market briefing: global markets - home » yardeni … briefing: global markets yardeni research,...

Market Briefing:Global Markets

Yardeni Research, Inc.

May 18, 2018

Dr. Edward Yardeni516-972-7683

[email protected]

Mali Quintana480-664-1333

[email protected]

Please visit our sites atwww.yardeni.comblog.yardeni.com

thinking outside the box

Table Of Contents Table Of ContentsTable Of Contents

May 18, 2018 / Market Briefing: Global Markets www.yardeni.com


US Stock Indexes 1MSCI Indexes 2-5Stock Markets: USA 6Stock Markets: Americas 7Stock Markets: Europe 8-9Stock Markets: Asia 10-11Stock Markets: Eastern Europe, Middle East, Africa 12US$ Forex Rates: Europe 13US$ Forex Rates: Asia 14US$ Forex Rates: Americas 15Trade-Weighted Dollar 1610-Year Government Yields 17Commodity Indexes 18Commodity Prices: Energy 19Commodity Prices: Precious Metals 20Commodity Prices: Agriculture 21

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020600

800

1000

1200

1400

1600

1800

2000

2200

2400

2600

2800

3000

600

800

1000

1200

1400

1600

1800

2000

2200

2400

2600

2800

3000

5/18

S&P 500 INDEX

200-day moving averageSource: Standard & Poor’s Corporation.

yardeni.com

Figure 1.

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20206000690078008700960010500114001230013200141001500015900168001770018600195002040021300222002310024000249002580026700

60006900780087009600

10500114001230013200141001500015900168001770018600195002040021300222002310024000249002580026700

5/18

DOW JONES INDUSTRIALS AVERAGE

200-day moving averageSource: The Wall Street Journal.

yardeni.com

Figure 2.

US Stock Indexes

Page 1 / May 18, 2018 / Market Briefing: Global Markets www.yardeni.com


Figure 3.

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020500

700

900

1100

1300

1500

1700

1900

2100

2300

500

700

900

1100

1300

1500

1700

1900

2100

2300

5/18SHARE PRICE INDEXES(US dollars)

World

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020800

1000

1200

1400

1600

1800

2000

2200

2400

800

1000

1200

1400

1600

1800

2000

2200

2400

5/18Europe

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020800

1000

1200

1400

1600

1800

2000

2200

24002600

800

1000

1200

1400

1600

1800

2000

2200

24002600

5/18EAFE*

200-day moving average

Source: Morgan Stanley Capital International.

* 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.

yardeni.com

MSCI Indexes



Figure 4.

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020500

700

900

1100

1300

1500

1700

1900

2100

2300

2500

2700

2900

500

700

900

1100

1300

1500

1700

1900

2100

2300

2500

2700

2900

5/18

SHARE PRICE INDEXES(US dollars)

World

US

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020500

700

900

1100

1300

1500

1700

1900

2100

2300

2500

500

700

900

1100

1300

1500

1700

1900

2100

2300

2500

5/18WorldEAFE*

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020200

400

600

800

1000

1200

1400

1600

1800

2000

2200

2400

200

400

600

800

1000

1200

1400

1600

1800

2000

2200

2400

5/18

World

Emerging Markets

*Europe, Austrailia, and Far East.Source: Morgan Stanley Capital International.

MSCI Indexes



Figure 5.

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20200

1000

2000

3000

4000

0

1000

2000

3000

4000

5/18

SHARE PRICE INDEXES(US dollars) World

Japan

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020500

700

900

1100

1300

1500

1700

1900

2100

2300

500

700

900

1100

1300

1500

1700

1900

2100

2300

5/18World

United Kingdom

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 202050

100

150

200

250

300

600

800

1000

1200

1400

1600

1800

2000

2200

2400

5/18

World

EMU

Source: Morgan Stanley Capital International.

MSCI Indexes



Figure 6.

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020400

600

800

1000

1200

1400

1600

400

600

800

1000

1200

1400

1600

5/18

SHARE PRICE INDEXES(ratio scale, US dollars)

Emerging Markets

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020150

200

250

300

350

400

450500550600650700

150

200

250

300

350

400

450500550600650700

5/18

Emerging Markets:Asia

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20201500

2500

3500

4500

5500

6500

1500

2500

3500

4500

5500

6500

5/18Emerging Markets:Latin America

Source: Morgan Stanley Capital International.200-day moving average

yardeni.com

MSCI Indexes



Figure 7.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 205100

7100

9100

11100

13100

15100

17100

19100

21100

23100

25100

27100

5/18DOW JONES INDUSTRIALS

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20800

1600

2400

3200

4000

4800

5600

6400

7200

8000

5/18NASDAQ

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20500700900

1100130015001700190021002300250027002900

5/18S&P 500

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20275

450

625

800

975

1150

1325

1500

16755/18RUSSELL 2000

06 07 08 09 10 11 12 13 14 15 16 17 18 19 206000

10000

14000

18000

22000

26000

30000

34000

5/17

WILSHIRE 5000

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20125175225275325375425475525575625675725775825

5/18S&P 500 TRANSPORTATION

06 07 08 09 10 11 12 13 14 15 16 17 18 19 204000

6000

8000

10000

12000

14000

5/18NEW YORK STOCK EXCHANGE

200-day moving averageSource: Reuters America, Inc and Standard and Poor’s Corporation.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 2050

100

150

200

250

300

5/18

S&P 500 UTILITIES

yardeni.com

Stock Markets: USA



Figure 8.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20500

1000

1500

2000

2500

3000

5/18

UNITED STATES MSCI(all indexes in US dollars)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

1000

2000

3000

4000

5000

5/18

ARGENTINA MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20500

700

900

1100

1300

1500

1700

1900

2100

2300

2500

5/18

CANADA MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

1000

2000

3000

5/18

CHILE MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

2000

4000

6000

8000

5/18

MEXICO MSCI

200-day moving averageSource: Morgan Stanley Capital International and Haver Analytics.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

1000

2000

5/18PERU MSCI

yardeni.com

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

1000

2000

3000

4000

5000

5/18

BRAZIL MSCI

200-day moving averageSource: Reuters America, Inc and Standard and Poor’s Corporation.

Stock Markets: Americas



Figure 9.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20600

800

1000

1200

1400

1600

1800

2000

2200

2400

2600

5/18

EUROPE MSCI(all indexes in US dollars)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

100

200

300

400

500

600

700

800

5/18

IRELAND MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20500

1000

1500

2000

2500

5/18

FRANCE MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20100

300

500

700

900

5/18

ITALY MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20400600800

1000120014001600180020002200240026002800

5/18

GERMANY MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

1000

2000

3000

4000

5/18

NETHERLANDS MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

500

1000

1500

5/18

GREECE MSCI

200-day moving average.Source: Morgan Stanley Capital International and Haver Analytics.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20200

400

600

800

1000

5/18

SPAIN MSCI

yardeni.com

Stock Markets: Europe



Figure 10.

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20202000

4000

6000

8000

10000

2000

4000

6000

8000

10000

5/18

SWEDEN MSCI(all indexes in US dollars)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20201000

2000

3000

4000

5000

6000

1000

2000

3000

4000

5000

6000

5/18

SWITZERLAND MSCI

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020500

1000

1500

2000

500

1000

1500

2000

5/18

UNITED KINGDOM MSCI STOCK PRICE INDEX

200-day moving average.Source: Morgan Stanley Capital International and Haver Analytics.

yardeni.com

Stock Markets: Europe



Figure 11.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20200

400

600

800

1000

1200

1400

5/18

AUSTRALIA MSCI STOCK PRICE INDEX(all indexes in US dollars)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

20

40

60

80

100

120

5/18

CHINA MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 201000

2000

3000

4000

5/18

JAPAN MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 202000

4000

6000

8000

10000

12000

14000

5/18HONG KONG MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

200

400

600

5/18SOUTH KOREA MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20100

200

300

400

500

5/18

TAIWAN MSCI

yardeni.com

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20100

200

300

400

500

600

700

5/18

SINGAPORE MSCI


Stock Markets: Asia



Figure 12.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

200

400

600

800

1000

1200

5/18

INDONESIA MSCI(US$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

100

200

300

400

500

600

700

5/18

THE PHILIPPINES MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20100

200

300

400

500

600

5/18

MALAYSIA MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

200

400

600

800

5/18

INDIA MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

100

200

300

400

500

600

5/18

THAILAND MSCI


06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

50

100

150

200

250

5/18

PAKISTAN MSCI

yardeni.com

Stock Markets: Asia



Figure 13.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

500

1000

1500

2000

5/18

RUSSIA MSCI(US$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

100

200

300

400

5/18

ISRAEL MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

500

1000

1500

2000

5/18

POLAND MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20100

300

500

700

900

5/18

TURKEY MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

500

1000

1500

5/18

HUNGARY MSCI

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

500

1000

1500

2000

0

500

1000

1500

2000

5/18

EGYPT MSCI

yardeni.com

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20200

300

400

500

600

700

800

900

1000

1100

5/18

CZECH REPUBLIC MSCI


06 07 08 09 10 11 12 13 14 15 16 17 18 19 20100

200

300

400

500

600

700

5/18

SOUTH AFRICA MSCI

Stock Markets: Eastern Europe, Middle East, Africa



Figure 14.

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020.8

.9

1.0

1.1

1.2

1.3

1.4

1.5

1.6

1.7

.8

.9

1.0

1.1

1.2

1.3

1.4

1.5

1.6

1.7

5/18

EUROPE($/Euro)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20201.1

1.3

1.5

1.7

1.9

2.1

2.3

1.1

1.3

1.5

1.7

1.9

2.1

2.3

5/18

UNITED KINGDOM($/Pound)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 202011.5

10.5

9.5

8.5

7.5

6.5

5.5

4.5

11.5

10.5

9.5

8.5

7.5

6.5

5.5

4.5

5/18

SWEDEN(Krona/$)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20201.4

1.2

1.0

.8

.6

1.4

1.2

1.0

.8

.6

5/18

SWITZERLAND(Swiss Franc/$)

200-day moving averageSource: Haver Analytics.

yardeni.com

US$ Forex Rates: Europe



Figure 15.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20140

120

100

80

60

5/18

JAPAN(Yen/$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 208.4

8.0

7.6

7.2

6.8

6.4

6.0

5.6

5/18

CHINA(Yuan/$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 201.8

1.6

1.4

1.2

1.0

.8

.6

5/18

AUSTRALIA(inverted scale, A$/US$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 205.0

4.5

4.0

3.5

3.0

2.5

5/11

MALAYSIA(Ringgit/$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 201600

1400

1200

1000

800

600

5/11

SOUTH KOREA(Won/$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 2016000

14000

12000

10000

8000

6000

5/18

INDONESIA(Rupiah/$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 2075

65

55

45

35

25

5/18

INDIA(Rupee/$, inverted scale)


06 07 08 09 10 11 12 13 14 15 16 17 18 19 2045

40

35

30

25

5/18

THAILAND(Baht/$)

yardeni.com

US$ Forex Rates: Asia



Figure 16.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 201.7

1.6

1.5

1.4

1.3

1.2

1.1

1.0

.9

.8

5/18

CANADA(C$/US$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 2022

20

18

16

14

12

10

8

6

5/18

MEXICO(Peso/$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 204.6

4.1

3.6

3.1

2.6

2.1

1.6

1.1

.6

.1

5/18

BRAZIL(Real/$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 2025

20

15

10

5

0

-5

5/18

ARGENTINA(Peso/$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20800

750

700

650

600

550

500

450

400

350

300

5/18

CHILE(Peso/$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 200

5000

10000

15000

20000

25000

30000

35000

40000

5/11

VENEZUELA(Bolivar Fuerte/$)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 203600

3200

2800

2400

2000

1600

1200

800

5/18

COLOMBIA(Peso/$)

200-day moving averageSource: Morgan Stanley Capital International.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 203.8

3.6

3.4

3.2

3.0

2.8

2.6

2.4

2.2

5/18

PERU(New Sol/$)

yardeni.com

US$ Forex Rates: Americas



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 2085

90

95

100

105

110

115

120

125

130

135

85

90

95

100

105

110

115

120

125

130

135

5/18

JP MORGAN TRADE-WEIGHTED DOLLAR INDEX*(2000=100, daily)

Trade-WeightedDollar (117.63)

* 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.

yardeni.com

Figure 17.

73 75 77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 07 09 11 13 15 17 19 2160

65

70

75

80

85

90

95

100

105

110

115

120

125

130

135

140

145

150

155

160

60

65

70

75

80

85

90

95

100

105

110

115

120

125

130

135

140

145

150

155

160

5/11

5/11

FED’S TRADE-WEIGHTED DOLLAR INDEXES(daily)

Major*(3/73=100)

Broad**(1/97=100)

* 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.

yardeni.com

Figure 18.

Trade-Weighted Dollar



Figure 19.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 201.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

5.5

6.0

5/18

UNITED STATES

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20-.5

.0

.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

5.5

6.0

5/17

GERMANY

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20.5

1.5

2.5

3.5

4.5

5.5

5/17

CANADA

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20-.5

.0

.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

5/17

SWEDEN

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

5.5

6.0

6.5

5/18

UNITED KINGDOM

200 day moving average Source: MMS International and Haver Analytics.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20-.5

.0

.5

1.0

1.5

2.0

2.5

5/17

JAPAN

yardeni.com

10-Year Government Yields



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20125

175

225

275

325

375

425

475

525

125

175

225

275

325

375

425

475

525

5/18

CRB FUTURES PRICE INDEX(1967=100)


yardeni.com

Figure 20.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20150

250

350

450

550

650

750

850

950

1050

1150

150

250

350

450

550

650

750

850

950

1050

1150

5/17

5/17

CRB RAW INDUSTRIALS SPOT PRICE INDEXES(1967=100)

CRB Raw IndustrialsSpot Price Index (518.1)Metals Component* (952.4)

* Includes scrap copper, lead scrap, steel scrap, tin, and zinc.Source: Haver Analytics.

yardeni.com

Figure 21.

Commodity Indexes



Figure 22.

06 07 08 09 10 11 12 13 14 15 16 17 18 19 2010

30

50

70

90

110

130

150

170

190

5/17

WEST TEXAS INTERMEDIATECRUDE OIL PRICE(dollars per barrel)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20.6

1.0

1.4

1.8

2.2

2.6

3.0

3.4

3.8

4.2

4.6

5.0

5/17

HEATING OIL FUTURES PRICE*(dollar per gallon)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 2020

40

60

80

100

120

140

160

5/17

BRENT CRUDE OIL FUTURES PRICE*(dollars per barrel)

* Nearby futures price.06 07 08 09 10 11 12 13 14 15 16 17 18 19 20

1

3

5

7

9

11

13

15

17

19

5/17

NATURAL GAS FUTURES PRICE*(dollar per MMBTU)

06 07 08 09 10 11 12 13 14 15 16 17 18 19 20.3

.9

1.5

2.1

2.7

3.3

3.9

4.5

5/17

GASOLINE FUTURES PRICE*(dollars per gallon)

* Nearby contract.Source: Haver Analytics.


yardeni.com

Commodity Prices: Energy



Figure 23.

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020400

575

750

925

1100

1275

1450

1625

1800

1975

400

575

750

925

1100

1275

1450

1625

1800

1975

5/17

GOLD FUTURES PRICE*(dollars per troy ounce)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020481216202428323640444852

48

1216202428323640444852

5/17

SILVER FUTURES PRICE*(dollars per troy ounce)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020600

800

1000

1200

1400

1600

1800

2000

2200

2400

2600

600

800

1000

1200

1400

1600

1800

2000

2200

2400

2600

5/17

PLATINUM FUTURES PRICE*(dollars per troy ounce)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20200

200

400

600

800

1000

1200

0

200

400

600

800

1000

1200

5/15

PALLADIUM SPOT PRICE($/troy oz)


Source: Haver Analytics.* Nearby contract.

yardeni.com

Commodity Prices: Precious Metals



Figure 24.

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020150

250

350

450

550

650

750

850

150

250

350

450

550

650

750

850

5/17

CORN FUTURES PRICE*(cents per bushel)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020350

550

750

950

1150

1350

1550

1750

1950

350

550

750

950

1150

1350

1550

1750

1950

5/17

SOYBEANS FUTURES PRICE*(cents per bushel)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 202020030040050060070080090010001100120013001400

200300400500600700800900

10001100120013001400

5/17

WHEAT FUTURES PRICE*(cents per bushel)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20200

50

100

150

200

250

0

50

100

150

200

250

5/18

COTTON FUTURES PRICE*($/pound)


Source: Haver Analytics.* Nearby contract, closing price.

yardeni.com

Commodity Prices: Agriculture



http://blog.yardeni.com

http://blog.yardeni.com

[email protected]

Copyright (c) Yardeni Research, Inc. 2018. All rights reserved. The informationcontained herein has been obtained from sources believed to be reliable, but is notnecessarily complete and its accuracy cannot be guaranteed. No representation orwarranty, express or implied, is made as to the fairness, accuracy, completeness, orcorrectness of the information and opinions contained herein. The views and the otherinformation provided are subject to change without notice. All reports posted onwww.yardeni.com, blog.yardeni.com, and YRI’s Apps for iPads and iPhones are issuedwithout regard to the specific investment objectives, financial situation, or particular needsof any specific recipient and are not to be construed as a solicitation or an offer to buy or sellany securities or related financial instruments. Past performance is not necessarily a guideto future results. Company fundamentals and earnings may be mentioned occasionally, butshould not be construed as a recommendation to buy, sell, or hold the company’s stock.Predictions, forecasts, and estimates for any and all markets should not be construed asrecommendations to buy, sell, or hold any security--including mutual funds, futurescontracts, and exchange traded funds, or any similar instruments.

The text, images, and other materials contained or displayed on any Yardeni Research, Inc.product, service, report, email or website are proprietary to Yardeni Research, Inc. andconstitute valuable intellectual property. No material from any part of www.yardeni.com, blog.yardeni.com, and YRI’s Apps for iPads and iPhones may be downloaded, transmitted,broadcast, transferred, assigned, reproduced or in any other way used or otherwisedisseminated in any form to any person or entity, without the explicit written consent ofYardeni Research, Inc. All unauthorized reproduction or other use of material from YardeniResearch, Inc. shall be deemed willful infringement(s) of this copyright and other proprietaryand intellectual property rights, including but not limited to, rights of privacy. YardeniResearch, Inc. expressly reserves all rights in connection with its intellectual property,including without limitation the right to block the transfer of its products and services and/orto track usage thereof, through electronic tracking technology, and all other lawful means,now known or hereafter devised. Yardeni Research, Inc. reserves the right, without furthernotice, to pursue to the fullest extent allowed by the law any and all criminal and civilremedies for the violation of its rights.

The recipient should check any email and any attachments for the presence of viruses.Yardeni Research, Inc. accepts no liability for any damage caused by any virus transmittedby this company’s emails, website, blog and Apps. Additional information available onrequest.

market briefing: global markets - home » yardeni … briefing: global markets yardeni research,...

Documents