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business

breaking news The supply of stocks and bonds is incessant


We are back where we started.

US markets completely erased the moves after the strong nonfarm payrolls report. The S&P 500 is now down just 5 points to 4071 and on track for a weekly close above the 200-day moving average for the first time since April. It’s an impressive performance.

More curious is the relentless auction on long-term bonds. The US 10 is down 3 basis points to 3.49% from a high of 3.63%. The US 30 is down 8 basis points at 3.55% from a high of 3.70%.

One line of thought is that bond market participants are trying to get ahead of “the next big trade” which is a weakening global economy and lower inflation. Either way, lower yields are undermining the US dollar.


cnbctv18-forexlive-benzinga

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