Daily Financial Markets Chart Wrap

September 11, 2015
By Bryce Coward, CFA in Knowledge Leaders, Markets


  • Equities were again mixed on the day with Asia and the North America up and Europe down a bit
    • US stocks finished up .5% as a small mid-day selloff was erased in the afternoon with stocks finishing on the highs
    • Health Care, Tech and Consumer Discretionary led stocks higher on the day with Energy, Telecom and Materials the only sectors to finish in the red
    • Energy’s initial bounce off of the 8/25 low is fading fast and has now been overtaken by both Tech and Consumer Discretionary
      • As such, it’s looking more and more like the strength in Energy off of the 8/25 low was driven by short covering
    • EMs were basically flat on the day in aggregate with Tech and Telecom leading the way with Energy and Materials the obvious laggards
    • EM Knowledge Leaders picked up another few basis points of outperformance while DM Knowledge Leaders finished in line with world stocks
    • Over the last year Developed World and Emerging Markets Knowledge Leaders have bettered DM and EM stocks by more than 7% each
    • Over the last year, DM stocks are down 6.4% and EM stocks are down 25%
    • The VIX sold off a modest 3.4% and remains above the important 20 level
  • Government benchmark bond yields were moderately lower on the day with the US 10 year dropping 4bps and the 30 year dropping 3bps
  • The euro and yen were both stronger with the euro rising about 40bps vs the dollar on expectations of a later date for the first Fed hike
  • In commodities, WTI was the laggard, dropping 2.5% even as copper was up .5% on the day

New in the report today:

  • Larger sector and country charts
  • VIX performance

Gavekal Capital Daily Financial Markets Chart Wrap

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