Face It, You’re Addicted To … Debt!
Getting back to Tuesday's question, what IT is – is definitely a market correction. It could, of course, turn into the beginning of a bear market, but the odds are against that. As such, it's interesting, to say the least, what the market does.
Today was another down hard day. Stocks started off about unchanged, uncertain about what kind of day it was going to be. The answer became more and more apparent as the day progressed. Asian stocks were again pretty quiet, with the exception of Shanghai stocks, which took another big tumble. In Europe, all exchanges were unhappy and recorded big losses; the STOXX 600 fell 1.60%. Same basic story in the Americas – outside of the US.
Bonds fared better, relatively speaking. But they still fell in price, with yields rising as a result. By the close, however, the 10-year T-note was only slightly lower, its yield at 2.833. ... Log in or subscribe to continue reading.
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