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Financial Markets Close

09/06/2012 18:41:00 By Peter Milosheff, viewed 993 times.
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ECB President Mario Draghi said policy makers agreed to an unlimited bond purchase program in order to control interest rates and fight speculation of currency breakup.  The program, called Outright Monetary Transactions, targets government bonds with maturities between 1-3 years or that length in residual maturity. Purchases would be sterilized.

ECB to leave benchmark rate unchanged at 0.75%.

US initial jobless claims fell 12,000 last week to 365,000.

Equities:
DJIA: 13,292 (+1.9%)  Highest level since December 2007
S&P500: 1,432 (+2.0%)  Highest level since January 2008
Nasdaq: 3,136 (+2.2%)
EuroStoxx: +3.4%
Nikkei: +0.01%
Hang Seng: +0.34%

Commodities:
WTI Crude: 94.63 (-0.65%)
Nat Gas: -1.79%
Copper: +0.70%
Corn: +0.98%

FX:
EURUSD: 1.2634 (+0.02%)
DXY Dollar Index: 81.1 (-0.15%)

Rates:
U.S. 10y: 2.80% (+5bp)
German 10y: 1.56% (+8bp)
Spanish 10y: 5.99% (-38bp)
Italian 10y: 5.25% (-25bp)

 

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Peter Mirabella, PhD

is recently retired from the New York City Department of Education, where he taught elementary school for nearly 9 years. He completed the New York City Teaching Fellows Program in 2004. Prior to becoming a teacher, he was a public affairs speechwriter for over 20 years for such organizations as The New York Stock Exchange, KPMG Peat Marwick, Goldman Sachs, and the New York State Comptrollers Office. He has a Ph.D. in political science from the New School University and a M.A. Degree in education from Lehman College. Dr. Mirabella currently is writing a book about his experience as a New York City school teacher.