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The Closing Bell: Ten-Year Yield Drops Below 2.4%, Hitting Fresh Lows

TedTed
edited March 2019 in Fund Discussions
( The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest update from IBD and Bloomberg Evening Briefing, and will be moved to the top of the Discussion /Board.)

FYI: New worries about the global economy fueled another drop in Treasury yields and weighed down U.S. stocks.

The Dow Jones Industrial Average finished down 32 points, or 0.13%, at 25625 after opening slightly higher and falling as much as 232 points in midday trading. The S&P 500 declined 0.46%. The benchmark equity gauge snapped a two-session losing streak Tuesday and has rebounded more than 11.5% so far this year. The tech-heavy Nasdaq shed 0.63%.

U.S. Treasury yields, which fall as bond prices rise, slipped again, with the 10-year Treasury yield dropping to about 2.37% from 2.418% a day earlier. Tuesday’s close marked its lowest since December 2017.

Stocks slid last week after a measure of the yield curve, the gap between short- and long-term Treasury yields, inverted for the first time in more than a decade.

In the past, the 10-year Treasury yield falling below the 3-month yield has preceded recessions. But major indexes have also often risen for several months following such inversions, another factor muddying the economic backdrop after a stretch of mixed data and lockstep rallies in stocks and bonds.

European stocks edged lower, with the Stoxx Europe 600 falling 0.2%. Volatility in Turkish markets continued ahead of local elections later this week, with the Turkish lira falling against the dollar and the country’s main stock index sliding more than 5%.

Earlier, Hong Kong’s Hang Seng gained 0.6%, while Japan’s Nikkei 225 slid 0.2%.

Only one of the S&P 500 Sectors, Industrials had a positive day. The other ten led by Communication Services were in the red.
Regards
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-03-27/your-evening-briefing

MarketWatch:
https://www.marketwatch.com/story/stock-market-set-to-face-fresh-pressure-as-10-year-treasury-yield-falls-to-236-2019-03-27/print

WSJ:
https://www.wsj.com/articles/global-stocks-pause-as-economic-doubts-persist-11553677005

Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-26/asia-stocks-set-to-rise-as-treasury-rally-eases-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/boeing-apple-lead-stock-market-dow-jones-passes-key-test/

Reuters:
https://www.reuters.com/article/uk-usa-stocks/wall-street-bogged-down-by-growth-worries-falling-yields-idUSKCN1R817V

CNBC:
https://www.cnbc.com/2019/03/27/stock-market-wall-street-in-focus-as-recession-fears-grip-investors.html

U.K.:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-gains-mps-votes-on-brexit-process-eyed-idUKKCN1R80PN

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-hand-back-gains-as-growth-fears-resurface-idUSKCN1R80VY

Asia:
https://www.marketwatch.com/story/asia-pacific-markets-mixed-as-fears-of-global-slowdown-persist-2019-03-26/print

Bonds:
https://www.cnbc.com/2019/03/27/us-bonds-growth-fears-linger-after-yield-curve-inversion.html

Currencies:
https://www.cnbc.com/2019/03/27/forex-market-us-recession-fears-brexit-vote-in-focus.html

Oil:
https://www.cnbc.com/2019/03/27/oil-market-us-inventory-gain-supply-curbs-in-focus.html

Gold
https://www.cnbc.com/2019/03/27/gold-market-us-bond-markets-global-economic-slowdown-in-focus.html

WSJ: Markets At A Glance:
https://markets.wsj.com/us

Major ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitor

SPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker

SPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectors

Current Futures:
https://finviz.com/futures.ashx




Comments

  • @MFO Member: Updated at 4:08 CDST IBD Post Closing:
    Regards,
    Ted
  • image ■ ■ ■ ■ ■ ■ ■ ■ THIS POST IS A TRANSGRESSION OF MFO POSTING STANDARDS ■ ■ ■ ■ ■ ■ ■ ■ image

    ⇒ This post has only 9 views and NO comments. In yet another slimy bit of work by Ted he has deliberately "bumped" it into the DISCUSSIONS + section without earning any legitimate qualifying comments.

    He deliberately and cynically does this with his BS "Update" comments so as to force this post "to the top of the board". He is well aware that this is in violation of MFO standard practice, but he believes that the rules for him are different than those for everyone else. He's just special.

  • @ MFO Members Updated at 4:42 PM CDST Bloomberg Evening Briefing. Have a great evening !
    Regards,
    Ted
  • see my Krugman cite in Decade of Doubts - Bull thread
  • @Ted: Thanks for the daily recaps. Much appreciated. Skeet
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