U.S. MONEY MARKET FUND ASSETS retreat from decade highs as investors pause pouring money into these low-risk assets. The spread between the 3 month T-bill and 10-year note widened to 55 basis points, levels not seen since 2007. The 10-year note shed 0.1 basis points. S&P +0.57%, DOW +0.88, NASDAQ +0.35%.
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ALTRIA BONDS SPIKE following confirmed merger talks with Phillip Morris discussing an all-stock merger reuniting the two companies. “With disruption facing the world of tobacco, we can see some merit in a re-merger.” Gold advanced 0.92 percent closing at $1551.3 per ounce. The 10-year note lost 5.5 basis points. S&P -0.18%, DOW -0.31, NASDAQ -0.22%.
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Topics: High Yield, Investment Grade, Loans, Analytics, bonds, junk bonds, bond market, market analytics, New Issues, Finance, Fixed Income, News, Syndicated Bonds, syndicated, research, market update
U.S. DURABLE GOODS ORDERS JUMPED 2.1 PERCENT IN JULY strengthened by gains in the transportation sector due to an increase of aircraft orders from Boeing. Excluding the transportation sector, durable goods slipped 0.4 percent. June’s results were revised significantly lower to 0.9 percent down from 1.5 percent. S&P +1.10%, DOW +1.05, NASDAQ +1.32%.
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US STOCKS FELL TODAY as investors continue to weigh concerns over the strength of the economy. Today’s drop comes after three straight days of growth. The 10-year Treasury note fell 5.6 basis points to 1.553%. S&P -0.79%, DOW -0.66%, NASDAQ -0.68%.
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US STOCKS FELL THEN ROSE TODAY, as investors fled into the safety of bonds. The falling bond yields resulted in stocks ending the day near level with this morning. Similarly, the 10-Year Treasury note dropped to as low as 1.598%, but is currently up 2.6 basis points at 1.734%. S&P +0.08%, DOW -0.09%, NASDAQ +0.38%
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THE US ADDED 164,000 JOBS IN JULY according to the Department of Labor, just below the expected figure of 165,000. The unemployment rate remained unchanged at 3.7%. Despite the report of steady job growth, stocks fell again today as investors continue to focus on trade threats. The 10-Year Treasury note fell to 1.846%, its lowest yield in nearly 3 years. S&P -0.73%, DOW -0.37%, NASDAQ -1.32%.
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THE MARKETS ROSE THEN FELL SHARPLY TODAY after the White House announced an additional 10% Tariff on Chinese goods beginning next month. The news came after a 300 point rebound from Wednesday’s interest rate cut-related losses.The 10-Year US Treasury note fell 11.3 basis points. S&P -0.90%, DOW -1.05%, NASDAQ
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US STOCKS FELL TODAY AFTER the Federal Reserve announced it will cut interest rates for the first time since 2008. According to Jerome Powell, the 25 basis point cut is a ‘mid-cycle adjustment’ and future cuts may not be necessary. He added that it will provide insurance against global economic risks and boost inflation. The 10-year note lost 4.2 basis points. S&P -1.09%, DOW -1.23%, NASDAQ
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