Financial markets continue to adjust to the implications of the Brexit vote. With global uncertainty rising, it has pushed many large investors towards the safety of bonds, where their money can be locked away for years.
The 10-year U.S. Treasury closed at a record low of 1.37% today. And the U.S. is not alone. Bond yields in Germany, the U.K. Switzerland, France, Denmark and Sweden all hit fresh historic lows.
Aside from Brexit, surfacing worries about the health of the banking system in Italy are weighing on investors' minds.
Equity markets in general headed lower today, with European losses in the 1-2% range and Asia-Pacific losses around 1%. The Global Dow Index was down 1.18%.
Here in the U.S., the Industrials declined 109 points with the Transports following suit, down 1.3%. The Utilities were the only major average in the green, benefiting from the continued search for safe yield. The dollar rose today, while oil declined roughly $2/barrel. ... Log in or subscribe to continue reading.