Not as much red this week across the markets as there has been recently, even with chaos swirling as Europe combats a debt crisis, U.S. politicians stall a debt ceiling hike and China feebly attempts to fight inflation. Stocks made a slight comeback, with the S&P 500 posting modest gains of .52% and the Nasdaq surging forward 2.26%. In treasuries, we saw bonds continue to rise, with ten year notes gaining 1.58% and 30 year bonds jumping 1.71%. In currencies, the biggest loser was the Euro as it plunged 1.82%, while the dollar jumped 1.12%. Once again, the Swiss Franc pushed ahead, settling just below an all-time high with gains of 1.42%.
In metals, prices climbed ever higher. Gold and silver were the main beneficiaries of the surge, posting gains of 3.98% and 8.41% respectively, while copper jumped 2.55% to a 3 month high. In energies, natural gas slipped 2.45% while temperatures continued to inch upward across the U.S., while crude and RBOB gasoline moved 1.33% and 4.04% higher. In agriculture, corn lead the charge, up 6.77%, but in softs, it was more of a mixed bag. Cocoa, cotton and Kansas City wheat all fell, with cotton’s 3.34% fall bringing it to a 6+ month low. In the meantime, sugar surged ahead 7.74% to a 5+ month high.
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