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European major indices close down sharply on the day

The major European  indices  are ending lower on the day. For the week, the German Dax is near unchanged while the other indices are mostly lower:

On the day:

  • German DAX, -2.38%
  • France’s CAC, -2.0%.
  • UK’s FTSE 100 -1.3%
  • Spain’s Ibex -1.96%
  • Italy’s FTSE MIB -2.0%

For the trading week:

  • German DAX, unchanged
  • France’s CAC, -0.1%
  • UK’s FTSE 100, -1.1%
  • Spain’s Ibex -0.66%
  • Italy’s FTSE MIB -2.3%

In the European debt market, the yields are mostly higher on the day with the exception being the UK 10 year yield. UK retail sales was much weaker than expected:

Benchmark European 10 year yields are mostly higher

For the week, the benchmark 10 year yields in Europe all reached new cycle highs:

  • German moved from 0.841% to 0.966% currently. The high yield reached 0.982% this week
  • France moved from 1.342% to 1.421% currently. The high yield reached 1.436% this week
  • UK moved from 1.904% to 1.971%. The high yield this week reached 2.028% this week
  • Italy moved from 2.523% to 2.671%. The high yield reached 2.6849% this week
  • Spain moved from 1.793% to 1.932%. The high yield reached 1.959% this week

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