0.

0
1.0
2.0
3.0
4.0
REFERENCE RATES
Jun 16 Jun 17 Jun 18 Jun 19 Jun 20 Wkly Chg
PSI 20 7 194,60 7 202,49 7 163,59 7 196,42 7 098,68 -1,93%
STOXX 50 3 261,42 3 275,33 3 279,20 3 314,80 3 302,36 0,59%
FTSE 100 6 754,64 6 766,77 6 778,56 6 808,11 6 825,20 0,70%
DAX 9 883,98 9 920,32 9 930,33 10 004,00 9 987,24 0,75%
CAC 40 4 510,05 4 536,07 4 530,37 4 563,04 4 541,34 -0,04%
NIKKEI 225 14 933,29 14 975,97 15 115,80 15 361,16 15 349,42 1,67%
HANG SENG 23 300,67 23 203,59 23 181,72 23 167,73 23 194,06 -0,54%
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I NDEXES PERFORMANCE

.
Jun 16 Jun 17 Jun 18 Jun 19 Jun 20 Wkly Chg
EUR/USD 1,358 1,355 1,359 1,361 1,360 0,44%
EUR/CHF 1,218 1,218 1,218 1,217 1,217 -0,13%
EUR/GBP 0,800 0,799 0,800 0,799 0,799 0,14%
EUR/JPY 138,310 138,440 138,500 138,720 138,840 0,48%
EUR/YUAN 8,453 8,435 8,454 8,478 8,464 0,67%
AUD/JPY 95,690 95,410 95,800 95,790 95,810 -0,14%
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FEP Finance Club; Banco de Portugal; BPI
Jun 16 Jun 17 Jun 18 Jun 19 Jun 20
Euribor 1M 0,126% 0,119% 0,113% 0,109% 0,108%
Euribor 3M 0,223% 0,217% 0,216% 0,212% 0,212%
Euribor 6M 0,316% 0,312% 0,309% 0,306% 0,306%
Euribor 12M 0,496% 0,491% 0,490% 0,489% 0,489%
Eonia 0,027% 0,030% 0,015% 0,010% -
FEP Finance Club; Investing.com
MARKET RESEARCH
Jun 16 Jun 17 Jun 18 Jun 19 Jun 20
Portugal 6M 0,181% 0,200% 0,220% 0,228% 0,222%
Portugal 5Y 2,281% 2,324% 2,348% 2,272% 2,272%
Portugal 10Y 3,420% 3,467% 3,531% 3,492% 3,530%
Spain 10Y 2,659% 2,709% 2,754% 2,707% 2,739%
France 10Y 1,725% 1,774% 1,740% 1,670% 1,689%
Italy 10Y 2,770% 2,823% 2,846% 2,789% 2,843%
Germany 10Y 1,354% 1,404% 1,378% 1,330% 1,349%
UK 10Y 2,755% 2,780% 2,741% 2,742% 2,771%
June 16
th
June 20
th



CURRENCI ES







BOND YI ELDS
Moodys removed rating of junk from PT
PSI-20 continued its negative trend, by falling almost
2%, with the migratory balance closing in negative
territory in 2013. On the business front, Esprito Santo
family, which has controlled its namesake bank for
most of the lenders 94-year history, has lose its grip
on management after the second rights offering in two
years. Additionally, Moody's raised on two levels the
credit rating of PT, from a level considered "junk", to
match the operator Oi. Also, Mota-Engil issued senior
bonds worth 25 million dollars, with maturity of 2018
and an annual coupon of 4.375%. Finally, the capital
increases that BES and BPI concluded last week may
pressure BCP to proceed with a capital injection.

German Government issued 10-Year Bunds
European Stocks closed positive this week, with
STOXX-50 closing up by 0.59%. In the Euro Zone, CPI
(YoY) remained constant at 0.5%, following
expectations. On the other hand, U.K. CPI (YoY)
decreased to 1.5%, lower than the expected 1.7%. CPI
(MoM) closed on negative territory, -0.1%. Moreover,
Retail Sales (MoM) decreased -0.5%, from an increase
of 1% in the last month. German ZEW Economic
Sentiment also decreased from 33.1 to 29.8, while
German Government issued 10-Year Bund at a yield of
1.39%. Lastly, Euronext NV, the European stock
exchange operator, was untethered from
Intercontinental Exchange Inc. (ICE) through an 845
million euro ($1.2 billion) IPO.

Japanese trade gap increased
Asian stocks fell from a six-year high as materials and
technology companies led the regional benchmark
index lower. China attracted less foreign direct
investment in May (YoY), amid concerns among some
foreign investors about less-favorable operating
conditions in countrys economy. Moreover, China's
average home prices fell in May and price weakness
spread to more major cities, adding to signs of cooling
in the property market. The Japanese trade gap
increased to 908.9 billion in May, as exports fell more
than imports, hurt by weak demand from Asia and the
United States. India's inflation rose to 6.01% in May,
compared to 5.20% in the previous month, due to a
sharp jump in food and fuel prices. In Australia, the
RBA said it was unclear how much the tough federal
budget and expected declines in mining investment will
impact the economy.
FEP Finance Club; Google Finance
SPOTLI GHT


U.K. Inflation Rate (YoY)





























Beatriz Fougo
US TREASURY YI ELDS
US consumer prices presented inflation
Last week, S&P500 rallied 1.38%. The US Consumer
Price Index increased 0.4 percent last month, with
food prices posting their biggest rise since August
2011. On the other hand single-family building permits
continue to slide as many Americans still struggle to
afford new houses. FED Chairwoman Janet Yellen
announced on Wednesday that central bank can hold
short-term interest rates steady until the middle of
next year and then raise them gradually, downplaying
recent strong inflation readings. Also, manufacturing
activity in the Philadelphia-region expanded at a faster
rate than expected in June, easing concerns over the
U.S. economic outlook. Finally, manufacturing index
improved to a reading of 17.8 this month, from May's
reading of 15.4.
Mexican retail sales rose
Mexican retail sales rose in April from March, growing
for the second month in a row after a recent slump,
and pointing toward stronger domestic demand in
Latin America's No. 2 economy. On the other hand,
Argentinian trade balance went to 1,259M vs. 1,292M
forecast, less than expected last month. Lastly, Brazils
current level of productivity growth, as indicated by
McKinsey Global Institute, have weaken to 1.2%
annual growth rate in per capita income through 2030,
which will do little to boost their living standards.
Oil extended gains on Iraq insurgency
Commodity markets were generally higher for a third
week with the energy sector being a small loser during
the past week. This is primarily due to weakness in
natural gas as investors priced in a bearish supply
report into trading, while weather forecasts calling for
a break in a heat wave also pushed down prices.
Besides, oil prices remain supported by the tense
situation in Iraq. On the metals front, it was registered
major gains due to FEDs decision to maintain interest
rates low and also to the tensions in Middle East.
Industrial metals also recovered with copper heading
as Chinese demand remains robust and US
manufacturing data continues to show a promising
development. Finally, in what concerns softs, sugar
grew as market players continued to assess the
outlook for Brazilian supplies.
FEP Finance Club; investing.com
Jun 16 Jun 17 Jun 18 Jun 19 Jun 20 Wkly Chg
S&P 500 1 884,66 1 867,72 1 956,98 1 959,48 1 962,87 1,38%
DJIA 16 781,01 16 808,49 16 906,62 16 921,46 16 947,08 1,02%
NQ 100 3 779,93 3 781,32 3 804,61 3 800,80 3 802,64 0,72%
S&P Lac 40 3 817,78 3 767,45 3 842,70 3 834,21 3 827,46 -0,21%
COMMODI TI ES

Jun 16 Jun 17 Jun 18 Jun 19 Jun 20 Wkly Chg
USD/JPY 101,880 102,180 101,910 101,920 102,080 0,09%
USD/YUAN 6,227 6,227 6,231 6,229 6,225 0,11%
AUD/USD 0,939 0,934 0,940 0,940 0,939 -0,13%
GBP/USD 1,698 1,696 1,700 1,704 1,702 0,28%
USD/CHF 0,897 0,899 0,896 0,894 0,895 -0,56%
USD/CAD 1,085 1,086 1,084 1,082 1,076 -0,91%
Page 2/2

SPOTLI GHT

-4,39%
2,09%
0,62%
1,34% Corn 5,29% Sugar
3,34%
6,10%
2,97%
Crude Oil WTI
Natural Gas
Crude Oil Brent Copper
Silver
Gold
CURRENCI ES


I NDEXES PERFORMANCE
Jun 16 Jun 17 Jun 18 Jun 19 Jun 20
US 3M 0,030% 0,038% 0,023% 0,018% 0,018%
US 1Y 0,101% 0,096% 0,091% 0,086% 0,081%
US 10 Y 2,597% 2,653% 2,590% 2,621% 2,608%
US 30 Y 3,395% 3,443% 3,404% 3,466% 3,434%
U.S. Core CPI (MoM)
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Financial Markets | fepfinanceclub@gmail.com|www.facebook.com/FEPFinanceClub
Pedro Santos Joo Fernandes
FEP Finance Club; Investing.com
Pratik Ashok Ana Reis Jorge Rodrigues
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