Weekly jobless claims fell to 264,000, making it 66 weeks that they've been below 300,000, a streak not seen in over 40 years. That encouraging news aside, world stock markets were mostly lower, dragged down by a greater likelihood now of the UK leaving the EU. Such a move would surely muck up economies and markets far beyond the island kingdom's own borders. The Global Dow index fell by nearly 1%.
That concern, on top of a now lesser chance of a Fed rate increase, prompted a rush into bonds and also out of the US dollar in Japan. The dollar hit a one-month low vs. the Japanese yen in a (and this part always mystifies me) flight to safety. Remind me of when the yen became a safer currency than the dollar? But back on task, bond prices fell in Europe, while US Treasury yields fell to their lowest level in ... Log in or subscribe to continue reading.
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