Market Briefing: Global Markets

Market Briefing:
Global Markets
Yardeni Research, Inc.
October 26, 2016
Dr. Edward Yardeni
516-972-7683
[email protected]
Mali Quintana
480-664-1333
[email protected]
Please visit our sites at
www.yardeni.com
blog.yardeni.com
thinking outside the box
Table Of Contents
Table Of Contents
US Stock Indexes
MSCI Indexes
Stock Markets: USA
Stock Markets: Americas
Stock Markets: Europe
Stock Markets: Asia
Stock Markets: Eastern Europe, Middle East, Africa
US$ Forex Rates: Europe
US$ Forex Rates: Asia
US$ Forex Rates: Americas
Trade-Weighted Dollar
10-Year Government Yields
Commodity Indexes
Commodity Prices: Energy
Commodity Prices: Basic Materials
Commodity Prices: Precious Metals
Commodity Prices: Agriculture
October 26, 2016 / Market Briefing: Global Markets
1
2-5
6
7
8-9
10-11
12
13
14
15
16
17
18
19
20
21
22
Yardeni Research, Inc.
www.yardeni.com
US Stock Indexes
Figure 1.
2200
2200
S&P 500 INDEX
10/26
2000
2000
1800
1800
1600
1600
1400
1400
1200
1200
1000
1000
800
800
yardeni.com
600
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
600
2017
200-day moving average
Source: Standard & Poor’s Corporation.
Figure 2.
19500
19500
DOW JONES INDUSTRIALS AVERAGE
18600
10/26
18600
17700
17700
16800
16800
15900
15900
15000
15000
14100
14100
13200
13200
12300
12300
11400
11400
10500
10500
9600
9600
8700
8700
7800
7800
6900
6900
yardeni.com
6000
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
6000
2017
200-day moving average
Source: The Wall Street Journal.
Page 1 / October 26, 2016 / Market Briefing: Global Markets
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MSCI Indexes
Figure 3.
1900
1800
1700
1600
1500
1400
1300
1200
1100
1000
900
800
700
600
500
SHARE PRICE INDEXES
(US dollars)
10/26
World
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
1900
1800
1700
1600
1500
1400
1300
1200
1100
1000
900
800
700
600
500
2017
2400
2400
2200
2200
2000
2000
Europe
1800
1800
1600
1600
10/26
1400
1400
1200
1200
1000
1000
800
800
2006
2007
2008
2600
2400
2200
2009
2010
2011
2012
2013
2014
2015
2016
2017
2600
2400
2200
EAFE*
2000
2000
1800
1800
10/26
1600
1600
1400
1400
1200
1200
1000
1000
yardeni.com
800
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
800
2017
200-day moving average
* The following countries are included: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain,
Sweden, Switzerland, United Kingdom, Israel, Australia, New Zealand, Singapore, Hong Kong, and Japan.
Source: Morgan Stanley Capital International.
Page 2 / October 26, 2016 / Market Briefing: Global Markets
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MSCI Indexes
Figure 4.
2100
1900
2100
SHARE PRICE INDEXES
(US dollars)
1900
World
1700
10/26
US
1500
1700
1500
1300
1300
1100
1100
900
900
700
700
500
500
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2500
2500
2300
2300
2100
2100
World
EAFE*
1900
1900
10/26
1700
1700
1500
1500
1300
1300
1100
1100
900
900
700
700
500
500
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2000
2000
1800
10/26
1800
1600
1600
1400
1400
1200
1200
1000
1000
800
800
World
600
600
Emerging Markets
400
400
200
200
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
*Europe, Austrailia, and Far East.
Source: Morgan Stanley Capital International.
Page 3 / October 26, 2016 / Market Briefing: Global Markets
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MSCI Indexes
Figure 5.
4000
4000
SHARE PRICE INDEXES
(US dollars)
World
Japan
3000
3000
2000
2000
10/26
1000
1000
0
0
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
1900
1900
World
1700
10/26
1700
United Kingdom
1500
1500
1300
1300
1100
1100
900
900
700
700
500
500
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2000
300
1800
10/26
250
1600
200
1400
1200
150
World
1000
100
800
EMU
600
50
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Source: Morgan Stanley Capital International.
Page 4 / October 26, 2016 / Market Briefing: Global Markets
Yardeni Research, Inc.
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MSCI Indexes
Figure 6.
1600
1400
1600
SHARE PRICE INDEXES
(ratio scale, US dollars)
1400
1200
1200
1000
1000
10/26
800
800
Emerging Markets
600
600
400
400
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
700
650
600
550
500
450
2017
10/26
700
650
600
550
500
450
400
400
350
350
300
300
250
250
Emerging Markets:
Asia
200
200
150
150
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
6500
6500
5500
5500
4500
4500
3500
3500
Emerging Markets:
Latin America
2500
10/26
yardeni.com
1500
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2500
1500
2017
200-day moving average
Source: Morgan Stanley Capital International.
Page 5 / October 26, 2016 / Market Briefing: Global Markets
Yardeni Research, Inc.
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Stock Markets: USA
Figure 7.
19100
DOW JONES INDUSTRIALS
10/26
NASDAQ
10/26
17100
15100
13100
11100
9100
7100
5100
06
2300
2100
07
08
09
10
11
12
13
14
15
16
S&P 500
17
10/26
06
07
08
09
10
11
12
13
14
15
16
RUSSELL 2000
17
10/25
1900
1700
1500
1300
1100
900
700
500
06
24000
22000
07
08
09
10
11
12
13
14
15
16
WILSHIRE 5000
17
10/25
06
07
08
09
10
11
12
13
14
15
16
10/26
18000
16000
14000
12000
10000
8000
6000
06
12000
07
08
09
10
11
12
13
14
15
16
17
NEW YORK STOCK EXCHANGE
06
07
08
09
10
11
12
13
14
15
16
675
625
575
525
475
425
375
325
275
225
175
125
17
300
S&P 500 UTILITIES
11000
1325
1250
1175
1100
1025
950
875
800
725
650
575
500
425
350
275
17
S&P 500 TRANSPORTATION
20000
5600
5200
4800
4400
4000
3600
3200
2800
2400
2000
1600
1200
800
10/26
10/26
10000
9000
250
200
8000
150
7000
6000
100
5000
yardeni.com
4000
06
07
08
09
10
11
12
13
14
15
16
17
06
07
08
09
10
11
12
13
14
15
16
50
17
200-day moving average
Source: Reuters America, Inc and Standard and Poor’s Corporation.
Page 6 / October 26, 2016 / Market Briefing: Global Markets
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Stock Markets: Americas
Figure 8.
2500
UNITED STATES MSCI
5000
ARGENTINA MSCI
(all indexes in US dollars)
4000
10/26
2000
10/26
3000
1500
2000
1000
1000
500
0
06
2500
2300
07
08
09
10
11
12
13
14
15
16
17
CANADA MSCI
06
07
08
09
10
11
12
13
14
15
16
17
3000
CHILE MSCI
2100
1900
2000
1700
10/26
1500
10/26
1300
1000
1100
900
700
500
0
06
8000
07
08
09
10
11
12
13
14
15
16
17
MEXICO MSCI
06
07
08
09
10
11
12
13
14
15
16
17
2000
PERU MSCI
6000
10/26
10/26
4000
1000
2000
yardeni.com
0
06
5000
07
08
09
10
11
12
13
14
15
16
17
06
07
08
09
10
11
12
13
14
15
16
0
17
200-day moving average
Source:
Morgan
Stanley Capital International and Haver Analytics.
BRAZIL
MSCI
4000
3000
2000
10/26
1000
0
06
07
08
09
10
11
12
13
14
15
16
17
200-day moving average
Source: Reuters America, Inc and Standard and Poor’s Corporation.
Page 7 / October 26, 2016 / Market Briefing: Global Markets
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Stock Markets: Europe
Figure 9.
2600
2400
2200
EUROPE MSCI
800
IRELAND MSCI
(all indexes in US dollars)
700
600
2000
500
1800
400
1600
10/26
1400
300
1200
10/26
1000
100
800
600
0
06
2500
200
07
08
09
10
11
12
13
14
15
16
17
FRANCE MSCI
06
07
08
09
10
11
12
13
14
15
16
17
900
ITALY MSCI
2000
700
10/26
1500
500
1000
300
10/26
500
100
06
2800
2600
2400
2200
2000
1800
1600
1400
1200
1000
800
600
400
08
09
10
11
12
13
14
15
16
17
GERMANY MSCI
06
07
08
09
10
11
12
13
14
15
16
17
3500
NETHERLANDS MSCI
3000
10/26
10/26
2500
2000
1500
1000
500
06
1500
07
07
08
09
10
11
12
13
14
15
16
17
GREECE MSCI
06
07
08
09
10
11
12
13
14
15
16
17
1000
SPAIN MSCI
800
1000
600
500
10/26
0
06
07
08
09
10
11
12
13
14
15
16
10/26
17
yardeni.com
06
07
08
400
200
09
10
11
12
13
14
15
16
17
200-day moving average.
Source: Morgan Stanley Capital International and Haver Analytics.
Page 8 / October 26, 2016 / Market Briefing: Global Markets
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Stock Markets: Europe
Figure 10.
10000
10000
SWEDEN MSCI
(all indexes in US dollars)
8000
8000
10/26
6000
6000
4000
4000
2000
2000
2006
6000
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
6000
SWITZERLAND MSCI
5000
5000
10/26
4000
4000
3000
3000
2000
2000
1000
1000
2006
2000
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2000
UNITED KINGDOM MSCI STOCK PRICE INDEX
1500
1500
10/26
1000
yardeni.com
500
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
1000
500
2017
200-day moving average.
Source: Morgan Stanley Capital International and Haver Analytics.
Page 9 / October 26, 2016 / Market Briefing: Global Markets
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Stock Markets: Asia
Figure 11.
1400
1200
AUSTRALIA MSCI STOCK PRICE INDEX
120
CHINA MSCI
(all indexes in US dollars)
100
1000
80
10/26
800
10/26
60
600
40
400
20
200
0
06
4000
07
08
09
10
11
12
13
14
15
16
17
06
JAPAN MSCI
07
08
09
10
11
12
13
14
15
16
17
12000
HONG KONG MSCI
10/26
3500
3000
10/26
10000
8000
2500
6000
2000
4000
1500
1000
2000
06
600
07
08
09
10
11
12
13
14
15
16
17
06
SOUTH KOREA MSCI
07
08
09
10
11
12
13
14
15
16
17
350
TAIWAN MSCI
10/26
300
10/26
400
250
200
200
150
yardeni.com
0
06
07
08
09
10
11
12
13
14
15
16
17
06
07
08
09
10
11
12
13
14
15
16
100
17
700
SINGAPORE MSCI
600
500
10/26
400
300
200
100
06
07
08
09
10
11
12
13
14
15
16
17
200-day moving average
Source: Morgan Stanley Capital International and Haver Analytics.
Page 10 / October 26, 2016 / Market Briefing: Global Markets
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Stock Markets: Asia
Figure 12.
1200
INDONESIA MSCI
700
THE PHILIPPINES MSCI
(US$)
600
1000
10/26
500
10/26
800
400
600
300
400
200
200
100
0
0
06
600
07
08
09
10
11
12
13
14
15
16
17
MALAYSIA MSCI
06
07
08
09
10
11
12
13
14
15
16
17
800
INDIA MSCI
500
600
10/26
400
10/26
400
300
200
200
100
0
06
500
07
08
09
10
11
12
13
14
15
16
17
THAILAND MSCI
06
07
08
09
10
11
12
13
14
15
16
17
250
PAKISTAN MSCI
400
200
10/26
300
150
10/26
200
100
100
50
yardeni.com
0
06
07
08
09
10
11
12
13
14
15
16
17
06
07
08
09
10
11
12
13
14
15
16
0
17
200-day moving average
Source: Morgan Stanley Capital International and Haver Analytics.
Page 11 / October 26, 2016 / Market Briefing: Global Markets
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Stock Markets: Eastern Europe, Middle East, Africa
Figure 13.
2000
RUSSIA MSCI
400
ISRAEL MSCI
(US$)
1500
300
10/26
1000
10/26
500
100
0
0
06
2000
07
08
09
10
11
12
13
14
15
16
17
POLAND MSCI
06
07
08
09
10
11
12
13
14
15
16
17
800
TURKEY MSCI
1500
600
1000
10/26
10/26
500
400
200
0
0
06
1500
200
07
08
09
10
11
12
13
14
15
16
17
HUNGARY MSCI
06
07
08
09
10
11
12
13
14
15
16
17
1500
EGYPT MSCI
1000
1000
10/26
10/26
500
500
yardeni.com
0
06
1100
1000
900
800
700
600
500
400
300
200
100
0
07
08
09
10
11
12
13
14
15
16
17
CZECH REPUBLIC MSCI
06
07
08
09
10
11
12
13
14
15
16
0
17
700
SOUTH AFRICA MSCI
600
10/26
500
400
300
10/26
200
100
06
07
08
09
10
11
12
13
14
15
16
17
06
07
08
09
10
11
12
13
14
15
16
17
200-day moving average
Source: Morgan Stanley Capital International and Haver Analytics.
Page 12 / October 26, 2016 / Market Briefing: Global Markets
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US$ Forex Rates: Europe
Figure 14.
1.7
1.6
1.7
EUROPE
1.6
($/Euro)
1.5
1.5
1.4
1.4
1.3
1.3
1.2
1.2
10/26
1.1
1.1
1.0
1.0
.9
.9
.8
.8
2006
2.3
2.1
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2.3
UNITED KINGDOM
($/Pound)
2.1
1.9
1.9
1.7
1.7
1.5
1.5
1.3
10/26
1.1
1.1
2006
4.5
5.5
1.3
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
4.5
SWEDEN
(Krona/$)
5.5
6.5
6.5
7.5
7.5
8.5
10/26
8.5
9.5
9.5
10.5
10.5
11.5
11.5
2006
.4
.6
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
.4
SWITZERLAND
(Swiss Franc/$)
.6
.8
.8
10/26
1.0
1.2
1.0
1.2
yardeni.com
1.4
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
1.4
2017
200-day moving average
Source: Haver Analytics.
Page 13 / October 26, 2016 / Market Briefing: Global Markets
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US$ Forex Rates: Asia
Figure 15.
60
JAPAN
5.6
CHINA
(Yen/$)
(Yuan/$)
6.0
80
6.4
10/21
100
10/26
6.8
7.2
7.6
120
8.0
140
8.4
06
.6
.8
07
08
09
10
11
12
13
14
15
16
17
AUSTRALIA
06
07
08
09
10
11
12
13
14
15
16
17
2.5
MALAYSIA
(inverted scale, A$/US$)
(Ringgit/$)
3.0
1.0
3.5
1.2
10/26
4.0
10/21
1.4
4.5
1.6
1.8
5.0
06
600
800
07
08
09
10
11
12
13
14
15
16
17
SOUTH KOREA
06
07
08
09
10
11
12
13
14
15
16
17
6000
INDONESIA
(Won/$)
(Rupiah/$)
8000
1000
10000
10/21
1200
12000
10/26
1400
14000
1600
16000
06
25
35
07
08
09
10
11
12
13
14
15
16
17
INDIA
06
07
08
09
10
11
12
13
14
15
16
17
25
THAILAND
(Rupee/$, inverted scale)
(Baht/$)
30
45
10/26
35
55
40
65
10/26
yardeni.com
75
06
07
08
09
10
11
12
13
14
15
16
17
06
07
08
09
10
11
12
13
14
15
16
45
17
200-day moving average
Source: Haver Analytics.
Page 14 / October 26, 2016 / Market Briefing: Global Markets
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US$ Forex Rates: Americas
Figure 16.
.8
.9
CANADA
6
MEXICO
(C$/US$)
(Peso/$)
8
1.0
10
1.1
12
1.2
14
1.3
10/26
16
1.4
10/26
1.5
20
1.6
1.7
22
06
.1
.6
18
07
08
09
10
11
12
13
14
15
16
17
BRAZIL
06
07
08
09
10
11
12
13
14
15
16
17
-5
ARGENTINA
(Real/$)
(Peso/$)
0
1.1
1.6
5
2.1
2.6
10
10/26
3.1
3.6
10/26
15
4.1
4.6
20
06
300
350
400
07
08
09
10
11
12
13
14
15
16
17
CHILE
06
07
08
09
10
11
12
13
14
15
16
VENEZUELA
(Peso/$)
17
10/21
(Bolivar Fuerte/$)
450
500
550
600
10/26
650
700
750
800
06
800
1200
07
08
09
10
11
12
13
14
15
16
17
COLOMBIA
06
07
08
09
10
11
12
13
14
15
16
17
2.2
PERU
(Peso/$)
11
10
9
8
7
6
5
4
3
2
1
0
(New Sol/$)
2.4
2.6
1600
2.8
2000
3.0
2400
3.2
2800
10/26
10/26
3200
3.4
3.6
yardeni.com
3600
06
07
08
09
10
11
12
13
14
15
16
17
06
07
08
09
10
11
12
13
14
15
16
3.8
17
200-day moving average
Source: Morgan Stanley Capital International.
Page 15 / October 26, 2016 / Market Briefing: Global Markets
Yardeni Research, Inc.
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Trade-Weighted Dollar
Figure 17.
135
130
135
JP MORGAN TRADE-WEIGHTED DOLLAR INDEX*
(2000=100, daily)
130
125
125
JP Morgan Nominal
Broad Effective Exchange Rate (120.15)
10/26
120
120
115
115
110
110
105
105
100
100
95
95
90
90
yardeni.com
85
95
96
97
98
99
00
01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
85
18
* Argentina, Australia, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Czech Rep., Denmark, Ecuador, Egypt, Hong Kong, Hungary, India, Indonesia,
Israel, Japan, Korea, Kuwait, Malaysia, Mexico, Morocco, New Zealand, Nigeria, Norway, Pakistan, Panama, Peru, Philippines, Poland, Romania, Russia,
Saudi Arabia, Singapore, South Africa, Sweden, Switzerland, Taiwan, Thailand, Turkey, Ukraine, UK, Uruguay, US, Venezuela, Vietnam, & Euro Area.
Source: JP Morgan.
Figure 18.
160
155
150
160
FED’S TRADE-WEIGHTED DOLLAR INDEXES
155
(daily)
150
Major*
(3/73=100)
145
140
145
140
Broad**
(1/97=100)
135
130
135
130
125
125
10/21
120
120
115
115
110
110
105
105
100
100
95
95
10/21
90
90
85
85
80
80
75
75
70
70
65
60
65
yardeni.com
73
75
77
60
79
81
83
85
87
89
91
93
95
97
99
01
03
05
07
09
11
13
15
17
19
* Major index is a weighted average of the foreign exchange rates of the US dollar against the Euro Area, Australia, Canada, Japan, Sweden, Switzerland,
United Kingdom,
** Broad index is a weighted average of the foreign exchange rates of the US dollar against the Euro Area, Argentina, Australia, Brazil, Canada, Chile, China,
Colombia, Hong Kong, India, Indonesia, Ireland, Israel, Japan, Korea, Malaysia, Mexico, Philippines, Russia, Singapore, Spain, Saudi Arabia,
Sweden, Switzerland, Taiwan, Thailand, United Kingdom, and Venezuela. Source: Board of Governors of the Federal Reserve System.
Page 16 / October 26, 2016 / Market Briefing: Global Markets
Yardeni Research, Inc.
www.yardeni.com
10-Year Government Yields
Figure 19.
6.0
UNITED STATES
6.0
GERMANY
5.5
5.5
5.0
5.0
4.5
4.5
4.0
4.0
3.5
3.0
3.5
2.5
3.0
2.0
2.5
1.5
1.0
2.0
10/26
.5
1.5
10/25
1.0
-.5
06
7.5
.0
07
08
09
10
11
12
13
14
15
16
17
CANADA
06
07
08
09
10
11
12
13
14
15
16
17
6.5
SWEDEN
6.0
6.5
5.5
5.0
5.5
4.5
4.0
4.5
3.5
3.0
3.5
2.5
2.0
2.5
1.5
1.0
1.5
.5
10/25
10/25
.5
-.5
06
6.5
6.0
.0
07
08
09
10
11
12
13
14
15
16
17
UNITED KINGDOM
06
07
08
09
10
11
12
13
14
15
16
17
2.5
JAPAN
5.5
2.0
5.0
4.5
1.5
4.0
3.5
1.0
3.0
2.5
.5
2.0
1.5
10/25
10/26
1.0
yardeni.com
.5
06
07
08
09
10
11
12
13
14
15
16
17
06
07
08
.0
-.5
09
10
11
12
13
14
15
16
17
200 day moving average
Source: MMS International and Haver Analytics.
Page 17 / October 26, 2016 / Market Briefing: Global Markets
Yardeni Research, Inc.
www.yardeni.com
Commodity Indexes
Figure 20.
525
525
CRB FUTURES PRICE INDEX
(1967=100)
475
475
425
425
375
375
325
325
275
275
225
225
10/26
175
125
175
yardeni.com
95
96
97
125
98
99
00
01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
200-day moving average
Source: Haver Analytics.
Figure 21.
1150
1050
1150
CRB RAW INDUSTRIALS SPOT PRICE INDEXES
(1967=100)
1050
950
950
850
850
750
750
10/25
Raw Industrials (460.8)
650
650
Metals Component (701.6)
550
550
10/25
450
450
350
350
250
250
150
yardeni.com
95
96
97
150
98
99
00
01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
Source: Haver Analytics.
Page 18 / October 26, 2016 / Market Briefing: Global Markets
Yardeni Research, Inc.
www.yardeni.com
Commodity Prices: Energy
Figure 22.
190
170
WEST TEXAS INTERMEDIATE
CRUDE OIL PRICE
150
(dollars per barrel)
HEATING OIL FUTURES PRICE*
(dollar per gallon)
130
110
90
70
10/25
10/25
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
50
30
10
160
140
BRENT CRUDE OIL FUTURES PRICE*
19
NATURAL GAS FUTURES PRICE*
(dollars per barrel)
5.0
4.6
4.2
3.8
3.4
3.0
2.6
2.2
1.8
1.4
1.0
.6
17
(dollar per MMBTU)
15
120
13
100
11
9
80
7
60
5
10/25
40
10/25
20
1
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
* Nearby futures price.
4.5
3.9
3
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
GASOLINE FUTURES PRICE*
(dollars per gallon)
3.3
2.7
2.1
10/25
1.5
.9
yardeni.com
.3
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
200-day moving average
* Nearby contract.
Source: Haver Analytics.
Page 19 / October 26, 2016 / Market Briefing: Global Markets
Yardeni Research, Inc.
www.yardeni.com
Commodity Prices: Basic Materials
Figure 23.
1300
1100
CRB SPOT PRICE INDEX: METALS
(daily, 1967=100)
***** Chart Not Available *****
900
700
Includes copper scrap,
lead scrap, steel scrap,
tin, and zinc
500
10/25
Task: MMSTEEL
300
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
500
COPPER FUTURES PRICE*
KEEP Error: Working storage empty
10-26-2016 - 00:51:42
(dollars per pound)
400
***** Chart Not Available *****
300
200
10/25
100
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Task: MMCRBTIN
KEEP Error: Working storage empty
10-26-2016 - 00:51:32
***** Chart Not Available *****
***** Chart Not Available *****
Task: MMCRBLEAD
Task: MMCRBZINC
KEEP Error: Working storage empty
KEEP Error: Working storage empty
10-26-2016 - 00:51:30
10-26-2016 - 00:51:33
Page 20 / October 26, 2016 / Market Briefing: Global Markets
Yardeni Research, Inc.
www.yardeni.com
Commodity Prices: Precious Metals
Figure 24.
1975
1800
1625
1975
GOLD FUTURES PRICE*
1800
(dollars per troy ounce)
1625
1450
1450
10/25
1275
1275
1100
1100
925
925
750
750
575
575
400
400
225
225
2006
52
48
44
40
36
32
28
24
20
16
12
8
4
2400
2200
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
SILVER FUTURES PRICE*
(dollars per troy ounce)
10/25
2006
2600
2007
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
52
48
44
40
36
32
28
24
20
16
12
8
4
2017
2600
PLATINUM FUTURES PRICE*
2400
(dollars per troy ounce)
2200
2000
2000
1800
1800
1600
1600
1400
1400
1200
1200
1000
10/25
800
800
600
600
2006
1000
800
1000
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
1000
PALLADIUM SPOT PRICE
($/troy oz)
800
10/25
600
600
400
400
200
200
0
yardeni.com
2006
0
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
200-day moving average
* Nearby contract.
Source: Haver Analytics.
Page 21 / October 26, 2016 / Market Briefing: Global Markets
Yardeni Research, Inc.
www.yardeni.com
Commodity Prices: Agriculture
Figure 25.
850
750
850
CORN FUTURES PRICE*
(cents per bushel)
750
650
650
550
550
450
450
10/25
350
250
250
150
150
2006
1950
1750
350
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
1950
SOYBEANS FUTURES PRICE*
(cents per bushel)
1750
1550
1550
1350
1350
1150
1150
10/25
950
950
750
750
550
550
350
350
2006
1400
1300
1200
1100
1000
900
800
700
600
500
400
300
200
200
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
WHEAT FUTURES PRICE*
(cents per bushel)
10/25
2006
250
2007
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
1400
1300
1200
1100
1000
900
800
700
600
500
400
300
200
2017
250
COTTON FUTURES PRICE*
($/pound)
200
150
150
100
100
10/25
50
0
50
yardeni.com
2006
0
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
200-day moving average
* Nearby contract, closing price.
Source: Haver Analytics.
Page 22 / October 26, 2016 / Market Briefing: Global Markets
Yardeni Research, Inc.
www.yardeni.com
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