Last week, the major central banks made great moves, the Federal Reserve's taper speed doubled, and the expansion is expected to end at the end of the first quarter. The Bank of England unexpectedly raised interest rates, but kept the asset purchase plan unchanged. The European Central Bank said it would not consider raising interest rates this year. Last week, the three major indexes of U.S. stocks all fell significantly, among which the NASDAQ index fell the most, as high as 2.95%, the S & P 500 fell 1.94% and the NASDAQ fell 1.48%. European stock markets were also weak, with FTSE 100 closing down 0.30%, France closing down 1.12% and Germany down 0.67%. Asian stock markets performed similarly, with the Nikkei closing down 1.79%, South Korea closing down 1.20%, and only the Hang Seng Index closing up 0.38%. Emerging markets also showed weakness. Russia fell by 0.98%, Brazil fell by 0.52%, and India index fell by 3.02%.
The ten-year US bond yield continued to fall from 1.48% to 1.40%, and the pressure above us long-term bonds was more obvious; German bond yields rose or fell little, while Japanese ten-year bond yields fell to 0.04%. The term spread of US bonds narrowed by 6 bps to 0.76%.
The US dollar index basically maintained a slight rise and finally closed at 96.565. The Australian dollar and the euro depreciated against the US dollar, with the Australian dollar down 0.08%, the euro slightly down 0.39%, the yen down 0.12% against the US dollar and the RMB down 0.5% against the US dollar O9%, the pound rose 0.21%. The Fed's interest rate hike is expected to heat up, but the European Central Bank said it would not follow, and the dollar maintained a strong operation.
In terms of precious metals, the US CPI continued to reach a new high, making the market's demand to fight inflation rise. Gold continued to rise, with a weekly increase of 0.85%. Silver rebounded and rose, closing up 0.78%, to close at US $22.4/oz, returning to US $22. LME copper maintained a volatile trend, slightly closing down 0.4% to close at US $9467. US crude oil fell again after a sharp rise, down 1.13%, and finally closed at US $70.86. The overall commodity performance was strong, the market's concerns about the new mutant virus were basically digested, and the crude oil remained strong.
