Spanish 10-year national bond yield peaked back breaking 6% first time in 3 months, reaching 6.07%. Premium required by investors to provide financing for Spain exceeds price demanded from Germany by 4.25 percentage points. According to Nick Stamenkovic, RIA Capital in Edinburgh, economist, it seems investors are changing their direction towards Spain.
USD
In October retail sales in US increased by 0.5% or 0.2 percentage points more than predicted. The main contribution to growth came from demand for motor vehicles and iPhones. In electronics industry purchases experienced most rapid growth since 2009. According to Millan Mulraine, TD Securities senior strategist in New York, an increase in retail sales is indicating that consumers do not expect economy to fall in recession.
GBP
According to data released, UK inflation in October eased more than expected reaching 5% or 0.1% percentage point below forecast. Mervyn King, Governor of Bank of England said that inflation is likely to keep slowing down in upcoming months, however, its pace and extent is hard to predict. King pointed out that Bank of England purchases bonds for a second month in a row to stimulate recovery and is ready to respond to any changes in economy associated with inflation.
JPY
Japan decided to join US-Pacific free trade negotiations, and this decision was highly welcomed by US President Barack Obama. He said on a speech that this partnership would deepen economic bonds between the two countries and improve the overall cooperation within the region.
CHF
Official SNB exchange rate for EUR/CHF is at CHF 1.2398 today; 3-month LIBOR CHF remains at 0.05% (within target range of 0.00-0.25). Yields for 10-year Swiss Confederation bonds declined to 0.90% today. SMI stock index has gained 0.01% since opening bell, and is currently fluctuating around 5664 points.