attempt at target, 3.250.

After turning positive April 5th, the 2-10 year Yield Curve remained unchanged at 0.35. Expect near-term spread to increase to 0.40.

Fixed Income

One week price change: The 7-10 year US Treasury Note ETF fell 2.38%, High Yield Corp Bond ETF fell 2.29%, Investment Grade Bond ETF fell 2.28%. Bond prices fall when Yields rise. YTD price declines: 7-10-year Treasury ETF -11.00%, High Yield Corp Bond ETF -8.57%, and Investment Grade Bond ETF fell -14.28%.

 

Currencies
Currencies vs. US Dollar: The Australian Dollar, British Pound, Yen and Euro all strengthened slightly, but still in downtrends. The Euro closed at 1.069, recent low 1.034.

US Dollar vs. basket of currencies: The US$, pulling back from a parabolic uptrend, closed at 102.452, down from recent high 105.06. Upward momentum peaking. Gold fell 0.60% for the week, closing at $1,718.

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