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Pension Plan Problems

Daily Recap

Today is being described as a day of "consolidation," likely the first of several, following the Dow's streak of new highs. As such, the tone on world equity markets was indecisive, with a slight downward bias. In the US, weak energy markets were the main culprit, as crude oil lost another 0.7% and our beloved XLE doubled that amount on the downside.

In Asia, the six largest markets were all down between 0.16% and 0.74%, yet the Asia Dow finished UP 0.01%. Note to self: Look into that index and find out what the hell its problem is. Equities were mostly higher in Europe, with Germany the main exception; the STOXX 600 gained 0.08%. In the Americas, three of the largest exchanges (excluding the US) were lower, and one was higher (Mexico).

Fixed income prices were almost universally higher. The US 10-year note was up almost half a point, its yield down to 2.221%. The ... Log in or subscribe to continue reading.

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