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Treasury Action: bonds and stocks are selling off to start the
week.
Date: Apr. 13, 2020
From: The Fly
Publisher: The Fly
Document Type: Brief article
Length: 179 words
Lexile Measure: 1370L
Full Text:
Treasury Action: bonds and stocks are selling off to start the week, though trading is still on the thin side following the hliday
weekend, with European markets still closed. The losses in Treasuries are small, restrained by the -1.1% decline in the S&P 500 and
the -1.9% drop in the Dow. Some unwinding of the flight to safety is weighing on bonds, along with expectations for fairly heavy
corporate issuance (with much of it long dated), and the trimming of Fed purchases. The long end is underperforming with the bond
yield 2.7 bps cheaper at 1.370%, while the 10-year is up 1.7 bps at 0.736%, with the 2-year little changed at 0.227%. The curve has
steepened to 50 bps from 49 bps on Thursday, and is just off the 51 bps from Wednesday which was the widest since the 54 bps on
March 26. Wall Street is in retreat, led by financials, as the market gives back some of last week’s rally ahead to the start of earnings
season where the big banks will kick it off this week.
Copyright: COPYRIGHT 2020 The Fly
http://thefly.com/
Source Citation (APA 6th Edition)
Treasury Action: bonds and stocks are selling off to start the week. (2020, April 13). The Fly. Retrieved from
https://link.gale.com/apps/doc/A620383842/GPS?u=fjp_jvpl&sid=GPS&xid=fe1f601f
Gale Document Number: GALE|A620383842